Our way of working for a sustainable shift
For the good of our planet and our business
Sandvik Rock Tools is determined to bring about positive change in the business we operate in, from all aspects. And when it comes to sustainability, we are no different. Sustainability is a key driver for the future of our planet; if the global community fail to act – humanity will face unprecedented challenges in the short-, mid-, and long-term. Sandvik as a whole, and Sandvik Rock Tools specifically, has set out on a journey to make our part of the mining industry as sustainable as possible, in order to secure necessary minerals to make the needed sustainability shift. Here, we also need to be humble: we do not have all the answers, and we are constantly learning and developing our approach and methods. Why? For the good of our planet, as well as our business.
This report, which we call the “Our Way Report”, aims to provide our customers, employees and other important stakeholders with an annual overview of where we stand in terms of the progress of our sustainability efforts in three key areas: our way to Lead the way, Build circularity and Shift climate. These three areas have different aspects of our sustainability work in mind, and all contribute to our highly set goals. We will publish this yearly, to create transparency in terms of how we work to achieve a more sustainable world.
Sustainability mission statement
We are a part of the solution:
We commit to climate action to reach or exceed targets agreed in the Paris agreement. We will reach carbon neutrality in our entire value chain by 2045.
We take responsibility for our business impacts:
We drive continuous improvement of sustainable mining and construction practices. Our offerings will not only be of the highest quality and effectiveness but also the most resource-efficient and circular.
We optimize our operations:
Our operations, logistics and supplier base will be climate neutral, resource-lean and, as a result, nearly zero waste. We aim for zero harm to people.
We are sustainable people:
We shall be a true learning organization with the highest level of knowledge and awareness within sustainability. Sustainability is always part of what we do.
Our approach to sustainability is that it is a continuous journey, where we all learn and adopt to the latest science and ways of working. This report aims to bring transparency and clarity into how Sandvik Rock Tools works on a yearly basis.
Boel Schylander, Vice President Sustainability
Sandvik Mining and Rock Solutions
Sustainability governance
To achieve Sandvik Rock Tools sustainability mission statement, we have implemented a governance process guided by three focus areas:
Each statement contains measurable goals that are followed and revised regularly to ensure that plans, investments and activities deliver sustainable results in wanted direction.
All Sandvik Rock Tools functions have their own unique scorecard with relevant Key Performance Indicators (KPIs) for their operations. The scorecard set the foundation for the function’s long- and short-term sustainability projects and activities. This is a key factor to involve all functions and employees and for our sustainability work to be successful.
Sustainability shift
Sandvik as a company has set clear sustainability goals for 2030 in the areas of Climate, Circularity, People and Fair Play. These are in place to help us make the shift to a more sustainable business. The sustainability goals take a holistic approach that includes customers, suppliers, and our own operations.
This report is about the environmental aspects of sustainability and describes Sandvik Rock Tools way of working with the goals “We shift climate” and “We build circularity".
Commitment to Science Based Target initiative
The Science Based Target initiative (SBTi) drives ambitious climate action in the private sector by validating companies’ GHG emission reduction targets consistent with climate science and the Paris agreement. SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF). More than 5,700 businesses and financial institutions are working with the SBTi to reduce their emissions in line with this initiative.
In December 2021, Sandvik committed to set targets in line with the Science Based Targets initiative (SBTi). During 2022 a company greenhouse gas (GHG) inventory according to the GHG protocol was conducted and in November, target proposals were sent into SBTi for approval. The targets include net-zero emissions for our own operations, heating and power (Scope 1 and 2) by 2040 and for customers, suppliers and transports (Scope 3) by 2050. Setting targets in line with climate science and the Paris agreement is a natural step in Sandvik’s sustainable business strategy, where we can make a big difference through our customer offerings.