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SKF: SKF launches aggressive new climate strategy and partners with WWF to reduce greenhouse gas emissions

Press release published at The Swedish Wire

SKF today announced targets for their new climate strategy and have partnered with the WWF in their Climate Savers Programme. The SKF climate strategy includes aggressive targets for reducing greenhouse gas (GHG) emissions for SKF, its suppliers and logistics operations, as well as from its customer solutions. To support its customers, SKF also announced the launch of the BeyondZero portfolio including products and solutions which will both improve energy efficiency and support more environmentally friendly energy production.

"With our new climate strategy, we intend to be a leader in our sector to reduce emissions from both our own operations, but also to lead the way in helping our suppliers and customers reduce their emissions," says Tom Johnstone, SKF President and CEO. "We are very proud to join with WWF as the first industrial engineering company to be accepted into the Climate Savers program and look forward to continue using our engineering knowledge to make the world a cleaner place for us all."

SKF and WWF agree that there is a substantial role for the business community to play as a driving force behind the transition to a low-carbon economy and intend to work together in the Climate Savers Programme to reduce SKF's emissions of GHGs, with particular focus on carbon dioxide (CO2).

"SKF is in a unique position as an industrial engineering company to influence the emissions of many companies within a range of segments. They show their level of commitment through their targets, which go beyond the direct emissions of the company itself and also drive positive change across their entire supply chain. We are particularly encouraged by the way in which SKF is willing to take the lead on quantifying and communicating environmental benefits enabled by their products and solutions," says Håkan Wirtén, Secretary General of WWF Sweden.

SKF's updated climate strategy includes the following targets:
· Reduce the total annual energy use of the SKF Group by 5 % below the 2006 level by 2016.

· Reduce the energy use per production output by 5% year-on-year during the period (2012-2016).

· Require that 100% of our energy intensive suppliers are certified according to the new Energy Management Standard ISO 50001 by the end of 2016.

· Reduce CO2 emissions/tonne-km for all transport managed by SKF Logistics Services by 30% below 2011 level by 2016.

· Increase the revenue from the BeyondZero portfolio from SEK 2.5 billion in 2011 to SEK 10 billion in 2016.

The WWF Climate Savers program works with leading companies to cut CO2 emissions. The partnerships between WWF and corporations aim at delivering real, measurable and additional reductions in CO2 emissions.  The targets set must be demonstrably more ambitious than previous targets communicated by the company, and should place the company ahead of its competitors in terms of reducing greenhouse gases. Outside experts monitor and verify compliance with these agreements.

Gothenburg, 08 May 2012

Aktiebolaget SKF

For further information, please contact:
PRESS: Rebecca Ehlinger-Janzon, SKF Group Communication, tel: 46 31-337 2400, mobile: 46 727-173880, e-mail: Rebecca.janzon@skf.com
IR: Marita Björk, SKF Investor Relations, tel: 46 31-337 1994, mobile: 46 705-181994, e-mail: marita.bjork@skf.com

SKF is a leading global supplier of bearings (http://www.skf.com/portal/skf/home/products?contentId=876709&lang=en), seals (http://www.skf.com/portal/skf/home/products?contentId=238358&lang=en), mechatronics (http://www.skf.com/portal/skf/home/products?contentId=447144&lang=en), lubrication systems (http://www.skf.com/portal/skf_lub?lang=en), and services (http://www.skf.com/portal/skf_lub/home/services?contentId=867934&lang=en) which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. Annual sales in 2011 were SEK 66,216 million and the number of employees was 46,039. www.skf.com
This information was distributed by Cision

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