SKF, a leading global supplier of bearings, sealing solutions, lubrication systems, condition monitoring systems, and services, has committed to using 100% carbon neutral steel in its global supply chain by 2050. SteelZero is a global initiative bringing together forward-looking organizations to speed up the transition to a net zero steel industry.
Total greenhouse gas emissions from the steel sector account for around 7% of global annual emissions and are projected to rise in line with increasing demand, making decarbonizing steelmaking a critical part of overall efforts to combat climate change.
"Steel is by far the biggest source of carbon emissions upstream in SKF's supply chain, and the transition from the current global steel production infrastructure to one which is carbon neutral is a massive undertaking," said Rickard Gustafson, CEO of SKF. "We are already working with our steel suppliers on this, but there are limitations on how much change we can drive unilaterally. We will be working together with other like-minded industrial users of steel to advocate for the structural changes needed, and we will do this through our active membership of the SteelZero and ResponsibleSteel initiatives.
SKF products and solutions are critical in enabling the transition towards a carbon-free economy, making SKF a key enabling partner to many mature and emerging clean-tech sectors – from wind power and electric vehicles to tidal power remanufacturing. SKF has been measuring, reporting, and acting on its carbon emissions for more than 20 years – achieving sustained economic growth of the business while reducing the greenhouse gas impact in real terms.
Learn more about the decarbonization of steel at SteelZero.