A year of innovation to continue Ovako’ s sustainability journey

Ovako has published its Sustainability Report for the Financial Year 2023, demonstrating its continued leadership in sustainability, and inviting partners to join in collaborative efforts towards a sustainable society.

On average Ovako’s steel products consist of 97 percent recycled steel. Since 2015, Ovako has reduced its carbon emissions per tonne steel from operations with 56 percent and the “cradle-to-gate” carbon footprint from Ovako’s steel products is 80 percent lower than the global average.

The Sustainability report FY2023 highlights several important activities;

• Safety is a core value and the LTIFR (Lost Time Injury Frequency Rate) remains as one of the lowest in Europe within the industry.
• The inauguration of the world´s first fossil-free hydrogen plant to heat steel prior to rolling, took place in Hofors 5^th of September 2023 and was a success. This counts as a major milestone towards eliminating all carbon emissions from Ovako’s production.
• By working closely with customers and suppliers, Ovako is driving innovation and developing new solutions to enhance sustainability.

Ovako’s Sustainability Report FY2023 is a testament to the company’s dedication to sustainability, safety, collaboration, and innovation. It outlines concrete actions and future plans aimed at further reducing environmental impact, enhancing safety, and fostering collaborative innovation.

"At Ovako, we are committed to making a positive impact on the world. Our sustainability report reflects our ongoing efforts to create a more sustainable and responsible future, and we are excited to continue this journey with our stakeholders.", says Marcus Hedblom, President and CEO of Ovako.

Learn more about Ovako’s approach to sustainability at ovako.com.

At Ovako, we specialize in clean, high quality engineering steel tailored to the needs of customers in the bearing, transport, and manufacturing sectors. Our high-quality steel, based on 97% recycled steel, not only ensures lightweight and resilient products but also enables more sustainable and environmentally friendly solutions. With 2900 dedicated employees and a global presence spanning over 30 countries, along with approximately EUR 1.1 billion in sales, Ovako, a subsidiary of Sanyo Special Steel and a proud member of Nippon Steel Corporation, stands at the forefront of the steel industry. Our purpose is clear: Together we create steel for a decarbonized society. Discover more about our innovative solutions at www.ovako.com, www.sanyo-steel.co.jp, and www.nipponsteel.com