Ovako climate declarations help customers make CO2-effective procurement decisions
Ovako has today published climate declarations, outlining the carbon footprint rendered by the company’s products from cradle to gate. The declarations help clarify that the CO2 footprint of Ovako’s bar steel products is approximately 80 percent lower than the world average.
The iron and steel industry accounts for approximately seven percent of total world CO2 emissions¹. When adding also the upstream consumables and raw materials, and the production and transport thereof, the figure is even higher. Improving the cradle to gate footprint of the global steel production is therefore highly relevant for the world to meet the Paris climate agreement. At the same time, there has been very little data available for steel customers to make informed decisions about the difference in carbon footprint between products from different producers.
Ovako’s climate declarations help enable a true comparison of Ovako’s carbon footprint per kilo finished steel product, cradle to gate, compared to the world average. It helps customers make steel purchasing decisions based on differences in carbon footprint, and in turn also to make their own product climate declarations.
“By publishing climate declarations, we enable customers to make informed decisions about their procurement of steel. It also gives customers with steel-intensive products the opportunity to create world-leading carbon footprints of their own,” said Marcus Hedblom, President and CEO at Ovako. “The information we have published today underline that there is a big difference between steel and steel in carbon footprint. For every kilo of finished steel product that a customer buys from Ovako, the CO2 emissions are roughly 80 percent lower than the world average cradle to gate footprint.”
Ovako’s climate declarations have been produced based on a report by Swerea IVF and verified by two external consultancies. The climate declarations are publicly available on the international EPD System’s website.
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About environmental product declaration (EPD®) and climate declarations
An environmental product declaration (EPD) is a verified and registered document that communicates transparent and comparable information about the life-cycle environmental impact of products. The International EPD system is a global program for environmental declarations based on ISO 14025 and EN 15804².
The International EPD System allows for the possibility to adapt the information given to specific user needs and market applications by introducing the concept of “single-issue EPDs”, focusing on a single environmental impact category. The most popular such single-issue EPD® has been the Climate Declaration, which declares only the carbon footprint of the product, while referring to the EPD® for more information about other impacts³.
For more information please contact:
Press and media contacts
Oskar Bosson, Head of Group Communications
Telephone: +46 704 10 71 80
Stina Thorman, Head of Investor Relations
Telephone: +46 (0)862 13 38
Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally friendly products.
Our production is based on recycled scrap and includes steel in the form of bar, tube, ring and components. Ovako is represented in more than 30 countries and has sales offices in Europe, North America and Asia. Ovako’s sales in 2016 amounted to EUR 781 million, and the company had 2,800 employees at year-end. For more information, please visit us at www.ovako.com.
The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on December 12, 2017.