Sustainability reports and targets

Sustainability reports

Ovako Sustainability Reports describe our approach and progress of our most essential sustainable aspects in environmental, societal and business ethics areas.

The reports are prepared for the group consisting of Ovako Group AB
(org no 556813-5379) and its subsidiaries (and since FY2021 been subject to third-party review).

Download Sustainability report FY2023 pdf

Download Sustainability report FY2022 pdf

Download Sustainability report FY2021 pdf

 Download Sustainability report 2020 pdf  

 Download Sustainability report 2019 pdf   

  Download Sustainability report 2018 pdf  

We are committed.

To continue our journey towards zero carbon emissions and to further advance our environmental work, we have set ambitious climate targets.

Environment

Climate

Further develop our world leading CO₂e footprint ”cradle-to-gate” which includes our upstream emissions from supply chain.

• Reduce CO₂e carbon footprint 60 % by 2030 and 70 % by 2040
  ”cradle-to -gate” for hot-rolled bar with 2015 as base.
• Reduce CO₂e in operations 80 % by 2030 and 90 % by 2040
  scope 1 and 2, according to GHG protocol, with 2015 as base.

Provide leading steel products for CO₂e savings in end-usage

• Increased number of customer end-products that use our steel for greater CO₂ savings.

Circular economy

Enhanced steel circularity driven by Ovako initiatives

• Actively pursue projects to reduce or eliminate concerns related to increasing levels of copper in scrap.

Contribute to the circular economy 

• Reuse or recycle at least 90 % of residual products from production.

Employees, health and safety

Safety
Zero accident and occupational illnesses workplace

• Lost Time Injury Frequency Rate (LTIFR) below 2 by the end of 2023.

Diversity
The right competence at the right place with people that reflects the societies where we are located

• 23 % women in total workforce and 25 % women in manager positions end of 2025.

• Long term target of minimum 40 % women in total workforce and manager positions.

Business ethics

Anti-corruption
Zero confirmed incidents of corruption and bribes from external and internal sources 

• Relevant employees must have knowledge of anti-corruption and bribery and must be trained through Ovako's internal training program.

Suppliers

Actively work with our suppliers to secure sustainability and climate  improvements

• Ovako’s Code of Conduct included in all procurement agreements.
• Classify and evaluate the suppliers with the highest impact with the aim to reduce the Co₂e footprint from suppliers with 20 % to 2030 compared to base year 2015.