SKF signs Virtual Power Purchase Agreement (VPPA) to support renewable energy in Europe

Joakim Landholm, Chief Sustainability Officer and Senior Vice President, says: "This agreement is a critical step forward in our strategy. It also demonstrates our commitment to the cleantech industry and support for the growth of the renewable energy industry. This shows that, by working together with others, we can make a real impact in achieving a sustainable future." Joakim Landholm, Chief Sustainability Officer and Senior Vice President, says: "This agreement is a critical step forward...

Joakim Landholm, Chief Sustainability Officer and Senior Vice President, says: "This agreement is a critical step forward in our strategy. It also demonstrates our commitment to the cleantech industry and support for the growth of the renewable energy industry. This shows that, by working together with others, we can make a real impact in achieving a sustainable future."

The VPPA is part of SKF's broader sustainability agenda, which includes initiatives to reduce energy consumption, increase use of renewable energy, and minimize environmental impact. The agreement is also another step forward in SKF's membership of RE100, as part of a membership commitment to shifting to 100% renewable electricity by 2030.

SKF's climate targets are approved by the Science Based Targets initiative (SBTi). In its targets, SKF has committed to reducing its absolute scope 1 and 2 GHG emissions by 95% by 2030 from a 2019 base year and to reduce its scope 3 emissions by at least 31% by 2030. SKF has also committed to reach net-zero GHG emissions across the value chain by 2050. More information about SKF's climate goals can be found on: https://www.skf.com/group/organisation/sustainability  

Aktiebolaget SKF
     (publ)

For further information, please contact:
PRESS: Carl Bjernstam, Acting SKF Media & Press Director
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected]

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; [email protected]

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