Boliden’s Climate Targets Validated and Approved by Science Based Targets Initiative (SBTi)

Boliden’s Climate Targets Validated and Approved by Science Based Targets Initiative (SBTi)

(IN BRIEF) Boliden, a pioneering mining and metals company, has achieved validation and approval for its climate targets from the Science Based Targets initiative (SBTi), making it one of the first companies in the industry to do so. Boliden’s ambitious goals aim to reduce its climate impact (scope 1 and 2) by 42 percent by 2030 compared to the 2021 level. The company’s commitment to electrification and process development is expected to lead to gradual emissions reductions in line with its 2030 target. Boliden has also introduced several products with significantly lower climate impacts than global averages, particularly in copper, zinc, and lead production. These efforts align with Boliden’s vision of becoming the most climate-friendly and respected metal provider globally, while contributing to the transition away from fossil fuels in society. The validation by SBTi ensures that Boliden’s climate goals are consistent with the latest climate science and the Paris Agreement objectives. The Science Based Targets initiative, supported by organizations like CDP, the United Nations Global Compact, WRI, and WWF, aims to accelerate global efforts to cut emissions in half by 2030 and achieve net-zero emissions by 2050.

(PRESS RELEASE) STOCKHOLM, 15-Dec-2023 — /EuropaWire/ — As one of the first mining and metals companies in the world, Boliden’s climate targets have been validated and approved by the Science Based Targets initiative (SBTi). The goals mean reduced climate impact (scope 1 and 2) by 42 percent until 2030, from the 2021 level. From a global climate perspective, Boliden’s metal production is very competitive.

“The announcement shows that we are on the right track and gives us further strength towards our vision of becoming the most climate-friendly and respected metal provider in the world. Electrification and process development in the business will mean successive emission reductions and lead to our target 2030. This at the same time as our base metals such as copper, zink and nickel are absolutely necessary to phase out fossil fuel in the society,” says Åsa Jackson, Executive Vice President, Boliden.

During 2022 and 2023, Boliden has launched several products within, among other things, copper, zinc and lead where the climate impact is significantly lower than global averages. In parallel, Boliden applied to have the climate goals for scope 1 and scope 2 validated and approved by SBTi, which has now taken place and means that these are in line with both the latest climate science and the goals of the Paris Agreement.

The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

Boliden’s vision is to be the most climate-friendly and respected metal provider in the world. We are Europe’s producer of sustainable metals and, guided by our values care, courage and responsibility, we operate within exploration, mines, smelters and recycling. We are more than 6,000 employees and have annual revenues of approximately SEK 85 billion. The share is listed in the Large Cap segment of NASDAQ OMX Stockholm.

Media Contact:

Klas Nilsson
Director Group Communications
phone: +46 70-453 65 88
klas.nilsson@boliden.com

SOURCE: Boliden Group