Ovako's Sustainability report for the 2022 FY is live

We're heading into an exciting fall, even though it's always a bit bittersweet to leave behind the summer and vacation season. Among the exciting things happening this fall, the biggest is undoubtedly the inauguration of our hydrogen plant in Hofors. That's when Ovako will become the world's first to use hydrogen to heat steel before rolling. And why is it so thrilling? Well, with hydrogen, we will be able to reduce our carbon emissions by over 50 %. Ovako already has the lowest emissions in the entire steel industry, but we want more. Since 2015, we have reduced our emissions by 58%, and we're not stopping there. That's why we're investing in innovation and new technology to ultimately reach our climate targets and eventually our vision of producing steel with zero emissions.

The hydrogen plant is our primary focus right now and we have already electrified everything that can be electrified. However, we must not forget about other initiatives that can lower emissions. That's why we're working on various aspects, including transportation, transitioning to LED lighting everywhere, and streamlining processes wherever possible.

SAFETY IS OUR NUMBER ONE PRIORITY

Our environmental work must never compromise safety. Safety is the highest priority in everything we do. We are on a mission. A mission to make our workplace a zero-accidents wonderland. To use the words of Sting; Every breath we take, Every move we make, Every bond we break, Every step we take. Safety must permeate everything we do, every day.

During July, the Ovako Sustainability report financial year 2022, (1 April 2022-31 March 2023) was published. The complete report is verified by a third party, and I am proud of the well achieved numbers one can read in it. We have managed to decrease accidents with sick leave with 93 % since 2015. And for the LTM -Last Twelve Months (to March 31, 2023), our LTIFR (Lost Time Injury Frequency Rate) ended at 0.8 – which is among the lowest in Europe.

TEAMWORK AND TRANSPARENCY

Transparency in today's business world is more than just sharing information; it's about being open, building trust and working together towards common goals. New laws, legal requirements and legislation entails companies to report and talk more about their environmental, social, and governance (ESG) progresses using the upcoming Taxonomy. All of this is making it easier for companies, businesses, and organizations to be on the same level of honesty and accountability, and to get away from green washing, which helps with credibility for the consumer.

We have since long collaborated with many companies, suppliers and customers to achieve the greatest products. At Ovako we believe teamwork and partnership are the keys to success, one cannot make it all alone.

Together we can achieve so much more and at the end, teamwork makes the dream work!

DOWNLOAD REPORT

Please invite any of your colleagues/networks to join us as we look forward to bringing you news of interesting aspects of the steel business world.

We are also happy to receive questions and will do our very best to address them in upcoming newsletters.

Stay tuned for more exciting updates as we continue to shape the future of steel and redefine what's possible. Next Strength of Steel will be published in September

All the best,

Vendela Stenius

Sustainability and Communication specialist, Ovako

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Hydrogen Plant is ramping up

We are getting closer to the groundbreaking inauguration. Stay tuned for more updates.

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