We take pride in contributing to the circular economy and producing steel that is close to carbon neutral. More than 97% of our input material comes from scrap. Read our latest Sustainability Report 2021.

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Achieving carbon neutral production

As we head into the final quarter of 2022, world events are driving interest in reducing carbon footprint and reliance on fossil fuels. That makes the publication of our latest sustainability report especially timely. In it, we explain the steps we have taken to become the world’s first steel company to implement 100% carbon-neutral production. This happened in January 2022 and it has proved popular with customers, who are using Ovako’s steel to cut the carbon footprint of their own products and services.
We achieved carbon neutral production by bringing our already very low carbon footprint to zero by purchasing carbon offsets. This builds on investments made over many years.

We have many more activities, for example, by converting our heat treatment furnaces to electricity and purchasing fossil-free Nordic electricity, developing a supply chain that sources high quality scrap, and installing energy-efficient systems.
We’re already now planning to phase out the need for offsets and our sustainability report explains how we plan to do this by 2040.

Sustainability Report

Employees, health and safety

Towards zero accidents Employee safety is a main priority at Ovako. We have a culture built on taking care of each other, with dedicated management and engaged employees. This approach has resulted in a decrease of accidents with sick leave with 93 % since 2015.

In the last twelve months (to March 31, 2022), our LTIFR (Lost Time Injury Frequency Rate) ended at 0.8 – among the lowest in Europe. We also see a positive development of our TRI (accidents with sick leave, alternative work and accidents with medical treatment). But the strong progress we have made does not make us complacent, we have a long-term target of a zero accidents and occupational illness workplace.

Carbon Footprint Calculator

We have developed a tool to help customers precisely evaluate the CO2 emissions of the steel products they are buying. Developed with the support of Swedish research institute RISE, the calculator uses data from sourcing of raw materials, production, processing and transportation of steel products. It can be accessed with the support of Ovako’s sales team.

Using the Carbon footprint calculator and closely monitoring each stage in the production and transportation of its steel products, Ovako calculates the carbon footprint for each product in kg CO2e (Carbon Dioxide eqvivalents) per ton of steel. This figure enables customers to compare products, as well as to supply their own customers with the vital data to make a meaningful comparison between suppliers.

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In our next letter we will discuss uncertainties in the energy market and how to serve our customers in the best way.

All the best,

Katarina Kangert
Head of Sustainability and Safety
Ovako

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