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SKF joins RE100

Friday, 25 September 2020

Multinational SKF joined the RE100 earlier this week, signaling their commitment to use 100% renewable energy by 2030.

The Swedish-headquartered bearing and seal manufacturer announced their membership via press release on 23 September 2020. Kent Viitanen, President of SKF's bearing operations stated "Achieving carbon neutrality by 2030 is an integral part of SKF’s overall strategy. We see this as part of our responsibility and we are convinced that making this transition will create a long-term competitive advantage for SKF and our customers."

The company is seeking to achieve its goals by improving the efficiency of resource consumption (energy and materials), as well as sourcing renewable energy for its operations which had revenues in excess of 86 billion SEK in 2019.

SKF products also play a large role in the push for global sustainability. Johan Lannering, Director of Group Sustainability noted "…our products and solutions are key enablers of renewable energy systems such as wind energy and emerging technologies like tidal power. On the demand side, our rotating equipment performance offer is helping industrial companies in all sectors around the world to improve energy efficiency and operational performance."

The head of RE100, Sam Kimmins, said: "We are delighted to welcome SKF to RE100. By transforming their global business operations to renewable electricity, SKF are demonstrating a strong commitment to combat climate change, whilst underlining the business case for renewables. We look forward to seeing other industrial businesses follow their example."

The RE100 is a global initiative designed to bring together the world's most influential businesses from all sectors, committed to using 100% renewable electricity. As of 25 September 2020, their membership stood at 261 corporations. The net electricity demand from the RE100 members last year was 228 TWh according to their 2019 annual report.

Source

Global Mining Review

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