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engcon commits to the Science Based Targets initiative

engcon commits to the Science Based Targets initiative

engcon is now taking an important step in its sustainability work by joining the Science Based Targets initiative (SBTi). With science-based emission targets, engcon is one of more than 4,000 companies worldwide leading the transformation towards a carbon neutral society.

The Intergovernmental Panel on Climate Change has clearly warned that the world faces unavoidable multiple climate hazards over the next two decades due to the impact of global warming and climate change. engcon is striving to increase its contribution to the green transition by setting science-based and validated emission targets in line with the Science Based Targets initiative and the 1,5°C goal of the Paris Agreement.

The global fleet of engcon tiltrotators contributes annually to reduced carbon emissions through direct savings in fuel and indirect savings through increased productivity and flexible work. Through sustainable innovation and scientifically based emission targets, we can increase our positive contribution to the global climate transition.

engcon commits to reduce its absolute emissions for Scope 1 and 2 by 42 percent until 2030. Scope 1 includes direct emissions from engcon’s own operations and Scope 2 indirect emissions from purchased electricity and district heating. For Scope 3, indirect emissions within our value chain, engcon aims to measure and reduce these emissions. The climate targets are based on calculations of engcon’s carbon dioxide emissions in 2021 and are followed up annually.

“Sustainability forms the basis of our business and long-term growth. We constantly work closely with our end customers and partners to develop innovative, productive and sustainable solutions. By doing so, we can make a difference. With science-based targets, we get a clear roadmap that reduces our own and the supply chain’s greenhouse gas emissions and contributes to the global climate transition”, says Krister Blomgren, President and CEO of engcon.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. Read more at www.sciencebasedtargets.org @sciencetargets

For more information, please contact:

Helena Nydahl, Sustainability strategist
+46 72 601 37 06

Anne Vågström, Head of Communications & Investor Relations
+46 76 126 40 84

engcon is the leading global supplier of tiltrotators and associated equipment that enhance efficiency, flexibility, profitability, safety and sustainability of excavators. With knowledge, commitment and a high level of service, engcon’s slightly more than 400 employees create success for their customers. engcon was founded in 1990, headquartered in Strömsund, Sweden and address the market through 14 local sales companies and an established network of resellers around the world. Net sales amounted to approximately SEK 1.9 billion in 2022. engcon’s B share is listed on Nasdaq Stockholm.

For more information, visit www.engcongroup.com