Climate targets for future-proofing the business

Climate action – a central part of the strategy
When Storskogen joined the Science Based Targets initiative (SBTi) back in 2021, we knew the journey would be both complex and challenging. Now, after several years of work, our climate targets have finally been validated – an important confirmation that our climate strategy meets international standards and can contribute to limiting global warming to 1.5°C. But the climate targets and their validation are not only important from a climate perspective – they are also strategically central on a broader level and help strengthen Storskogen’s competitiveness and future-proof the business.

Storskogen has a decentralised structure and great diversity among its business units. Climate efforts are driven strategically at the Group level, where we set direction and targets – while adapting the work to each company’s specific conditions and opportunities to reduce emissions. We recognise that impact and potential vary between companies, and we challenge the business units where we see the greatest opportunities for emissions reductions. By requiring each business unit with annual emissions over 500 tonnes of CO_₂e to develop their own transition plans – and, starting in 2025, also report on a quarterly basis – we can both monitor progress and act more swiftly.

Ambitious targets
We have set ambitious climate targets for all three emission scopes: Scope 1 (direct emissions from our own operations), Scope 2 (indirect emissions from purchased energy), and Scope 3 (other indirect emissions across our entire value chain). These targets are to reduce absolute Scope 1 and 2 emissions by 59 percent by 2034 and 90 percent by 2050, and to reduce Scope 3 emissions by 64 percent per SEKm of value added¹⁾ by 2034 – and 97 percent per SEKm of value added¹⁾ by 2050. The base year for all targets is 2023.

The main measures to help Storskogen reach these targets include:

• Electrified and fossil-free vehicles and transport
• Transition to renewable energy and improved energy efficiency
• Use of materials with lower emissions and longer lifespans

These actions, combined with continuous monitoring and reporting of climate data, ensure a solid foundation for advancing sustainability efforts and supporting the long-term climate targets.

Innovation, knowledge sharing and collaboration
In some cases, the climate targets lead to increased costs for emission reductions – costs that cannot always be passed on to the customer. This is where innovation becomes key. We challenge our companies to think: How can we deliver a sustainable product or service at the same or lower cost?

A good example is the business unit Persson Innovation, a supplier of carrying handles and applicator machines for the packaging industry. They have shifted from plastic to paper handles – a more environmentally friendly and comfortable alternative. In collaboration with Sandvik, they also developed the Shank Adapter Packaging – a safe and sustainable packaging that uses paper handles for a completely new application: packaging for heavy industrial products. Through this innovative product, Persson Innovation enables environmental benefits for their customers in the form of a reduced carbon footprint.

Storskogen’s broad and diversified group of companies provides a unique platform for sharing best practices and fostering collaboration and innovation across the Group.

Sustainability as a driver of long-term competitiveness
By investing in sustainability, integrating it into our strategy, and ensuring transparent reporting, we help our business units meet customer demands while ultimately contributing to Storskogen’s financial targets. This holistic approach not only strengthens our own position but also supports a competitive and long-term sustainable business model for the entire business group.

Amelie Nordin
Head of Sustainability

Amelie is Head of Sustainability at Storskogen. Before joining Storskogen, she was a Senior Manager in EY’s sustainability department and a Sustainable Finance Manager at Swedbank.

1. In the Science Based Target initiative, value added is defined as the economic value generated by a company, used as a denominator in emissions intensity metrics (e.g., emissions per unit of value added) to assess and compare the efficiency of emissions reductions relative to economic output.

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