CDP is a global non-profit that runs the world's only independent environmental disclosure system for companies, capital markets, cities, states and regions to manage their environmental impacts. The SEA evaluates how effectively companies engage their suppliers on climate-related issues, focusing on governance, targets, Scope 3 emissions, and value chain engagement. SKF achieved top scores across all categories, including an A in governance and business strategy, targets, Scope 3 emissions (including verification), and supplier engagement.  

Earlier in the year, SKF also received an A rating from CDP for climate, placing it in the top 2% of all companies scored. A record 22,700+ companies were scored in 2024, however, just 515 companies achieved an A score, underlining SKF's sustainability commitment. 

"Being recognised by CDP for both our climate transformation progress and supplier engagement demonstrates that our strategy is not only ambitious but also credible and measurable. This recognition reflects our deep commitment to decarbonizing our own operations but also the broader value chain. Real climate impact requires collaboration, and we are proud to work closely with our suppliers to drive meaningful change." says Sofie Runius Cederberg, Head of Sustainability at SKF. 

Within the categories of the rating, SKF scored the highest possible grade A in 15 of the 16 areas. Of particular note, SKF received an A score in the Verification (Incl. Emissions) category, where the global category average is a D score. Additionally, SKF received an A score in the Emissions Reduction Initiatives and Low Carbon Products and Value Chain Engagement categories, where the global category average is a C score. 

The full list of companies on CDP's 2024 Supplier Engagement A List is available at: https://www.cdp.net/en/companies/companies-scores. 

SKF has committed to achieving net-zero greenhouse gas emissions across its supply chain by 2050. The company continues to make strong progress toward its 2030 decarbonized operations target and accelerated its decarbonization efforts in 2024 by achieving a year-on-year emission reduction for scope 1 and 2 emissions of 32%, up from 18% in the previous year. In addition, SKF has made significant strides in renewable energy adoption. In 2024, 72% of SKF's electricity use came from renewable sources, up from 64% in 2023.  

For more information on SKF's path to Net-Zero emissions, click here.

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For further information, please contact:

Press Relations: Sian How, +447970 737470; sian.how@skf.com
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com