Bufab Group: Bufab signs the Science-Based Targets Initiative for reducing greenhouse gas emissions
Värnamo, February 25, 2021
Bufab has signed the international Science-Based Targets Initiative (SBTi) as a part of its efforts to further reduce global greenhouse gas emissions. The Group has thus committed to set targets that are aligned with the Paris Agreement, intended to limit global warming to 1.5°C.
“Our internal emission targets are already ambitious. However, the climate change is a global challenge and requires global solutions. Like some of our most ambitious customers, we now feel it’s time to increase our ambition even further by joining the Science-Based Targets initiative. This will push us to develop our sustainability work and to reduce greenhouse gas emissions throughout the value chain. We also welcome the assessment of our targets and follow-up of our progress against them which form part of the science-based targets framework. Partnerships with both customers and our most important suppliers will be a key element of our plans to reach this new ambition.
Setting such an ambition is the right thing to do. But we also see it as an integral part of our industry leadership strategy, and a way to further improve our competitiveness with sustainable solutions, products and operations.” says Jörgen Rosengren, President and CEO of Bufab.
For more information about Bufab’s sustainability work, please visit www.bufab.com, or see our Sustainability Report for 2020, which will be published during March, 2021.
About the Science Based Target Initiative (SBTi)
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wildlife Fund (WWF). Companies are responding by committing to set science-based emissions reduction targets that are consistent with keeping global warming to 1.5°C above pre-industrial levels. More information is available at sciencebasedtargets.org.
Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab’s Global Parts ProductivityTM customer offering aims to improve productivity in the customers’ value chain for C-Parts.
Bufab was founded in 1977 in Småland and is an international company with operations in 28 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1,300 employees. Bufab’s net sales for 2020 amounted to SEK 4.8 billion and the operating margin was 10.1 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker “BUFAB”. Please visit www.bufab.com for more information.