Diab’s emissions reduction targets approved by Science Based Targets initiative again

Since our foundation in 1950, Diab has contributed to a more sustainable world by helping our customers make their applications lighter and more energy efficient. Now, the Science Based Targets initiative has approved our near-term science-based emissions reduction target for a second period. Diab Group has also committed and approved long-term emissions reduction targets with the SBTi to reach net zero by 2050. 

“Since 2018, we have approved CO2-reduction plans following the Science Based Targets initiative requirements”, says Eva-Lotta Petersson, Group Sustainability & EHSQ Manager at Diab. “Diab is still the first company in our industry to have achieved this. The SBTi has now approved our new near-term targets for the next 5-year plan leading up to 2028, as well as our long-term and overall net-zero targets. By working towards our goals, we will, in turn, help our customers reduce their scope 3”.

SBTi’s near-term targets focus on rapidly cutting emissions in the short run. Companies need to halve their value-chain emissions by 2030 to stay on track for limiting global warming to 1.5°C. In contrast, long-term targets look ahead to 2050, when companies must reduce more than 90% of their emissions. Once these reductions are achieved, they must neutralise any remaining emissions through permanent carbon removal to finally reach net zero. 

“Most companies that use our products and services strive for applications with light and strong designs,” says Johan Arvidsson, CEO at Diab. “This brings positive effects such as reduced fuel and energy consumption, increased range, and greater load-bearing capacity. For us, sustainability and circularity aren’t just a goal – they are ingrained in our DNA. While our biggest impact is through collaboration with our customers, we are equally committed to our own responsibility. We understand that, like all companies and organisations today, we must take tangible steps to ensure a sustainable future.”

“Diab implemented yearly CO2 emissions calculations already in 2016, which has contributed to a global and deeper understanding of all Diab activities and their corresponding contribution to GHG emissions in Scope 1 to 3,” says Eva-Lotta Petersson. “This has contributed to how we systematically reduce emissions and thereby made it easier to set company-wide emissions targets according to SBTi at such an early stage.”

For more information contact:
Eva-Lotta Petersson
eva-lotta.petersson@diabgroup.com

About SBTi
The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
SBTi develops standards, tools, and guidance that allow companies to set greenhouse gas (GHG) emissions reduction targets in line with what is needed to keep global warming below catastrophic levels and reach net zero by 2050 at the latest.
SBTi partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

About Diab
Diab offers industry-leading competence and the broadest range of stronger, lighter, smarter core materials. Today, Diab is one of the world’s largest manufacturers of structural core materials. Diab has seven strategically located manufacturing sites and 14 sales units worldwide to support its customers. Diab is owned by Ratos AB and is a UN Global Compact participant for a more sustainable society.