Ambitious scientific targets
With science-based climate targets, Ocab ensures that emissions are reduced at the required rate while signalling to our customers and suppliers that we take climate change very seriously.
Setting climate targets based on climate science is crucial for society at large and for us as a business. Intentional and ambitious climate targets are becoming increasingly important, especially for business.
In 2021, we joined the Science Based Targets initiative (SBTi) and committed to setting science-based targets in line with the Paris Agreement and to doing our utmost to limit warming to 1.5 degrees in order to minimise the worst effects of climate change.
Net zero by 2040
An overall endeavour globally, and for our operations, is to reach net zero climate emissions as soon as possible.
The EU aims to be the first climate-neutral region by 2050, and Sweden aims to reach net zero by 2045.
Ocab wants to actively contribute to the transition and set a goal in 2023 to reach net zero by 2040.
This means that we undertake to reduce our absolute emissions in Scope 1, 2 and 3 by 90% by 2040 from the base year 2020.
For emissions above this level that may be unavoidable, we will invest in permanent carbon sequestration.
Our net zero target will be validated by SBTi, but it is already influencing how Ocab does business and the strategic choices we make through our purchases.
Ocab’s science-based targets
“Our target is to reduce emissions by 63% by 2030 compared to 2020, and to be Net Zero by 2040”
Supplier engagement
Our climate targets are ambitious and require the entire organisation to do its utmost to achieve them, but we cannot do it alone.
To achieve our targets, we need to collaborate with both customers and suppliers, as 88% of our carbon footprint occurs outside our organisation in our value chain.
Our goal is that by 2025, 50% of purchased products and services will come from suppliers that have set a science-based target. This is crucial to achieving our goal to reduce emissions by 63% by 2030.
Our business is based on well-functioning partnerships with suppliers in which we jointly take responsibility for the climate transition.
In the survey that was started in 2022, we saw that 19% of the suppliers surveyed had set a target through SBTi and 30% had calculated their emissions at least once in the last three years.
Our suppliers' emissions calculations help us to better understand emissions in the value chain. The responses also show us that the majority of those who participated in the survey have environmental and climate ambitions, which is positive.
Read more about how we work with our suppliers to reduce emissions.
Scope 1, 2, 3-graf
Development
Ocab is proud to report that for the first time, absolute emissions are reducing, with a decrease of 6% compared to 2022. This is the most important metric for assessing whether the Ocab Group is making progress towards its climate goals.
For our climate targets to be comparable within the company, it is necessary to ensure consistent reporting. Ocab has undergone both acquisitions and divestments since the base year was established, which means, according to the principles of the GHG Protocol, that the base year has been adjusted.
The companies divested from the business have been retroactively removed from the reporting, but as there has been limited historical data available for the companies acquired, their reporting is done in parallel with the reporting for the original business.
Reporting is done by country, as the original business covers the Swedish market, and the major acquisitions cover the Norwegian and Danish markets.
Read the 2023 Climate Report for full details of our progress.
Read more about our strategy