IPCO AB
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:142,188 tCO2e (Market Based)
Scope 1 Emissions:1,284 tCO2e
Scope 2 Emissions:1,442 tCO2e (Market Based)
Scope 3 Emissions:115,460 tCO2e
Renewable Energy Share:61%
Total Energy Consumption:21,386 MWh
Water Consumption:16,469 m3
Waste Generated:1076 tons
Carbon Intensity:61.9 tCO2e GHG intensity
ESG Focus Areas
- Climate impact
- Circularity
- Own workforce
- Supplier workforce
- Business conduct
Environmental Achievements
- 60% of energy from renewable sources in 2023
- Geothermal heating installation at new Swedish plant
Social Achievements
- Launched quarterly Pulse employee survey, resulting in +8 Net Promoter Score in December 2023
- Increased suppliers signed up to the Supplier Code of Conduct from 59% to 63%
Governance Achievements
- Strengthened sustainability governance with enhanced Sustainability Council
- No compliance issues detected or reported to the Board during 2023
Climate Goals & Targets
Long-term Goals:
- 90% reduction in Scope 1, 2, and 3 emissions by 2050
Medium-term Goals:
- 42% reduction in Scope 1, 2, and 3 emissions by 2030 (excluding use of sold equipment)
- 95% energy from renewable sources by 2030
- 90% of purchased steel to be reused or fossil-free by 2030
- 0 waste to landfill by 2030
- 42% reduction in emissions per running hour of equipment by 2030
- 30% women in the workforce by 2030
- >30% women managers by 2030
- 95% of purchased goods and services by value from suppliers signed to Code of Conduct by 2030
Short-term Goals:
- Develop a comprehensive transition plan for mitigating climate change (2024)
Environmental Challenges
- Inconsistent information on customer equipment operational hours
- Lack of data on energy type used by customers in some countries
- Limited recruitment base affecting potential
- Reliance on key personnel
- Non-compliance with labor standards in supply chain
Mitigation Strategies
- Exploring ways to accurately measure customer energy use and improve product energy efficiency
- Minimum one female on shortlist for all recruitments
- Improved succession planning and development of high potentials
- IPCO Code of Conduct and Supplier Code of Conduct addressing human rights violations
- Annual modern slavery statement
Supply Chain Management
Supplier Audits: Will develop a process to audit compliance with Supplier Code of Conduct (future)
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather affecting operations and supply chain
Transition Risks
- Regulatory changes, industry shifts, stricter sustainability requirements
Opportunities
- Positive brand impact, new partnerships, lower costs with less air freight
Reporting Standards
Frameworks Used: GRI, European Sustainability Reporting Standards (ESRS), Greenhouse Gas (GHG) Protocol
Certifications: EcoVadis Silver, ISO 14001 (key sites)