At least 300 million euros will be allocated to green investments by SKF, as part of its plans to reduce emissions. This was announced by the seals and bearings manufacturer through a statement.
The funding comes as a result of the group’s 10-year Green Bond, which is increasingly deepening its efforts to remanufacture products from the renewable energy and electric vehicle industries.
“It is fantastic to see the impact and scale of the projects supported by this funding. These investments are essential to contribute to SKF’s transformation and the industries we support,” said the company’s Senior Vice President and Chief Financial Officer, Niclas Rosenlew.
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Meeting the SDGs is the objective
Guided by the United Nations Sustainable Development Goals (SDGs), the Swedish multinational SKF has focused (among other things) on addressing gender equality, responsible sourcing, and environment and climate.
“We believe that diversity enables timely innovation. Equal opportunity is the key to a diverse and competitive team. The more diversified our employees are, the more competitive we will be to meet the needs of our customers,” refers the manufacturer.
Remanufacturing and Sustainable Future, Does it Diminish Quality?
“Remanufacturing can support a company’s efforts on the growing importance of sustainability issues.” Under this thesis, SKF has deployed a group of centers which give a new life to parts already in use.
It should be noted that not all rolling bearings meet refurbishment requirements due to the quality standards under which SKF operates. For this reason, the company carries out an exhaustive evaluation including customer feedback, in order to move forward in the remanufacturing process.
To learn more about SKF’s remanufacturing process, click HERE.
About SKF
Known as one of the leading companies in the rolling bearing business, SKF is a Swedish multinational company founded in 1907. During the last years, SKF has been a reference in the sustainability sector thanks to its projects aimed at reducing CO2 emissions, both internally and externally through products and collaborations.
SKF has branches in more than 130 countries and over 17,000 distributors worldwide. Its number of employees is expected to exceed 40,000 by 2021.
