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OrganisationsOvako
Ovako logo

Ovako

Iron and Steel ProductionSweden
Last verified 9 days agoovako.com

Ovako, a leading name in the basic iron and steel industry, is headquartered in Sweden (SE) and operates extensively across Europe. Founded in 2005, the company has established itself as a key player in the production of high-quality steel and ferro-alloys, focusing on innovative solutions for various sectors, including automotive and engineering.

Specialising in long products, Ovako is renowned for its unique offerings, such as high-performance steel grades that enhance durability and efficiency. The company’s commitment to sustainability and advanced manufacturing processes has positioned it favourably in the market, earning recognition for its contributions to both industry and environmental stewardship. With a strong emphasis on quality and customer satisfaction, Ovako continues to drive advancements in the steel sector, solidifying its reputation as a trusted partner in the global marketplace.

56
DitchCarbon score

+40 vs industry average

Ovako’s score of 56 is higher than 76% of the industry. This can give you a sense of how well the company is doing compared to its peers.

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Industry Intensity

Very High

Iron and Steel Production is among the most carbon-intensive industries

Industry performance

0.677
20192025

The Iron and Steel Production industry has reduced its overall emissions by 27% since 2019

Emissions trajectory 2020 – 2027

000.0M000.0M000.0M000M0

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20202021202220232024202520262027

Reported emissions

Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e

Scope 3 accounts for ••• of total emissions.

Ovako's reported carbon emissions

Ovako, a basic iron and steel and ferro-alloy producer headquartered in SE, reported a total of approximately 446 million kg CO2e in 2024. This figure encompasses Scope 1, 2, and 3 emissions.

In 2023, Ovako's total emissions were approximately 507 million kg CO2e. Scope 1 emissions accounted for about 154 million kg CO2e, while Scope 2 emissions (market-based) were around 3.9 million kg CO2e, and Scope 3 emissions totalled approximately 350 million kg CO2e.

Looking back, Ovako reported approximately 611 million kg CO2e in 2022 and approximately 706 million kg CO2e in 2021. In 2020, Scope 1 and 2 emissions were approximately 177 million kg CO2e.

Ovako has set ambitious climate targets. By 2030, they aim to reduce absolute Scope 1 and 2 emissions by 45% and absolute Scope 3 emissions by 25%, using 2021 as the base year. Furthermore, Ovako is working towards a 90% reduction in all absolute Scope 1, 2, and 3 emissions by 2040, with the ultimate goal of achieving net-zero emissions by 2045. They also have a target to have fossil-free heating on all their sites by 2030. A hydrogen initiative is in place to reduce CO2 emissions in their production by approximately 50% compared to the 2015 base year.

Ovako's emissions data is cascaded from its parent company, Ovako Group AB, which is at cascade level 0 for performance data. Their SBTi and CDP initiatives are sourced from Sanyo Special Steel Co., Ltd. at cascade level 1, and their CA100 involvement is with Nippon Steel Corporation at cascade level 2.

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Ovako’s Climate Goals (2030 & 2050)

9 goals

2040

90% reduction in Scope 2

This is followed by a target by 2040 to reduce all absolute scope 1, 2 and 3 emissions by 90 percent, leading to net-zero emission by 2045.

At risk90%

2030

62% reduction in total GHG

Vs 2019 baseline. Validated by SBTi. Includes full supply chain.

At risk48%

2040

50% reduction in Scope 3 intensity

Across purchased goods and services and logistics.

Behind target22%

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Scope 3 top emissions categories

6 of 15 categories disclosed
Purchased Goods & Services60%
Upstream Transportation & Distribution16%
Fuel & Energy Activities13%
Processing of Sold Products9%
Waste Generated in Operations2%
End-of-Life Treatment1%
Purchased Goods & Services60%
Upstream Transportation & Distribution16%
Fuel & Energy Activities13%
Processing of Sold Products9%
Waste Generated in Operations2%
End-of-Life Treatment1%

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Climate initiatives

SCIENCE BASED TARGETS

Science Based Targets Initiative

Inherited from Sanyo Special Steel Co., Ltd.
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Not active
CDP

Carbon Disclosure Project

Inherited from Sanyo Special Steel Co., Ltd.
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Active
THE CLIMATE PLEDGE

The Climate Pledge

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Not active
United Nations Global Compact

UN Global Compact Climate Champions initiative

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Not active
RE 100

RE 100

See details
Not active
Climate Action 100+

Climate Action 100

Inherited from Nippon Steel Corporation
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Not active

Emissions comparison with industry peers

View similar organisations
CompanyCountryIndustryLast updatedScoreDetails
Ovako logoOvako
SEIron and Steel Production
9 days ago
56
Ssab logoSsab
SEIron and Steel Mills and Ferroalloy Manufacturing
8 hours ago
85
View
Outokumpu logoOutokumpu
FIIron and Steel Production
13 days ago
76
View
Thyssenkrupp AG logoThyssenkrupp AG
DEConstruction Work
19 days ago
73
View
Tata Steel Limited logoTata Steel Limited
INIron and Steel Production
3 days ago
71
View
Nucor logoNucor
USIron and Steel Production
17 days ago
44
View
Cleveland Cliffs logoCleveland Cliffs
USIron Ores
24 days ago
44
View

Frequently asked questions

Common questions about Ovako’s sustainability data and climate commitments

Ovako's total carbon emissions for 2024 are approximately 446 million kg CO₂e. This includes around 141 million kg CO₂e from Scope 1 emissions, roughly 1.5 million kg CO₂e from Scope 2 market-based emissions, and about 304 million kg CO₂e from Scope 3 emissions. These figures highlight the company's significant carbon footprint, particularly from its supply chain activities, which represent the largest share of its emissions.

Data year: 2024

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