Ovako
Ovako, officially known as Ovako AB, is a leading provider of engineering steel solutions headquartered in Sweden (SE). Established in 2005, the company has rapidly evolved, focusing on the production of high-quality steel products primarily for the automotive and engineering industries. With major operations across Europe, Ovako has positioned itself as a key player in the steel sector, renowned for its innovative approach to sustainable manufacturing. The company’s core offerings include a range of steel grades and products, such as bars, tubes, and wire, distinguished by their exceptional performance and reliability. Ovako's commitment to sustainability and efficiency has garnered recognition, making it a preferred choice for customers seeking durable and environmentally friendly solutions. With a strong market presence, Ovako continues to drive advancements in steel technology, reinforcing its status as a trusted partner in the industry.
DitchCarbon Score
How does Ovako's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Ovako's score of 25 is higher than 85% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Ovako's reported carbon emissions
In 2023, Ovako reported total carbon emissions of approximately 153,585,000 kg CO2e for Scope 1, 157,530,000 kg CO2e for Scope 2, and 150,647,000 kg CO2e for Scope 3 emissions. This reflects a commitment to transparency in their emissions reporting across all three scopes, which include direct emissions from owned or controlled sources (Scope 1), indirect emissions from the generation of purchased electricity (Scope 2), and other indirect emissions (Scope 3). In 2022, Ovako's total emissions were about 210,000,000 kg CO2e, with significant contributions from Scope 1 (157,530,000 kg CO2e) and Scope 2 (180,287,000 kg CO2e). The company has shown a notable reduction in total emissions from 2021, where they reported approximately 253,385,000 kg CO2e. Ovako has committed to near-term emissions reduction targets, although specific numerical targets have not been disclosed. They are not currently committed to a net-zero target but have indicated a commitment to the Science Based Targets initiative (SBTi) framework, which aligns with their long-term sustainability goals. The company operates within the mining and metals sector, focusing on iron and steel production, and continues to explore avenues for reducing its carbon footprint in line with industry standards.
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Add to project| 2015 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 180,287,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 478,026,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 222,305,000 | - | - | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Ovako is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
