UN Global Compact and Sustainable Development GoalsWe are committed to the United Nation’s Sustainable Development Goals (SDGs) and have chosen six SDGs as the most relevant for our contribution. They are: Clean water and sanitation; Affordable and clean energy; Decent work and economic growth; Industry, innovation and infrastructure; Responsible consumption and production as well as Climate action.
Science Based Targets initiative
Outokumpu has been a member of the Science Based Targets initiative since 2016. We are committed to the ambition of keeping global warming below 1.5°C and updated our climate targets accordingly in 2021.
The approval of the Science Based Targets initiative for our climate targets means that the targets are aligned with keeping global warming below 1.5°C and meet the goals of the Paris Agreement. Outokumpu is the only stainless steel producer to have climate targets approved by the Science Based Targets initiative.
Outokumpu’s new near-term science-based target is to reduce direct and indirect emissions as well as its supply chain emissions (scopes 1, 2 and 3) by 42% per tonne of stainless steel by 2030 from a 2016 base year. The new target marks a further 30% reduction from the 2020 level. The updated targets cover Outokumpu’s value chain from raw materials to own production and delivery.
Outokumpu joined the ResponsibleSteel initiative in 2019. ResponsibleSteel is a global multi-stakeholder standard and certification initiative for the steel industry. The initiative is developing an independent certification standard that helps the steel industry to communicate about carbon footprint and other sustainability aspects of their products and operations to customers and other stakeholders.
Worldsteel sustainability champion
Outokumpu has signed worldsteel’s sustainability development charter. Worldsteel member companies and associations have committed to seven sustainability principles, as outlined in the worldsteel Sustainable Development Policy: environmental protection, safety and health, local communities ethical standards, stakeholder engagement, disclosure and transparency, value for stakeholders.
In April 2021, Outokumpu was recognized as a Sustainability Champion by worldsteel. The Sustainability Champions Programme promotes steel companies that are most clearly demonstrating their commitment to sustainable development.
Outokumpu operates a chrome mine in Kemi, Finland. We are a member of The Finnish Network for Sustainable Mining, and Kemi mine is committed to the Finnish sustainability standard for mining. Read more about the environmental impacts of the mining operation in our Sustainability Review.
In September 2021, Outokumpu received the Responsible Chromium award from the International Chromium Development Association (ICDA). The award was given to six ICDA member companies with a verified rating from the independent sustainability rating company Ecovadis. Outokumpu has been evaluated by Ecovadis to be within the top 1% of companies in the industry in terms of sustainability.