Making progress on our climate targets
We are happy to announce good progress on our science-based climate targets! We have reached one target and are on track to meet the other - but there is still more work to be done by 2030.
Exceeding facility emissions target
In 2024, Mycronic surpassed its target to reduce greenhouse gas emissions stemming from energy used mainly by our facilities. This target is a so called scope 1 and 2 target and consists in reducing greenhouse gas (GHG) emissions by 56% to 2030. In 2024, Mycronic achieved a 65% reduction in these GHG emissions compared to the base year. This is mainly the result of several facilities purchasing renewable electricity. We have increased our share of purchased renewable electricity from 47% in 2022 to 87% in 2024. Going forward, the focus is on maintaining these low emission levels as the company grows.
Learn more about our climate targets here: https://www.mycronic.com/news-events/news/science-based-targets-approved/
Positive progress on scope 3 target
We have also made positive progress on our relative scope 3 target, which is about reducing GHG emissions stemming from the use of our sold products by 52%, relative to Mycronic’s gross profit. In 2024, we achieved a 32% decrease in emissions relative to our gross profit. Although absolute emissions from sold products have increased by 11% since the base year, our gross profit has increased more, resulting in a decrease of emissions relative to gross profit. Whilst Mycronic still has a lot of work to do to achieve the target, we are starting to see the effects of energy efficiency improvements for some of our product families.
Watch our explainer video about our science-based targets here:
For a more sustainable future
In conclusion, while Mycronic has made significant strides towards reaching its science-based climate targets, there is still much work to be done. We remain focused on maintaining and further reducing GHG emissions to achieve our targets and contribute to a more sustainable electronics industry.
Background
In June 2024, our science-based targets were approved and replaced Mycronic’s previous climate targets. Our new targets cover more than 80% of Mycronic’s greenhouse gas emissions and address our largest emission category, emissions that arise when customers use our products.
Two science-based near-term targets
Mycronic has set two science-based near-term greenhouse gas emission targets from the base year of 2022 until 2030. Mycronic is committed to reducing its absolute scope 1 and 2 greenhouse gas emissions by 56 percent. This includes emissions from our own facilities and company owned cars. Mycronic has also set a relative target to reduce scope 3 GHG emissions by 52 percent per SEK gross profit. This target covers greenhouse gas emissions from the use of sold products, emissions that arise from electricity usage when Mycronic machines are run at customers' sites.
The climate targets have been verified by the Science Based Targets initiative and are in line with the Paris Agreement's aim of limiting global warming to 1.5 degrees Celsius above pre-industrial levels.
Download our Annual and Sustainability report
Read more about our sustainability work in Mycronic Annual and Sustainability Report 2024 that you can download from here:
https://www.mycronic.com/investors/financial-reports/