Metrics and targets
Targets relating to climate change (E1-4)
Our 2030 climate goals include four absolute reduction targets against the base year 2019.
- Halve CO2e emissions in operations (SBTi validated)
- Halve CO2e emissions from machines sold (SBTi validated)
- Halve CO2e emissions from transport
- Require 50% reduction of CO2e emissions from relevant suppliers
We have also set yearly targets to monitor progress toward our 2030 goals and the implementation of our transition plan. Progress goals and targets are reported quarterly to Group Management, Audit Committee and the Board. Twice a year, roadmaps with activities, progress and way forward, are reported by Councils to Group Management.
In November 2021, we received validation from the SBTi for two of our goals. These goals are well above the SBTi’s minimum requirements, and in line with keeping global warming at a maximum of 1.5°C. This is consistent with the scientific assessments provided by the International Panel for Climate Change (IPCC) and in line with the Paris Climate Agreement.
Progress on targets
The 2025 target** was 60 ktonnes CO2e, and the result was 55 ktonnes CO2e. Target was achieved mainly by the switch to renewable energy and the implementation of energy‑efficiency measures across our facilities and processes. The 2026 target has been set to meet higher expected production volumes and service activity before further reductions can be achieved.
The 2025 target*** was 6 593 ktonnes CO2e and the result was 6 430 ktonnes CO2e. Target was achieved mainly by a more favorable product mix in 2025. The 2026 target has been set to meet organic growth and slow electric uptake in the short-term. Increased demand for low- and zero-emissions equipment is expected in the coming years.
The 2025 target** was 1 268 ktonnes CO2e (direct sourcing) and the result was 1 289 ktonnes CO2e. The increased result is explained by higher spend than forecasted. The 2026 target has been set to meet expected growth and limitations in the current spend based methodology.
The 2025 target** was 141 ktonnes CO2e and the result was 141 ktonnes CO2e.
* The base year 2019 has been restated
** The targets for 2025 have been revised to align with the full reporting scope.
*** The target for 2025 has been revised to ensure alignment with calculation methodology changes.
Emissions-free product offering
The 2025 target was 47% and the result was 43%, showing a slight increase compared to 2024 (42%).
Our previous 2025 target of offering a full range of emission‑free products underground has been postponed to 2030, reflecting a more gradual‑than‑expected industry transition and slower overall market adoption.
Renewable energy
The 2025 target was 58%, and the result was 55%. The lower result is explained by limited availability of renewable energy options.
Absolute emissions targets
| Target scope | GHG scope/category | BY 2019 emissions (ktCO2e) | 2030 goal (vs. BY) | 2025 (ktCO2e) | 2025 (vs. BY) | 2025 target (ktCO2e) | 2026 target (ktCO2e) | 2030 goal (ktCO2e) | 2030 goal completion |
|---|---|---|---|---|---|---|---|---|---|
| Operations 1) (SBTi validated) | Scope 1 & 2 Market-based | 97 | -50% | 55 | -44% | 60 | 60 | 48 | 87% |
| Transport 1) | Scope 3 Category 4 & 9 | 186 | -50% | 141 | -24% | 141 | 137 | 93 | 48% |
| Machines sold (SBTi validated) | Scope 3 Category 11 | 6 871 | -50% | 6 430 | -6% | 6 593 | 7 716 | 3 436 | 13% |
| Purchased goods and services 1)2) | Scope 3 Category 1 | 1 255 | -50% | 1 401 | 12% | 1 268 | 1 446 | 627 | 0% |
| 1) Estimations have been added to achieve full reporting scope and the 2025 target has been restated to align with the full scope. See more information on estimations in "GHG accounting methodology" below. | |||||||||
| 2) 2030 climate goal: Require 50% reduction of CO2e emissions from relevant suppliers. 2025 target is limited to direct sourcing only. | |||||||||
Other targets related to climate change mitigation
| Target | Base year (BY) | Base year (%) | 2025 (%) | 2025 target (%) | 2026 target (%) | 2030 goal (%) |
|---|---|---|---|---|---|---|
| Renewable energy in own operations 1) | 2019 | 38 | 55 | 58 | 57 | 90 |
| Offer a full range of emissions-free 2) products | 2021 | 35 | 43 | 47 | 47 | 100 |
| 1) Share of renewable sources incl. renewable of mix in total energy consumption. Limited to on-site energy consumption. Estimations have been added to achieve full reporting scope. See more information on estimations in "GHG accounting methodology" below. | ||||||
| 2) Emissions-free products include solutions that do not emit exhaust gas or other pollutions from the onboard source of power, also referred to as zero tailpipe emissions. | ||||||
Target methodology
Target setting method: Our total value chain CO2e emissions formed the basis for our target-setting, in line with criteria from SBTi. The absolute contraction approach method was used for the target-setting as no available sectoral decarbonization pathway is available for our sector.
Stakeholder involvement: Our 2030 climate goals were developed to align with external stakeholder expectations, however stakeholders have not been directly involved in target setting.
Target boundary: Operations covered by our targets are consistent with our GHG inventory boundaries, which cover the entire Group. At the entity level, targets are set for major contributors that report environmental data internally.
Base year selection: The base year 2019 was selected in the process of submitting our targets to SBTi, where the most recent completed past calendar year was selected. The base year is restated to ensure meaningful comparisons of CO2e emissions data over time.
Read more about our restatement process and our GHG inventory boundaries in Greenhouse accounting methodology below.
Energy (E1-5)
Energy consumption, mix and intensity
| (GWh) | 2025 3) | 2024 3) |
|---|---|---|
| Fuel consumption from coal and coal products | - | - |
| Fuel consumption from crude oil and petroleum products | 86 | 98 |
| Fuel consumption from natural gas | 56 | 49 |
| Fuel consumption from other fossil sources | 4 | - |
| Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources | 53 | 44 |
| A. Total fossil energy consumption | 199 | 191 |
| Share of fossil sources in total energy consumption (%) | 62 | 61 |
| B. Consumption from nuclear sources | 4 | 1 |
| Share of consumption from nuclear sources in total energy consumption (%) | 1 | 0 |
| Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) | 8 | 3 |
| Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources | 100 | 112 |
| The consumption of self-generated non-fuel renewable energy | 8 | 6 |
| C. Total renewable energy consumption | 116 | 121 |
| Share of renewable sources in total energy consumption (%) | 36 | 39 |
| Share of renewable sources incl. renewable of mix in total energy consumption (on-site) (%) 1)2) | 55 | 58 |
| Total energy consumption (A+B+C) | 319 | 313 |
| 1) Renewable of mix does not have any certificate or similar statement from the energy provider that assures only renewable energy sources are used for the electricity or district heating provided according to the contract. | ||
| 2) Our 2030 target of reaching 90% renewable energy in own operations includes on-site energy consumption only. | ||
| 3) Estimations have been added to achieve full reporting scope. See more information on estimations in "GHG accounting methodology" below. | ||
| 2025 | 2024 | |
|---|---|---|
| Total energy consumption per net revenue (MWh/MSEK) 1) | 5.14 | 4.92 |
| 1) Net revenue is total revenues presented in the Consolidated income statement. | ||
In 2025, 8 GWh of renewable energy was produced from solar power.
GHG Emissions (E1-6)
GHG emissions
| Retrospective | Milestones and target years | ||||||
|---|---|---|---|---|---|---|---|
| (ktCO2e) | Base year (2019) | 2025 | 2024 | % Yearly Change | 2026 | 2030 | 2026 target / Base year (%) |
| SCOPE 1 GHG EMISSIONS | |||||||
| On-site 1) | 19 | 14 | 12 | 14 | 15 | 9 | -20 |
| Company vehicles 1) | 22 | 18 | 21 | -13 | 20 | 11 | -10 |
| Gross Scope 1 GHG emissions | 41 | 32 | 33 | -3 | 35 | 20 | -15 |
| SCOPE 2 GHG EMISSIONS | |||||||
| On-site 1) | 56 | 23 | 21 | 5 | 25 | 28 | -55 |
| Company vehicles 1) | - | - | - | - | - | - | - |
| Gross Scope 2 GHG emissions (Location-based) | 62 | 37 | 38 | -4 | – | – | – |
| Gross Scope 2 GHG emissions (Market-based) | 56 | 23 | 21 | 5 | 25 | 28 | -55 |
| SIGNIFICANT SCOPE 3 GHG EMISSIONS | |||||||
| Purchased goods and services 1) | 1 255 | 1 401 | 1 354 | 3 | 1 446 | 627 | 15 |
| Upstream and downstream transportation and distribution 1) | 186 | 141 | 128 | 10 | 137 | 93 | -26 |
| Use of sold products | 6 871 | 6 430 | 6 780 | -5 | 7 716 | 3 436 | 12 |
| Gross Scope 3 GHG emissions – (significant categories) | 8 312 | 7 971 | 8 262 | -4 | 9 298 | 4 156 | 12 |
| Total GHG emissions (location-based) | 8 415 | 8 041 | 8 333 | -4 | – | – | – |
| Total GHG emissions (market-based) | 8 409 | 8 026 | 8 316 | -3 | 9 358 | 4 204 | 11 |
| 1) Estimations have been added to achieve full reporting scope and the 2025 target has been restated to align with the full scope. See more information on estimations in "GHG accounting methodology" below. | |||||||
Biogenic emissions and GHG intensity
| (ktCO2e) | 2025 | 2024 |
|---|---|---|
| Biogenic emissions of CO2 from the combustion of biomass (Scope 1) | 2 | 1 |
| Biogenic emissions of CO2 from the combustion of biomass (Scope 3) | 2 | 3 |
| (tCO2e/net revenue) | 2025 | 2024 |
|---|---|---|
| Total GHG emissions per net revenue (location-based) 1) | 0.13 | 0.13 |
| Total GHG emissions per net revenue (market-based) 1) | 0.13 | 0.13 |
| 1) Net revenue is total revenues presented in the Consolidated income statement. | ||
Greenhouse accounting methodology
Greenhouse gas emission reporting is carried out in accordance with the GHG Protocol (www.ghgprotocol.org). The main greenhouse gases carbon dioxide (CO2), methane (CH4) and nitrous oxide (N20) are included. In tables, the unit “ktCO2e” is presented. Carbon dioxide equivalent (CO2e) is a unit that standardizes the climate effects of various greenhouse gases.
Estimates
To ensure full emissions coverage across all reported CO2e emissions scopes and categories, our data includes a proportion of extrapolated estimates alongside other data sources. For 2025 estimates cover 7% for scope 1 and scope 2, 29% for scope 3 category 1, 5% for scope 3 categories 4 and 9 and 0% for scope 3 category 11. Epiroc aims to increase the share of primary data over time. Estimations remain a necessary step to ensure total Group impact is presented, and the methodology is reviewed annually. Read more about the estimations methodology in Basis for preparation.
Reporting period exceptions
Certain reporting entities apply a lagging month approach, using the period December 1, 2024 to November 30, 2025. This is applied for data included in scope 1, scope 2, and for scope 3 categories 4 and 9. The same approach is applied for scope 3 category 11, where one product line applies the period January 1, 2025 to December 25, 2025, supplemented by an estimated average for remaining days.
Scope 1
The calculation of CO2e emissions from direct energy, i.e., energy generated by the company for its own production or operation, comprises all fuels used on the sites, including diesel, gasoline, coal, propane, natural gas, methanol, HVO renewable diesel, biogas and bioethanol. Standardized emission factors published by DEFRA (UK) are used to calculate CO2e emissions for direct energy.
Scope 2
The calculation of CO2e emissions of indirect energy, i.e., energy purchased externally by the company, includes electricity, district heating and cooling used at the sites.
Market-based method: A market-based method reflects emissions from indirect energy (electricity and district heating) that an organization has purposefully chosen (or its lack of choice). Standardized country factors published by International Energy Agency are used to calculate CO2e emissions for indirect energy when an emission factor has not been provided by the supplier. An emission factor of zero has been used for renewable energy connected with energy attribute certificate (EAC). In 2025, 36% of market-based GHG emissions were associated with unbundled EACs, such as I-RECs, GOs, and RECs.
Location-based method: A location-based method reflects the average GHG emissions intensity of grids on which energy consumption occurs, using mostly grid-average emission factor data. Standardized country factors published by International Energy Agency are used to calculate CO2e emissions for all indirect energy.
Scope 3
Purchased goods and services (category 1): CO2e emissions from purchased goods and services include all upstream emissions from suppliers but exclude certain categories such as transportation, capital goods, waste generated in operations and leased assets. In 2025, indirect sourcing’s emissions were added as well as estimations to achieve full reporting scope. Indirect sourcing’s portion represents 8% of the total CO2e emissions, with the largest categories being professional services, packaging materials and manufacturing consumables and equipment. The calculation of CO2e emissions from purchased goods and services uses a spend-based methodology, where spend-based data is multiplied by emission factors from Exiobase and Environmental Protection Agency. Emission factors have not been adjusted for inflation. Current gap in data completeness is explained by data accessibility issues due to recent large acquisitions. Estimations have been calculated based on assessing the spend coverage in the calculations and based on this, applied the average emissions per spend on the missing portion to achieve a full coverage. The spend-based methodology makes it difficult to distinguish actual emission reductions from inflation, currency fluctuations, and price changes. To improve accuracy, we are transitioning to a hybrid approach that combines spend-based, weight-based, and supplier-specific data, which may lead to restatements of historical figures as more precise data becomes available. Weight-based calculation methodology uses the actual weight of materials and components, while supplier-specific methodology uses precise data from suppliers.
Transport (categories 4 & 9): The calculation of CO2e emissions of transportation includes all upstream and downstream third-party transports throughout the supply chain from first tier supplier to end customer. Third-party transports include transports in vehicles not owned or controlled by the Epiroc Group. Well-To-Wheel CO2e emissions from the forwarders are collected. If this data is not available, calculation of CO2e emissions is performed using an internal calculation tool, applying a distance-based method and emission factors from Network for Transport measures (www.transportmeasures.org). For biofuels, a fuel-based method has been mainly used.
Use phase of sold machines (category 11): Unique operation cycles for each product are defined. CO2e emission from use phase is calculated based on diesel usage, electricity usage and life length. For diesel, a 100% mineral diesel emission factor from DEFRA (UK) is used. IEA national emission factors for electricity are used for CO2e emissions from electricity use, where an average emission factor is used based on the countries where the products in each product family are sold. These IEA national emission factors include direct combustion as well as upstream emissions from fuels and emissions from transmission and distribution losses, this to reflect full life cycle emissions from electricity. In the reporting scope, all products carrying their own energy source on-board (diesel engine, electrical motor and compressor) are included. Products without their own energy source are excluded, such as drilling equipment with an external compressor and hydraulic attachments.
Other scope 3 categories: Only significant scope 3 categories are reported. Non-material scope 3 categories accounted for less than 4% in base year 2019, according to the value chain analysis from 2021.
Outside of scopes
Outside of scopes includes biogenic CO2 factors that should be used to account for the direct CO2 impact of burning biomass and biofuels. Standardized emission factors published by DEFRA (UK) are used to calculate outside of scope CO2e emissions. Biogenic CO2 emissions from scope 2 are currently excluded.
Base year recalculation
Recalculation of base year (2019) emissions is performed for significant structural changes, improvements in calculation methodology or data accuracy. Restatements for structural changes are not applied to other historical data; emissions instead reflect the entities under Epiroc’s operational control in each respective reporting year. This year the following events triggered restatements of 2019 base year:
- Scope 1, 2 and 3 Transport: Acquisitions and estimation of previously excluded CO2e emissions.
- Scope 3 Use phase of sold products: Methodology update resulting in more accurate energy consumption and life length and updated diesel CO2e emission factor to reflect 100% mineral diesel. We are in the process of collecting more accurate data on products’ useful lives which may result in restatements of base year data going forward.
- Scope 3 Purchased goods and services: Acquisitions and estimation of excluded CO2e emissions including indirect sourcing.
GHG removals and carbon credits (E1-7)
No GHG removals and GHG mitigation projects were financed through carbon credits in 2025.
Internal carbon price (E1-8)
Epiroc applies an internal carbon price to include climate-related considerations in decision-making and incentivize the implementation of the transition plan. Read more about Epirocs Carbon Price Policy in Policies for climate change. This approach ensures that the cost of carbon is embedded in strategic and operational choices across the organization. The carbon price is based on a shadow pricing model which assigns a hypothetical monetary value to each tonne of CO2e emitted. This shadow price is applicable for investments, M&A, sourcing and other processes and is applied globally across all Epiroc entities and functions. The shadow price calculation is limited to major investments and for decisions subject to significant climate impact, however we are not currently able to calculate the percent our carbon price is applied to our total emissions at this time. Relevant council is responsible for developing a guideline within their domain, ensuring relevance and effectiveness.
The carbon price is determined using scientific guidance from EU ETS and IEA scenarios. The pricing model has been used in recent investment cases to validate its impact and relevance. The carbon price applied is reviewed yearly.