Policies for climate change mitigation (E1-2)
Epiroc’s Sustainability Policy outlines our role in society and our commitment to contributing to the sustainable development of society, considering both people and the planet. It states that we:
- Support and are committed to helping accelerate the implementation of the Paris Agreement and the UN Sustainable Development Goals.
- Develop products and services to meet sustainability requirements.
- Use a lifecycle approach to minimize environmental impacts, including climate impact, that our products and services may have when developed, distributed and used, as well as during end-of-life treatment.
- Reduce our climate-related impacts by continuously developing our processes, including collaborating with our stakeholders to find solutions for global sustainability challenges.
- Ensure the safety and well-being of everyone who works with and for us.
- Ensure that we manage our business and sustainability agenda in a legal, efficient and effective way and that we are certified according to ISO 14001.
The policy defines how we should approach multiple sustainability matters, covering all material topics either directly or by referring to our Code of Conduct and Business Partner Code of Conduct. It guides us in reducing our climate-related impacts and addresses our climate-related risks and opportunities. The policy is approved by the President and CEO. External stakeholders can access the policy on our website, www.epirocgroup.com/en/sustainability.
Epiroc Environmental Principles describe how we should act in relation to environmental material topics, including development of new products and technologies. They include principles to actively work to reduce our climate-related impacts by implementing strategies and activities to reduce CO2e emissions from products, operations, suppliers and transport to reach our 2030 sustainability goals.
As an ISO 14001 certified company, we have defined our Environmental Principles based on the ISO standard as well as other internal and external requirements. The principles apply to all employees and govern all our work, regardless of location or position within our value chain. The principles are approved by Sustainability & SHEQ Council.
Epiroc Carbon Price Policy aims to guide decisions and investments towards lower carbon alternatives and ultimately net-zero in 2050. It gives the organization a tool to calculate and evaluate the financial impact of CO2e emissions. The policy is applicable for investments, M&A, sourcing and other processes and is applied globally across all Epiroc entities and functions. Respective council is responsible for developing a guideline of how and when to apply the policy. The policy is approved by the SVP Controlling, Finance and Sustainability (CFO).
Epiroc’s Business Partner Code of Conduct covers climate-related impacts from business partners. It specifies that our business partners must strive to choose fossil-free energy sources for their facilities and, if a business partner is particularly requested by Epiroc, have a plan in place for reducing their CO2e emissions. They must control and implement actions to reduce CO2e emissions, if relevant. Our business partners shall confirm their commitment to the development and promotion of environmentally friendly technologies in products, processes and design. Further, Epiroc’s Sustainable Sourcing Policy states that suppliers with SBTi-validated targets, relevant ISO certificates or equivalent certifications will be preferred to conduct business with.
Our Responsible Use of Resources Guidelines (see E5) ensures that products and materials utilized by Epiroc are considered valuable resources and remain in the ecosystem at their highest possible resource value. It states that it is crucial that circularity and waste prevention are considered throughout the lifecycle of a product. Responsible use of resources also has climate impacts.
The policies apply to all employees within the Epiroc Group. Divisional Presidents, General Managers and Managers in the Group have operational responsibility for communicating and implementing the policies. They are responsible for ensuring adherence to the policies in planning processes, strategy, training, target setting and performance. All policies are reviewed regularly and available for all internal stakeholders in the Epiroc Way.