SustainabilityReport 2023 high - Flipbook - Page 11
OUR ESG STRATEGY
In 2022, Terratech implemented a new organizational
structure to e昀昀ectively oversee ESG activities. We
have introduced the role of Head of Quality and ESG
within Terratech, along with an Ambassador Group
comprising representatives from each of our three
companies: SVAB, Steelwrist, and Sjørring.
The new ESG organization has analyzed our ESG
practice, set up a new way of working and a structure
for how to work with ESG continuously throughout
Terratech. This will continue to evolve during the
coming years.
Our main ESG goal is to enhance and maintain a
sustainable business practice and a sustainable
product portfolio. To accomplish our goal, we
have broken down our stakeholders wishes and
needs, combined this with global frameworks
and sustainability practice as well as analyzed the
companies’ main areas for improvement. From this
we have then de昀椀ned goals we would like to reach in
the near future and in the longer term.
The ESG work, as mentioned, is done continuously
where we gather data through the year, perform
our decided actions as part of the day-to-day
work for all our co-workers, de昀椀ne new actions for
further possibilities to reach our goals as well as
spread the information of the work we do to all our
stakeholders.
towards the areas our stakeholders believe we
should prioritize in our sustainability endeavors.
Goals (SDG) as well as to the Science Based Targets
Initiative (SBTI) that Terratech have signed up to join.
Drawing from this assessment, we have identi昀椀ed
speci昀椀c sustainability focus areas for Terratech moving
forward. These "sustainability focus areas," include:
1) Achieving net- zero emissions, 2) Ensuring zero
accidents, and 3) Ensuring Terratech as a responsible
business. Chapter 3 will delve into these areas with
greater detail, providing comprehensive descriptions
of our strategies and initiatives.
We have also analyzed the SDG:s and SBTI
to 昀椀nd other areas where we as a
company should improve and
might be able to create an
even greaterimpact with
further development.
Within each of these de昀椀ned focus areas, we have
analyzed the potential for improvements from previous
years data and connected these to development
targets within the UN:s Sustainable Development
BY 2040:
Net zero
Emissions
BY 2037:
BY 2030:
BY 2028:
BY 2023:
Terratech ESG
governance
structure
Zero accidents
from Terratech
products and
business
Reduce scope
1 & 2 emissions
by 46% from 2019
Reduce scope 1,
2 & 3 emissions
by 90% from
2019
The materiality assessment conducted some time
ago serves as a valuable compass, guiding us
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