Sub-Sahara Mining & Industrial Journal
Industrial News

SKF allocates EUR 300 million to green investments

SKF has reached a significant milestone, with a total of EUR 300 million now allocated to investments in accordance with SKF’s Green Finance Framework. The funding comes from the Group’s 10-year Green Bond and is an important part of SKF’s focus on reducing its own emissions as well as increasing investments in R&D, production, testing and remanufacturing capacity for products used in industries such as renewable energy generation, electric vehicles and railway applications.

Niclas Rosenlew, Senior Vice President and CFO, says: “It’s fantastic to be able to see the impact and wide breadth of projects which this funding is supporting. These investments are essential in contributing to the transformation of SKF and the industries which we support.”

SKF’s Green Finance Framework has been independently evaluated by the Center for International Climate Research (CICERO).

SKF’s mission is to be the undisputed leader in the bearing business. We do this by offering solutions that reduce friction and CO2 emissions, whilst at the same time increasing machine uptime and performance. Our products and services around the rotating shaft, include bearings, seals, lubrication management, artificial intelligence and wireless condition monitoring. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2020 were SEK 74 852 million and the number of employees was 40,963.

® SKF is a registered trademark of the SKF Group.

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