Sustainable Business strategy

The sustainable business strategy for the Group was revised and adopted by the Group Executive Management in 2016. The sustainable business strategy builds on the two impact areas “our offerings” and “our operations” and their eight dimensions, four under each impact area. This is our sustainability agenda, and it is based on this agenda that we select a number of material aspects.

This is the result of an impact assessment made of our products and services in relation to our own operations. The strategy focuses on integrating sustainability into the Group’s central processes and business decisions. The strategy is based on international guidelines and principles such as the UN Global Compact, the OECD Guidelines for Multilateral Corporations and the UN Guiding Principles for Business and Human Rights.

Our offerings

We want to make our customers more sustainable. We develop products, solutions and services that enhance our customers’ sustainability through improved productivity and competitiveness, while reducing environmental impact, and promoting health and safety for our customers’ employees. We work with our customers throughout the product’s lifecycle by providing service and aftermarket support, such as customer buy-back programs which enable us to recover and recycle used products. We constantly strive to make our products more energy efficient, thereby lowering our customers’ costs.

Our operations

We want to become more sustainable. We believe that promoting sustainability and responibility in our own operations makes us a more long-term and trusted partner to our customers and other stakeholders. We work continuously to improve our internal processes, to address aspects such as our supplier management, energy use, emissions, water consumption, anti-corruption, fair working conditions as well as other human rights.

Sandvik’s sustainability agenda

Materiality analysis for Sandvik group

The Group Executive Management conducts a materiality analysis on a regular basis. The starting point is the sustainability agenda for the Group, deriving from international frameworks and institutions such as the Global Reporting Initiative (GRI), the UN Global Compact, from media reports, global trends and from dialogues with our stakeholders, in addition to our own assessment of relevant areas.

In late 2016, a materiality analysis was conducted which applies for 2017–2019. A number of questions relating to the prioritization of our Group sustainability agenda were sent out to internal and external stakeholders. Following a decision by the Group Executive Management, inspired by the stakeholder dialogue, five aspects were selected as material for the Group (see below). A new materiality analysis is planned to be held in 2019.

Materiality analysis for the business areas

Each business area has conducted a materiality analysis which also applies for 2017–2019, please see below. Read more about how the business areas work with sustainability in chapter Operations. Targets and follow-up on targets for our offerings are presented for each business area under Sustainability targets: our offerings.