NF1 About this report
This is our nineteenth consecutive year of sustainability reporting, and our commitment to annual sustainability reporting remains unchanged. The report was published on March 10, 2025. The data presented refers to the fiscal year 2024. The most recent Sustainable Business Report was published in March 2024. The non-financial notes include information on strategy, management approaches, stakeholder dialogues, and sustainability data.
Information meeting the Swedish legal requirements on sustainability reporting, the Statutory Sustainability Report, and Sandvik Sustainable Business Report, are found under About Sandvik, Sustainability targets, Sustainability shift, Risk management, Non-financial notes. Please refer to note P11 for a list of entities included in the figures unless otherwise specified.
This report adheres to the Global Reporting Initiative, GRI Standards 2021. The figures presented are accumulated for the 2024 fiscal year for all active reporting units, unless stated otherwise. An operational control approach was used for consolidations. The report covers material aspects defined in the materiality assessment described under Sustainability governance and has undergone external review. No restatements of information from previous reporting periods have been made.
Sandvik has been a signatory to the UN Global Compact (UNGC) since 2013, reporting on the ten principles in accordance with the UN Global Compact advanced level criteria.
In 2023, the Science Based Targets initiative (SBTi) approved Sandvik science-based greenhouse gas emission reduction targets. Our climate impact is disclosed through the non-profit organization CDP.
An independent assurance provider, engaged by the Board of Directors and the CEO of Sandvik, has undertaken a combined assurance of the Sandvik Annual Report 2024.
The Sandvik Code of Conduct, Sandvik Supplier Code of Conduct, and Sandvik Business Partner Code of Conduct are publicly accessible on home.sandvik/sustainability. Group policies, classified as internal documents, are available on the company intranet, having received approval from the Group Executive Management team. 14 policies, including the Anti-Bribery and Corruption Policy, have also been approved by the Board of Directors. These commitments apply organization-wide, including for business relationships, and are communicated via the line organization.
For additional details on our reporting, please visit home.sandvik/sustainability.