Ovako’s manufacturing process is based on recycled steel scrap and a Nordic fossil-free electricity mix. As a result, the carbon footprint of Ovako’s steel products is a full 80 % lower than the global average. It is also clean and strong because Ovako minimizes impurities in the steel during the production process. That gives the steel high-quality properties that enable customers to create lighter, stronger and more durable end products.
Product life cycle
Ovako has conducted a materiality analysis to identify the areas with the greatest importance for Ovako and the company's stakeholders. The key sustainability areas that were identified cover Ovako's entire business and product offering.
Ovako's material sustainability areas have subsequently been divided into three categories – business-critical, focus and fundamental.
Through ongoing improvements to its production processes, Ovako is steadily reducing its environmental impact. Examples of improvement efforts includes efficient energy and water usage and reduction of carbon dioxide, which ensures that the company meets requirements by legislation or by customers.
Ovako strives to create attractive workplaces for its employees and to contribute to a society that is sustainable in the long-term. Efforts include professional development of employees and community activities such as support of local sports clubs, buying service and maintenance from local suppliers and other initiatives that contributes to maintaining a vibrant community.
Ovako does business in an ethical and honest way and has zero tolerance for all forms of corruption, bribery, anti-competitive actions and comparable conduct. Suppliers and partners are also required to prevent all forms of corruption and to comply with the policies Ovako has drafted in this area.
Governance and monitoring
Ovako works in accordance with the ILO Declaration on Fundamental Principles and Rights at Work, the Rio Declaration, the Ten Principles of the UN Global Compact and the UN Universal Declaration of Human Rights, as well as combating corruption and environmentally destructive activities.
Laws and requirements related to sustainability are a minimum level for Ovako and systematic efforts are ongoing to identify new and amended laws and take action where necessary.
Sustainable Development Goals
Ovako supports the UN’s global Sustainable Development Goals and has identify the areas in which Ovako can contribute to their achievement. Below is a selection of the company’s activities that in various ways contribute to meeting the goals.