“The updates do not only raise our ambitions they also present business opportunities to leverage as we continue our path to transform the future and further develop our performance for the benefit of our customers, shareholders and other stakeholders going forward,” said Vagner Rego, President and CEO, Atlas Copco Group.
The main updates to the Atlas Copco Group targets are:
Circularity principles in product development
Circularity is a model of production and consumption to decrease the use of raw material and reduce waste to a minimum. Through the updated circularity target, the Group commits to systematically apply circularity principles in its product development, covering all new and redesigned products by 2027.
Climate targets beyond 2030
With the updated targets Atlas Copco Group commits to developing a climate transition plan by the end of 2026 and to set long-term climate targets beyond 2030 for scope 1, 2 and 3. This is a natural next step in the work started already in 2021 when Atlas Copco Group set Science-Based Targets to reduce greenhouse gas emissions throughout the value chain by 2030 in line with the Paris Agreement.
Women in leadership positions
Atlas Copco Group is committed to diversity and inclusion and to cultivate an environment where all employees can thrive, grow and feel a sense of belonging. Gender balance throughout the organization is an important aspect, which is why the Group now adds a target to have 25% women in leadership positions by 2030 in addition to the current target of having 30% women employees the same year.
Trade compliance and fair competition training
Atlas Copco Group supports and strives for fair competition to ensure equal conditions for business. Awareness in trade compliance rules and regulations is key to navigate the constantly changing geopolitical landscape. For these reasons, Atlas Copco Group adds a target that employees in relevant selected target groups will participate in training in trade compliance and fair competition.
Atlas Copco Group regularly reviews its non-financial targets to make sure the Group aligns priorities with its most material topics, thereby meeting stakeholder expectations and improving performance. The double materiality assessment means that some of the current non-financial targets will be removed when the updated non-financial targets come into effect in January 2025.
