Sandvik is committed to advancing circular economy initiatives by fostering circular value chains to enhance sustainable materials.
Sandvik is a Swedish multinational engineering company that specializes in mining, materials technology, and tooling. Founded in 1862, it has since grown into a global industrial group with a presence in more than 160 countries.
Pursuing Circular Economy Initiatives
It strives to drive circularity and resource efficiency, striving to achieve more with less and working towards the establishment of circular value chains. Its commitment lies in contributing to the construction of a global economy founded on circular business models.
By minimizing waste and devising novel methods to capture sustainable materials and products within closed loops, it aims to diminish carbon emissions and yield environmental advantages for land and water. Furthermore, in the realm of critical minerals, circularity is seen as a means to satisfy the heightened demand brought about by the energy transition.
Its objectives is to reach 90% materials circularity for packaging, products, and waste by the year 2030, with corresponding expectations for its key suppliers. Sandvik integrates circular economy principles and resource efficiency into its business through various strategies.
Driving Sustainable Materials through Comprehensive Strategies
Within its own operations, efforts are underway to eliminate waste going to landfills. In regions lacking robust waste management infrastructure, it collaborates with procurement to identify alternatives to landfill disposal. This involves an assessment of whether a product necessitates packaging. It’s also to determine the most environmentally efficient option, including the introduction of AI-driven smart packaging.
It strives to advance the productivity and automation of its equipment and services that enhance resource efficiency. Its commitment extends to incorporating a greater proportion of circular materials into its products.
As a circular economy begins at the design stage, it intends to improve material and resource efficiency across all projects. Its ambition is to design products with refurbishment, remanufacturing, or recycling in mind. It also aims to preserve materials and products at their highest utility for as long as possible.
To facilitate this objective, it is actively developing circular business models to keep valuable materials in circulation. It also engages in innovative efforts to create sustainable materials for additive manufacturing.