Electrolux Group has said that sustainability remains a ‘cornerstone’ of its operations, as the Swedish home appliance giant reaffirmed its sustainability targets at a capital markets event in Stockholm.
Electrolux is aiming to reduce Scope 1 and 2 emissions by 85% and Scope 3 emissions by 42% by 2030 compared with 2021 levels, goals that align with its science-based targets and the company’s ‘ambition to lead the industry in climate action and circularity’, it said in a statement.
As of the end of September this year, it had achieved a 42% reduction in Scope 1 and 2 emissions, against a 2021 baseline, meeting the criteria set by the Science Based Targets initiative (SBTi) as well as Paris Agreement targets.
Electrolux Group also announced an updated business strategy, identifying its main levers for growth as strengthening its core brands, focusing on key markets, and expanding in its main channels and product categories. As of 1 January, the company is implementing a series of organisational changes, including the introduction of a commercially focused Region Asia-Pacific.
Other announcements at the capital markets event include that Electrolux is targeting at least 4% organic sales growth over its current business cycle, as well as an operating margin of 6%.
