The Atlas Copco Group has released an update regarding progress on their non-financial targets, as well as the targets for the years 2025-2027. These include environmental- and diversity goals. Additionally, a new target related to trade compliance and fair competition training has been added. The long term non-financial targets remain unchanged.
Among other things, the company wants to achieve a 25% share of women in management positions by 2030. Atlas Copco has set itself the goal of creating a working environment in which all employees can thrive, grow, and feel a sense of belonging. A key aspect of this is gender balance throughout the organization. In addition, the current target of 30% women in the same year remains in place.
“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.
Further main updates to the targets
Circularity principles in product development
Circularity describes a way of production and consumption that aims to decrease the use of raw materials and reduce waste. With the updated circularity target, the Atlas Copco Group commits to systematically applying circularity principles in its product development. This includes all new and redesigned products by 2027.
Climate targets beyond 2030
With the updated targets, the Group commits to creating a climate transition plan by the end of 2026. In addition, establishing long-term climate goals for Scope 1, 2, and 3 emissions beyond 2030 is a part of this section. This is a logical progression of the efforts initiated in 2021, when Atlas Copco Group set science-based targets to reduce greenhouse gas emissions across its value chain by 2030, aligning with the Paris Agreement.
Trade compliance and fair competition training
The company knows how important awareness in trade compliance rules and regulations is for navigating the ever-changing geopolitical landscape. Atlas Copco believes in fair competition to ensure equal conditions for business. For these reasons, the Group adds a target that employees in relevant target groups will participate in training in trade compliance and fair competition.
Updates help to keep the company accountable
The Atlas Copco Group regularly reviews its non-financial targets. This is to ensure that the Group aligns its priorities with the most important issues to meet stakeholder expectations and also improve its performance. The double materiality assessment means that the company will remove some of the current non-financial targets when the updated targets take effect in January 2025.
All Atlas Copco Group’s targets are available on the company’s website.
