MEKO receives approval for science-based climate targets

MEKO has received approval for its climate targets from the Science Based Targets initiative (SBTi), a leading global standard that ensures companies’ emission goals are scientifically sound and aligned with international climate policy. The approval marks an important step in advancing MEKO’s sustainability strategy and provides independent confirmation of the company’s commitment to responsible business practices.

"We are proud to be among the first in our industry to have our science-based climate targets approved. This is a strong confirmation that we are on the right path – but more importantly, it’s a starting point. Now the real work begins with turning these ambitions into concrete action throughout our operations and together with our partners and suppliers”, says Louise Wohrne, Head of Sustainability at MEKO.

The approval follows MEKO’s long-standing commitment to integrating sustainability into operations as a natural part of value creation. Driving sustainability efforts within the automotive aftermarket have been strategically important for a long time, and the now-approved science-based targets provide MEKO with an even stronger foundation for continued progress. The connection between sustainability performance and business underscores MEKO’s belief that sustainability is not a separate initiative, but a core driver of long-term value and business resilience. The now-approved science-based targets represent a natural next step.

"Science-based targets are more than a strategic decision; they are a commitment to continue driving innovation, growing responsibly, and strengthening our resilience in a changing world. As a leading player in our industry, we see it as self-evident to also lead the way in sustainability. These targets are an external, scientifically grounded confirmation that MEKO’s climate ambitions are both credible and aligned with what science deems necessary to avoid the most severe impacts of climate change,” says Louise Wohrne.

MEKO’s approved climate targets:

Overall Net-Zero Target:
MEKO commits to achieving net-zero greenhouse gas emissions across its entire value chain by 2050.

Near-Term Targets (by 2033):

• Reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 54.6 percent, from a 2023 base year.*
• Reduce absolute Scope 3 GHG emissions from the use of sold products for fossil fuel products
  by 54.6 percent, from a 2023 base year.
• MEKO commits that 85 percent of our suppliers by spend, covering purchased goods and services, have set their own science-based targets by 2030.

Long-Term Targets (by 2050):

• Reduce absolute Scope 1 and 2 GHG emissions by 90 percent from a 2023 base year.*
• Reduce absolute Scope 3 GHG emissions from the use of sold fossil fuel products by 90 percent, from a 2023 base year.
• Achieve a 97 percent reduction in Scope 3 GHG emissions per million SEK of value added within the same timeframe.

^{*Target boundaries include land-related emissions and removals associated with bioenergy feedstocks.}