SKF joins the Renewable Energy 100 initiative

GOTHENBURG,Sweden,Sept. 23,2020 -- As part of SKF's goal to achieve Carbon Neutrality for its global manufacturing operations by 2030,the company is pleased to announce that it has joined the Renewable Energy 100 (RE100) initiative.

RE100 is a global initiative bringing together the world's most influential businesses committed to using 100% renewable electricity.

Kent Viitanen,President,Bearing Operations,says: "Achieving Carbon Neutrality by 2030 is an integral part of SKF's overall strategy. We see this as part of our responsibility and we are convinced that making this transition will create a long-term competitive advantage for SKF and our customers. We aim to achieve it by improving energy and material efficiency in our operations whilst increasing the sourcing or self-generation of renewable energy. Our aim to get to 100% renewable energy by 2030 or sooner is fully aligned with the RE100 ambition and approach."

Sam Kimmins,Head of RE100,the Climate Group,says:"We are delighted to welcome SKF to RE100. By transforming their global business operations to renewable electricity,SKF are demonstrating a strong commitment to combat climate change,whilst underlining the business case for renewables. We look forward to seeing other industrial businesses follow their example."

Johan Lannering,Director Group Sustainability & SKF Nova,says: "This is how we address our responsibility as a user of energy,and we are also proud that our products and solutions are key enablers of renewable energy systems such as wind energy and emerging technologies like tidal power. On the demand side,our Rotating Equipment Performance offer is helping industrial companies in all sectors around the world to improve energy efficiency and operational performance."

Aktiebolaget SKF

(publ)

For further information,please contact:

PRESS: Carl Bjernstam,SKF Group Communication

tel: 46 31-337 2517,mobile: 46 722-201 893,e-mail: carl.bjernstam@skf.com

INVESTOR RELATIONS: Patrik Stenberg,Head of Investor Relations

tel: 46 31-337 2104,mobile: 46 705-472 104,e-mail:patrik.stenberg@skf.com

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