Net sales in 2020 totaled SEK 56,321 (49,936) million. All of the indicators are reported with two comparative years. Boliden also reports revenues and operating profit per Business Unit, and tax payments per country in its Annual and Sustainability Report.

Boliden’s goal is to be a sustainable first link in the metal value chain – and to achieve this by investing in modern technology and developing safe and energy efficient low-carbon processes.

Climate change risks and opportunities are both physical and financial. Assessments performed 2020 on physical climate risks show that Boliden´s sites do not face severe physical risks due to climate change. Metals production is a energy-intensive process that generates both direct and indirect carbon dioxide emissions. Boliden’s direct carbon dioxide emissions primarily arise from metallurgical processes, transportation, and heating requirements. Indirect carbon dioxide emissions derive from purchased electricity. To address the climate change issue, Boliden has several development projects ongoing. For more information see the Climate chapter in this Sustainability index.

All of Boliden’s smelter operations (Odda, Bergsöe, ­Rönnskär, Kokkola and Harjavalta) have been fully exposed to the ­European Emission Trading Scheme (ETS) since 2013. The ETS is a strategic challenge for Boliden, not only in calculating the costs that may be entailed in future purchases of emission allowances, but also working on opportunities to reduce emissions, given the production levels and available technology. The Boliden Group has a comprehensive governance structure to manage climate-related risks and opportunities, and in 2019, set the Group-wide target to reduce its CO₂ intensity by 40% by 2030. An opportunity going forward is Boliden´s production of low-carbon copper, which provides the customer with a carbon footprint that includes GHG emissions from Scope 1, Scope 2 and Scope 3 from upstream activities – from cradle-to-Boliden gate. This is presented in case 1.

CASE STORY:

Low-carbon Copper

LOW-CARBON COPPER will play an important role in the sustainable transition to achieve the goal of the net zero CO 2 emissions by 2050 set by the EU. The greater use of renewable energy and the electrification of society needed to combat climate change both require more copper. Copper mining and smelting activities are known to generate significant amounts of greenhouse gas emissions. As a leading sustainability metals and mining company, Boliden is well positioned to supply a copper with a low-carbon footprint. Boliden’s favorable integration of own mines and smelters, and being one of the world’s largest recyclers of metal from electronic material, enables the company to produce a low-carbon copper cathode and a copper ­cathode originating from 100% recycled material.

 

Boliden’s low-carbon Copper offering

Boliden’s copper has less than half of the global average presented by the ­International Copper Association (ICA)¹⁾.

Boliden Low-carbon Copper <1.5 kg CO 2eq/kg Cu:
Boliden’s low carbon copper is produced from copper mined in our own mines in the north of Sweden and Finland, with a low-carbon electricity grid mix.

Boliden Recycled Copper <1.5 kg CO 2eq/kg Cu:
The primary raw material for Boliden’s recycled copper is used electronics. By efficiently recovering all the metals that have been circulating in society, the need for new mines can be minimized.

All materials and emissions included

Boliden’s carbon footprint has been assured by Intertek, in accordance to the Greenhouse Gas Protocol – Product Life Cycle Accounting and Reporting Standard and reviewed in accordance with the principles in ISO 14064-3. Boliden’s carbon footprint has a comprehensive scope and uses a conservative approach when calculating the footprint. This includes the full supply chain of raw materials, transportation and auxiliary bulk goods and chemicals, such as explosives, from cradle-to-Boliden gate, and excludes credits from energy and by-products.

1) ICA Copper Environmental Profile, 2018

Figure 9. Example of Copper Carbon footprint from Mining to Refining