Pune, India – Seco Tools launched the Green Investment Fund in 2012 to ensure their contribution to reducing climate change and negative environmental impact. Since then, the Green Fund has aided in the investment of a wide range of sustainable projects that have reduced the environmental impact of the company’s operations. In 2022, 10 MSEK has been dedicated to funding long-term company goals, specifically reducing the company’s climate impact by more than 50 percent and achieving 90 percent circularity by 2030. “The Green Fund is an important asset for Seco to invest in sustainable projects and has been ongoing for over 10 years now”, says Shaelyn Meyers, Sustainability Specialist, Seco Tools. “It enables sites to drive green investment, which they previously would not be able to prioritize because of traditional investment factors.”
Solar installations around the globe
Solar projects aim to reduce climate impact by reducing reliance on the electrical grid and increasing renewable energy production. The Green Fund has supported solar projects ranging from an off-grid solar installation in South Africa to solar installations in the United Kingdom and India sales units.
Heat recovery and reusability
Using waste heat from their production processes is another way for the company to reduce their climate impact. The Green Fund has supported sustainability projects that improve heat recovery systems and thus promote circularity. The heat recovery system at the head office in Fagersta will be expanded through air compressors to supply heating to the site, and district heating will no longer be required. The site’s footprint, as measured by CO2 emissions, is expected to be reduced by 28 percent.
Waste circularity initiatives
The company is also working to increase waste circularity and reduce the environmental impact of sending waste to landfills. Other projects funded by the Green Fund include composters at their UK site and funding for a sustainable infrastructure across all sites to help sort waste for recycling.
Image Source: Seco Tools