Green Fund
Seco’s green investment fund was launched in January 2012. The fund was created to generate the financial resources required to fulfil Seco’s Sustainability targets. The allocated funds are used for environmental investments, focusing primarily on measures and projects that reduce climate and negative environmental impact. This year, 10 MSEK was dedicated to funding projects which can contribute to a more sustainable Seco and reach our long-term goals; specifically, reducing our climate impact by more than half and reach 90% circularity by 2030. Throughout the years, the Green Fund has funded a diversity of projects which have contributed to decreasing the environmental impact of Seco’s operations.Seco’s green investment fund was launched in January 2012. The fund was created to generate the financial resources required to fulfil Seco’s Sustainability targets. The allocated funds are used for environmental investments, focusing primarily on measures and projects that reduce climate and negative environmental impact.
This year, 10 MSEK was dedicated to funding projects which can contribute to a more sustainable Seco and reach our long-term goals; specifically, reducing our climate impact by more than half and reach 90% circularity by 2030.
Throughout the years, the Green Fund has funded a diversity of projects which have contributed to decreasing the environmental impact of Seco’s operations. Some examples of these projects include:
Various Solar projects throughout the world which aim to decrease our climate impact through decreasing reliance on the 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 installation in the UK and India.
This is a green initiative and good support for increasing renewable energy production
The guaranteed solar power generation is 1446 units per day
Saving of 1.7 MINR per year (0.21 MSEK per year)
Reduction in CO2 emission by 540 tons per year which is equivalent to 250 trips per year from Europe to India.
Capacity 430 KWp
Another way for Seco to work to reduce our climate impact is through taking advantage of the waste heat from our production processes. The Green Fund has supported such projects which increase our heat recovery systems to reduce climate impact and increase efficiency.
Expand Fagersta’s heat recovery system [through air compressors] to supply heating for site. The site will no longer need to purchase district heating. Set to be completed by the end of 2022
Estimated Saving of 0,521MSEK/year
Reduction in CO2 emission by reducing site’s footprint by 28% CO2e
Another aspect of sustainability is that of increasing Seco’s Waste Circularity and decreasing the environmental impact of sending waste to landfill. The Green Fund has granted funding to projects such as composters at our UK site and funding recycling infrastructure within our sites to help sort waste for recycling.
As part of a larger project of changing waste treatment service provider to one who guaranteed recycling and traceability to Seco, an application was made for small office receptacles which have custom signage indicating their purpose (industrial plastics, paper, cardboard, etc.), to support the partnership with the new service provider as they provided only the larger equipment.
Estimated Saving of 4,000 USD per year
Reduction of an estimated 1000 kg less waste to landfill and an estimated increase of 1400 kg of waste to recycling per year
And many more projects!
As the Green Fund continues to expand and fund more projects, please be on the lookout for new Sustainability Projects rising at Seco Tools!
Find more Sustainability news here
