Goal 13: Take urgent action to combat climate change and its impact

Climate change mitigation exposes Elkem to several challenges and opportunities. Climate
change response and the transitioning to more sustainable solutions will impact our business
and financial conditions as we move forward. Elkem has published an updated TCFD report
in March 2023, with improved scenario and financial impact assessment. The full report is available here.

Our impact: Greenhouse gas (GHG) emissions (CO₂) are inherent to the process of the
silicon, ferrosilicon, and silicones production. Therefore, the industrial process and the
whole value chain (scope 1, scope 2 and scope 3) are part of the climate change challenge.
We acknowledge that our climate work is a continuous process. Elkem understands that
the company must reduce the CO₂ emissions in line with the Paris agreement. Meanwhile,
we aim to contribute positively by providing materials and solutions that are beneficial to
combating climate change. Products needed in the low carbon society include the materials
that Elkem provide, so it is the company's responsibility to deliver these products with a low carbon footprint.

Read more about our climate change response here. 

Impacted by: Climate change affects Elkem in different ways, like technology development,
market adaption, reputation, and regulatory limitations. One example is regulatory
mechanisms like emission trading schemes. For example, changes in ETS regulations may
cause a reduction of allowances and higher prices. This will increase Elkem’s direct costs
which is a current risk in our operations. Therefore, reducing GHG emissions from
production is a strategic goal. In addition, Elkem is monitoring how physical, chronic, and
acute climate change effects could affect our locations and business.

SDG impact report 2021 and 2022 – SDG 13