Bearing equipment and services multinational SKF has allocated €300-million to investments in accordance with SKF’s Green Finance Framework.

This is an important part of SKF’s focus on reducing its own emissions, as well as increasing investments in research and development, production, testing and remanufacturing capacity for products used in industries such as renewable energy generation, electric vehicles and railway applications.

The funding comes from the group’s ten-year Green Bond.

“These investments are essential in contributing to the transformation of SKF and the industries that we support. It is fantastic to be able to see the impact and breadth of projects which this funding is supporting,” says SKF senior VP and CFO Niclas Rosenlew.

The company's Green Finance Framework has been independently evaluated by the Center for International Climate Research, SKF notes.