NHOA S.A.
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:39.5 tCO2e (Scope 1) + 173.6 tCO2e (Scope 2) in 2022
Scope 1 Emissions:39.5 tCO2e/year (2022)
Scope 2 Emissions:173.6 tCO2e/year (2022)
Renewable Energy Share:40% (electricity for direct consumption)
Water Consumption:5,155 m3/year (2022)
Waste Generated:33 tons non-hazardous + 0.1 tons hazardous waste (2022)
ESG Focus Areas
- Climate Change
- Diversity & Inclusion
- Governance
- Health & Safety
- Sustainable Innovation
- Circular Product Lifecycle
- Cybersecurity
- Supply Chain Resilience
- Stakeholder Engagement
- Product Safety
- Value Chain Energy Management
- Business Ethics
Environmental Achievements
- Achieved 1.4 GWh of energy storage projects under construction in four continents.
- Offset 595,324 tons of CO2 equivalent for NHOA Energy and 99,126 tons for Atlante through Eden Reforestation Projects.
- Implemented a plastic-free policy in all offices.
- Global Engineering Center is based in a BREEAM certified building.
Social Achievements
- Implemented FamilyWorking Policy, promoting work-life balance.
- 33% women in the workforce, aiming for 40% by 2025.
- Launched a scholarship program for female STEM students.
- Donated €10,000 to Fondazione Theodora and €3,650 during Christmas.
- Donated €100,000 to Emergency for Ukraine.
- Organized a blood donation day in partnership with AVIS.
Governance Achievements
- Established a Sustainability Committee.
- Achieved Platinum medal from GAIA Rating.
- Implemented a comprehensive reporting and prevention system to prevent corruption.
- Established a whistleblowing policy.
- Implemented a cybersecurity awareness program.
Climate Goals & Targets
Medium-term Goals:
- Climate Positive Scope 3 by 2030 (ambition)
Short-term Goals:
- Climate Positive Scope 1 by 2024
- Climate Positive Scope 2 by 2025
- 90% green energy consumed in premises by 2025
- 2.5 GWh of projects online & under construction by 2025
- 5,000 PoC (fast and ultra-fast) for electric vehicles installed by 2025
- 50% recycled material by 2025
- Second-Life Batteries Project fully tested and operating by 2025
- 10x increase in investments in HSQ by 2025
- 10x increase in number of women engineers by 2025
- 4 ESG Ratings by 2025
- 3 international sustainability associations partnerships by 2025
Environmental Challenges
- Temporary slowdown in e-Mobility business unit.
- Supply chain disruptions (implied).
- Gender gap in engineering and technology sectors.
- Cybersecurity risks.
Mitigation Strategies
- Secured €60 million in purchase orders for e-Mobility in 2023.
- Implemented a supplier engagement plan using the Ecovadis platform.
- Launched a scholarship program for female STEM students.
- Implemented various cybersecurity measures, including penetration testing and partnerships with cybersecurity firms.
Supply Chain Management
Supplier Audits: Analysis of top 10-15 suppliers (90% of purchases) using Ecovadis platform.
Responsible Procurement
- Code of Ethics
- Supplier sustainability requirements (ISO 14001 and ISO 45001 certifications)
Climate-Related Risks & Opportunities
Opportunities
- Expansion of renewable energy storage and EV charging networks.
Reporting Standards
Frameworks Used: GRI, UNGC
Certifications: ISO 9001, ISO 14001, ISO 45001
UN Sustainable Development Goals
- SDG 7
- SDG 11
- SDG 3
- SDG 5
- SDG 8
- SDG 9
- SDG 12
- SDG 13
- SDG 17
Initiatives aligned with SDGs 7 (affordable and clean energy), 11 (sustainable cities and communities), 3 (good health and well-being), 5 (gender equality), 8 (decent work and economic growth), 9 (industry, innovation, and infrastructure), 12 (responsible consumption and production), 13 (climate action), and 17 (partnerships for the goals).
Sustainable Products & Innovation
- Energy storage systems
- EV charging solutions
Awards & Recognition
- Platinum medal from GAIA Rating
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Climate change
- Diversity
- Governance
Environmental Achievements
- Reduced carbon emissions by channeling efforts into three main directions: installation of storage systems to replace polluting technologies with renewables, development of efficient charging infrastructures for electric mobility, and reduction of direct emissions from business activities.
Social Achievements
- Launched FamilyWorking project, enabling sustainable remote work and minimizing greenhouse gas emissions from employee commutes.
- Intensified investment in Health, Safety, and Quality (HSEQ) to support Masterplan10x and minimize execution risk.
Governance Achievements
- Established anti-corruption training for all employees (implied).
- Improved financial reporting processes and internal control and audit procedures following the 2022 audit of F2MeS.
Climate Goals & Targets
Long-term Goals:
- Achieve consolidated sales of between €3 billion and €4.4 billion by 2030, and a consolidated EBITDA margin of over 20%.
Medium-term Goals:
- Achieve revenues of €700 million by 2025, with a mid double digit percentage EBITDA margin around 15%.
- Reach Atlante's target of 22,000 points of charge by 2030.
Short-term Goals:
- Install annually, by 2025, 10 times the entire energy storage installed base realized between 2015 and 2021.
- Expand production by 10 times, increasing EV charging devices production from 1,500 to 15,000 per week by 2025.
- Multiply by 10 the Life-Time-Value (LTV) of e-Mobility customers by 2025.
- Multiply by 10 the number of women engineers employed by 2025.
- Carry out more than 10 times the investments in Health, Safety and Quality by 2025.
Environmental Challenges
- Fast-changing macroeconomic and competitive environment.
- Risks related to changes in regulatory environment.
- Risks related to the dependence on key partners (TCC and Stellantis).
- Risks associated with key suppliers.
- Risks related to the implementation of the Atlante business line.
- Risks of Technology Disruption (R&D).
- Risks related to the Origination and Development of Projects/Products and Sales.
- Risks related to human resources.
- Risks related to site activities on Energy Storage.
- Risks related to information systems and cybersecurity.
- Safety risks related to products development.
- Risks related to industrial operations.
- Risks related to fluctuations in the prices of certain raw materials and components.
- Tender processes and revenue recognition rules during the completion of long projects.
- The Atlante Project is partially financed.
- Risks associated with foreign exchange rate.
- Liquidity risk.
- Credit and counterparty risks.
- Risks related to local tax regulation and transfer pricing.
- Risks related to weaknesses in NHOA’s financial reporting and internal controls.
Mitigation Strategies
- Became part of the TCC Group for balance sheet support and geographic reach.
- Dedicated resources assigned to monitor and comply with regulations.
- Developed alternative sourcing strategies (implied).
- Diversifying supplier portfolio.
- Appropriate structure to deal with site acquisition and permits.
- Continuous technological adaptation to new market needs.
- Rigorous operational processes around project execution.
- Action plan to resolve issues and improve workflows.
- Implementation of ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards.
- Strengthening of the workforce in critical operational areas.
- Implementation of a revised set of processes and procedures to improve financial reporting and internal controls.
- Price adjustment formula to partially reduce exposure to battery cost fluctuations.
- Commercial and contractual arrangements to manage foreign currency risk.
Supply Chain Management
Responsible Procurement
- Supplier selection based on health, safety, and environmental criteria.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRS
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Third-party Assurance: Deloitte & Associés and RBB BUSINESS ADVISORS
Sustainable Products & Innovation
- HyESS®
- easyWallbox
- eProWallbox
- ePublic