Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Developed a model for calculating CO2 emissions for wind farm infrastructure, showing a CO2 payback time of 155 days for infrastructure.
• 66% of all personnel company cars in 2022 were eco cars (electric or hybrid cars), up from 40% the previous year.
• In large-scale projects, new measures to decrease environmental impact were actively sought by, for example, optimizing processes regarding the transportation of materials and using recycled masses.

Social Achievements

• Launched a safety campaign called 4T in Finland to strengthen safety culture.
• Developed a mobile app for easy safety observation reporting in Finland.
• Continued and further developed a trainee program in Sweden, employing 8 students as trainees in 2022.
• Launched equity-based incentive programs for personnel and management in June 2022.

Governance Achievements

• Initiated a project to establish an internal whistleblowing channel.

Climate Goals & Targets

Environmental Challenges

• Cost inflation, material shortage, energy shortage, and increasing interest rates.
• Challenging operating environment in Finland during the first half of the year.
• Availability of employees in the Kiruna region and other sparsely populated areas.

Mitigation Strategies

• Contract terms and conditions in Sweden allowed management of increased costs.
• Cutting fixed costs and reorganizing operations in Finland.
• Constant dialogue, manager support, safe working environment, and attractive remuneration to retain employees.
• Pre-emptive safety measures and safety observations.

Supply Chain Management

Responsible Procurement

• Training subcontractors, suppliers, and personnel
• Preference given to recycled materials and materials that consume less energy in production in Sweden
• Discussions with customers to select less environmentally damaging materials

Climate-Related Risks & Opportunities

Opportunities

• Increased demand for services in wind power and power network construction due to improving energy self-sufficiency.

Environmental Metrics

ESG Focus Areas

• Green transition
• Safety
• Sustainability
• Employee well-being
• Responsible business conduct

Environmental Achievements

• Updated car policy to increase electric/hybrid vehicles (76% in 2023)
• Implemented initiatives to improve material efficiency (e.g., Karahka project)
• Construction of a 102.5 MWp solar farm in Utajärvi, Finland
• Construction of Aurora Line, a 400 kV transmission line between Sweden and Finland (NYAB's portion: ~90km)

Social Achievements

• Employee engagement survey with eNPS of 61 in Sweden
• Zero Safety LTIF3 incidents in Finland in 2023 (improvement from 14.6 in 2022)
• LTIF4 in Sweden was 2.57 and 1.91 for the group.
• Implemented “Kraftsamla” framework to improve customer collaboration
• Initiated a double materiality assessment

Governance Achievements

• Strengthened Board of Directors with new members
• Developed corporate governance by adopting and improving internal policies
• Transitioned to IFRS reporting
• Established a whistle-blowing system

Climate Goals & Targets

Environmental Challenges

• Macroeconomic turmoil (inflation, interest rate uncertainties) impacting markets and delaying contracts
• Weakening of the Swedish krona negatively impacting euro-denominated financials
• Early and extreme winter conditions postponing revenue recognition

Mitigation Strategies

• Remained committed to not growing with increased risk; avoided M&A due to market uncertainties
• Shifted focus in energy construction to power network projects less impacted by macroeconomic fluctuations
• Continuous monitoring of projects and cost management

Supply Chain Management

Responsible Procurement

• Code of Conduct (new Group-wide code being drafted)
• Prioritization of materials with longer service life and recycled materials

Climate-Related Risks & Opportunities

Opportunities

• Growth in renewable energy projects (wind and solar)

Reporting Standards

Frameworks Used: CSRD, ESRS, UN Global Compact

Certifications: ISO 9001 (Finland), ISO 14001 (Finland), ISO 45001 (Finland), RALA (Finland), BKMA (Sweden)

UN Sustainable Development Goals

• SDG 6
• SDG 7
• SDG 8
• SDG 9
• SDG 11

NYAB's activities contribute to these goals through sustainable infrastructure, renewable energy, and industrial construction projects