Sofina SA
Climate Impact & Sustainability Data (2022, 2023, 2024-01 to 2024-06)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:746.41 tCO2e (scope 1 & 2 and travel)
Scope 1 Emissions:190.94 tCO2e
Scope 2 Emissions:12.56 tCO2e
Renewable Energy Share:94%
Carbon Intensity:10.01 tCO2e/FTE
ESG Focus Areas
- Sustainable Growth
- Risk Reduction and Value Creation
- For All Stakeholders
- A Process and a Path
- Recognition and Respect of Differences
- Inspiration for our Portfolio
Environmental Achievements
- 100% of CO2e emissions offset
- 94% of renewable energy used in operations
- Reduced carbon emissions linked to travels by favouring videoconferencing or soft mobility
Social Achievements
- Interactive diversity and inclusion workshop
- Well-being week
- 1,569 hours of training
- 899 hours of volunteering
- Sofina Covid Solidarity Fund fully deployed (EUR 20m)
Governance Achievements
- 100% attendance to the annual compliance training
- ESG Committee established in November 2021
- Implementation of a Code of Conduct for employees
Climate Goals & Targets
Environmental Challenges
- Excessive volatility driven by uncertainty
- War in Ukraine
- High inflation
- Energy crisis
- Severe market correction in the valuation of growth stocks
Mitigation Strategies
- Diversified model supported by a family shareholder
- Focus on value creation through the cycle
- Selectivity in investment activity
- Supporting and reinvesting in existing portfolio companies
- Seizing exit opportunities
- Allocating resources to help portfolio companies with contingency planning, sustainable development and capital efficiency
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN Principles for Responsible Investment
UN Sustainable Development Goals
- Goal 2
- Goal 3
- Goal 4
- Goal 10
- Goal 12
Investments in companies contributing to the SDGs through their products and services or their operations.
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:10.84 tCO2e per FTE
Renewable Energy Share:88.4%
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- 88.4% renewable energy
- Updated sustainable travel policy
- 10.84 tCO2e emissions per FTE
Social Achievements
- 47%/53% women/men
- 6% employee turnover
- 1,989 hours of training
- 38 coaching programmes
Governance Achievements
- 100% attendance to the annual compliance training
- Quarterly ESG committee meetings
- 62% independent Directors
- ESG integrated across the organisation
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024-01 to 2024-06
Environmental Metrics
ESG Focus Areas
- Climate change
- Diversity, equity, and inclusion
- Wellbeing and personal development of employees
- Governance
- Ethics
- Integrity
- Sustainability
Environmental Achievements
- Established roadmaps to reduce scope 1 and 2 emissions by 2030 in line with a 1.5°C pathway.
- Updated sustainable travel policy to keep per FTE business travel emissions at 2023 levels.
Social Achievements
- Promoted diversity, equity, and inclusion in the workplace.
- Concluded an impact assessment of the Sofina Covid Solidarity Fund, reaching 80 million people.
Governance Achievements
- Applied best governance practices.
- Maintained high standards of compliance, ethics, and integrity.
- Linked a target to increase the % invested capital covered by SBTi approved companies in Sofina Direct to 20% of our Long-term incentive plan (LTIP).
Climate Goals & Targets
Medium-term Goals:
- Increase the % invested capital covered by SBTi approved companies in Sofina Direct to 20% of our Long-term incentive plan (LTIP).
Short-term Goals:
- Reduce scope 1 and 2 emissions by 2030 in line with a 1.5°C pathway.
Environmental Challenges
- Climate change exacerbates other societal challenges.
- Business travel related emissions are the biggest operational footprint.
- Market fluctuations impact the portfolio.
- Uncertainty of future performance of investments due to current economic situation.
Mitigation Strategies
- Accelerating efforts to transition operations and portfolio in alignment with a 1.5°C trajectory.
- Engaging portfolio companies about climate risks and impacts via their commitment to the Science Based Targets initiative.
- Implementing a high degree of vigilance in the valuation process, including consistency checks between portfolio company estimates and comparable companies, validation of recent transactions, and monitoring of portfolio companies' financial situations.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Science Based Targets initiative (SBTi)