Climate Change Data

Eolus Vind AB (publ)

Climate Impact & Sustainability Data (2019-2020, 2022)

Reporting Period: 2019-2020

Environmental Metrics

ESG Focus Areas

  • Economic Sustainability
  • Environmental Sustainability
  • Social Sustainability

Social Achievements

  • Expanded HR position to 80% to improve recruitment process and support managers.

Governance Achievements

  • Established a new position with responsibility for sustainability (planned for 2021).

Climate Goals & Targets

Short-term Goals:
  • Conduct annual employee satisfaction surveys starting in 2021 and establish methods for improvement.

Environmental Challenges

  • COVID-19 pandemic impacted the ability to map the company’s environmental impacts as planned.
Mitigation Strategies
  • Postponed mapping of environmental impacts until after the pandemic subsides.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI (guidance only, not standards)

UN Sustainable Development Goals

  • 7 (Affordable and clean energy)
  • 13 (Climate action)
  • 8 (Decent work and economic growth)

Eolus's business concept of developing, establishing, and managing renewable energy and energy storage facilities contributes to these goals.

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:126.4 tCO2e/year (Swedish operations only)
Scope 1 Emissions:19.0 tCO2e/year
Scope 2 Emissions:10.4 tCO2e/year
Scope 3 Emissions:97.0 tCO2e/year

ESG Focus Areas

  • Environment
  • Social responsibility
  • Corporate governance

Environmental Achievements

  • Reduced GHG emissions from business travel through increased use of rail transport and remote meetings.
  • Initiated pilot projects to measure GHG emissions across the supply chain.

Social Achievements

  • Launched a new incident management system for accidents and near misses.
  • Developed a human rights policy and standards for the protection of indigenous peoples' rights.
  • Improved ESG risk ratings from Sustainalytics.

Governance Achievements

  • Joined the UN Global Compact.
  • Revised the company’s shared values and core values.
  • Expanded Group Management.

Climate Goals & Targets

Long-term Goals:
  • Formulate a biodiversity strategy and set measurable targets.
Medium-term Goals:
  • Measure GHG emissions in all markets and set emissions reduction targets.
Short-term Goals:
  • Reduce GHG emissions from business travel.

Environmental Challenges

  • Delays and cost increases in the Øyfjellet project due to the pandemic and extreme weather.
  • Lack of permits for new wind power projects in Sweden.
  • Risk of human rights abuses in the supply chain, particularly concerning solar panel manufacturing.
Mitigation Strategies
  • Secured financing of SEK 1,500 M for planned expansion.
  • Working with the Incentives Commission to facilitate wind power expansion in Sweden.
  • Specifying sustainability requirements for suppliers and developing a Code of Conduct for suppliers and business partners.

Supply Chain Management

Responsible Procurement
  • Specifying environmental, climate, social responsibility, and business ethics requirements for suppliers.
  • Requiring suppliers to sign the internal Code of Conduct.
  • Developing a Code of Conduct for suppliers and business partners.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme winter weather
Transition Risks
  • Changes in laws and regulations regarding renewable energy.
Opportunities
  • Growth in renewable energy due to climate change and energy crisis.

Reporting Standards

Frameworks Used: UN Global Compact

Third-party Assurance: PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Goal 7
  • Goal 13
  • Goal 14
  • Goal 15

Eolus’s core business contributes to achieving these goals through the development and operation of renewable energy facilities.

Awards & Recognition

  • Nominated for the Allbright prize.