Climate Change Data

Nordic Capital Limited

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:258,424 tCO2e (Scope 1-2)
Carbon Intensity:17.5 tCO2e/sales MEUR

ESG Focus Areas

  • Climate change
  • Social inequalities
  • Prevention of corruption and unethical business practices
  • Diversity & Inclusion
  • Human Rights

Environmental Achievements

  • 17.5 tCO2e carbon intensity (tCO2e/sales MEUR) in portfolio
  • 95% of portfolio companies have a sustainability strategy in place by the end of 2023
  • 8 portfolio companies have made commitments to the SBTi, encompassing near-term and net-zero targets

Social Achievements

  • 24 promotions, including 4 new partners across fund and advisory teams
  • Established a dedicated D&I Taskforce to maintain a diverse and inclusive workplace
  • 95% of portfolio companies have a companywide annual performance assessment in place
  • 27% of female executive management members in portfolio companies
  • 25% of female external board members in portfolio companies

Governance Achievements

  • Expanded its Corporate Compliance Programme, with a focus on ethical AI and human rights
  • Developed training, ethical guidelines, and policy templates to ensure responsible AI adoption
  • Introduced a Human Rights Toolkit to address human rights protection and regulatory compliance
  • 100% of portfolio companies have a whistleblowing policy and/or system in place
  • 95% of portfolio companies have an anti-corruption policy in place
  • 95% of portfolio companies have a data protection policy in place
  • 98% of portfolio companies have a code of conduct in place

Climate Goals & Targets

Short-term Goals:
  • Commit to near-term targets at both Nordic Capital and portfolio level, aligning with the latest climate science and the Paris Agreement goals (to be validated in 2024)

Environmental Challenges

  • Challenging macroeconomic landscape and continuing geopolitical turmoil
  • Global economic slowdown in 2023
Mitigation Strategies
  • Successfully navigated exits and deals with a balanced approach
  • Adopting a subsector mindset
  • Strengthening its position as experts in their field
  • Building and empowering the team to strengthen its market position and drive its success

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN PRI Reporting Framework, Science Based Targets initiative (SBTi), Greenhouse Gas Protocol, EU Sustainable Finance Disclosure Regulation (SFDR)

UN Sustainable Development Goals

  • Goal 5: Gender equality
  • Goal 8: Decent work and economic growth
  • Goal 12: Responsible consumption and production
  • Goal 13: Climate action
  • Goal 16: Peace, justice and strong institutions

Portfolio KPIs focus on organic employment growth, reducing climate impact, promoting D&I, implementing sustainable business practices, and ensuring high ethical business standards

Awards & Recognition

  • Top 10% of PE firms worldwide for ESG performance (UN PRI)