IFS AB and its subsidiaries, reported at the entity level of IGT Holding III AB
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:27,518 tCO2e (market-based Scope 2) / 29,759 tCO2e (location-based Scope 2)
Scope 1 Emissions:354 tCO2e
Scope 2 Emissions:93 tCO2e (market-based) / 2334 tCO2e (location-based)
Scope 3 Emissions:27,072 tCO2e
Renewable Energy Share:100%
ESG Focus Areas
- Excellence in Our Business
- Supporting Our Customers
- Having a Broader Impact
Environmental Achievements
- 100% renewable electricity across our sites in 2023
- Near-term 2030 Science Based Target approved by the Science Based Targets initiative
- Received EcoVadis Silver Medal for our Group performance
Social Achievements
- Female managers reached 31.91% (2022 YE: 28.26%)
- Launched our internal network of Sustainability Business Partners
- Collaborated with 123 educational institutions through the IFS Education Program (2022 YE:99)
- 17.20% employees (1010 employees) took CSR Volunteering Days
Governance Achievements
- Established partnership agreements for supporting customers with CSRD
- Released ESG Lobby
- Released IFS Cloud Emissions Tracker
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050 (implied)
Medium-term Goals:
- Reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2022 base year
- Reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and employee commuting 25% by 2030
- Female managers 30.5% by 2027
- IFS Education Program to reach 150 institutions by 2025
- CSR Day 15% use in 2023
Short-term Goals:
- Reduce water consumption by 10% by 2025 (implied)
- Carbon neutrality by 2025 (Scope 1, 2 and Business Travel emissions)
Environmental Challenges
- Increased cost of compliance due to additional emissions-reporting obligations
- Significant investments required to decarbonize its value chain
- Disruption to workforce and facilities caused by adverse changes in weather
Mitigation Strategies
- Active monitoring of global regulatory landscape
- Engagement with trusted partners
- Proactive preparations for the CSRD regulation
- Established decarbonization strategy
- Implemented 100% renewable electricity
- Updated responsible sourcing and procurement policies
- Equipped IFS workforce to work from home
- Facilities team actively considering sustainability criteria in selection of facilities
Supply Chain Management
Responsible Procurement
- Code of conduct
- Supplier sustainability requirements
- ESG criteria in supplier contracts
Climate-Related Risks & Opportunities
Physical Risks
- Disruption to workforce and facilities caused by adverse changes in weather
Transition Risks
- Increased cost of compliance due to additional emissions-reporting obligations
- Significant investments required to decarbonize its value chain
Opportunities
- Increased revenue from new IFS sustainability-focused solutions
- Talent management and reputational benefits from delivery of sustainability strategy and initiatives
Reporting Standards
Frameworks Used: GRI, SASB, TCFD, UNGC
Certifications: ISO 27001:2022
Third-party Assurance: EY (limited assurance over selected environmental and social key performance indicators)
Sustainable Products & Innovation
- IFS Cloud Emissions Tracker
- IFS Cloud Sustainability Management
Awards & Recognition
- EcoVadis Silver Medal