River Group AS
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:11327.8 tonnes CO2e
Scope 1 Emissions:747.9 tonnes CO2e
Scope 2 Emissions:147.9 tonnes CO2e
Scope 3 Emissions:10430 tonnes CO2e
Renewable Energy Share:92%
Total Energy Consumption:2965266 kWh
Carbon Intensity:0.94 kgCO2/MSEK in 2023
ESG Focus Areas
- Climate Change
- Water Management
- Diversity & Inclusion
- Business Ethics
- Employee Health & Safety
- Employee Engagement
Environmental Achievements
- Reduced Scope 1 and 2 emission intensity by 48% compared to 2021 (0.94 kgCO2/MSEK in 2023)
- Increased renewable energy share to 92% for electricity and heating in 2023 (up from 69% in 2021)
- Reduced total Scope 1 emissions to 747.9 tonnes CO2e in 2023 (down from 1073 in 2021, despite company growth)
- Increased electric vehicles in fleet to 25 (12.5% of total fleet) by end of 2023
Social Achievements
- Implemented a non-tolerance policy for harassment and discrimination.
- Maintained a healthy employee turnover rate of 3.7%.
Governance Achievements
- Developed and implemented a set of policies including Code of Conduct, Workplace harassment policy, Supplier Code of Conduct, ESG policy, Anti-corruption policy, Economic Sanctions policy, GDPR Privacy protection policy, and Whistle-blower policy.
- Conducted training sessions with all companies in the group on these policies.
Climate Goals & Targets
Long-term Goals:
- Help customers reduce environmental impact and respond to physical impacts of climate change
- Improve quantification and disclosure of positive impact metrics
- ISO Certification for selected companies
- Produce Environmental Product Declarations (EPDs) in manufacturing companies
Medium-term Goals:
- 100% renewable electricity by 2027
- Increase proportion of EVs in vehicle fleet
- 4.6% reduction of CO2 intensity in Scope 3 year over year from 2021 baseline
- Decrease River Group’s direct CO2 impact (Scope 1+2) in relation to turnover
Short-term Goals:
- Reduce CO2 emissions
- Reduce sick leave and accidents
- Increase diversity
- Maintain strong business ethics
- Follow up ESG in supply chain
Environmental Challenges
- Underinvestment in Nordic water infrastructure leading to inefficiencies.
- Inefficient water pumps accounting for a significant portion of global electricity consumption.
- Climate change impacts on water infrastructure (flooding, droughts).
- Difficulty in reducing upstream Scope 3 emissions.
Mitigation Strategies
- Providing services to improve pump efficiency and reduce energy consumption for customers.
- Increasing the share of electric vehicles in the fleet.
- Switching to renewable electricity and replacing oil heating systems.
- Engaging with key suppliers to address climate and ESG matters.
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
- Heavy rainfall
- Droughts
Opportunities
- Service and sale of energy-efficient equipment
Reporting Standards
Frameworks Used: GHG Protocol
UN Sustainable Development Goals
- SDG 6
- SDG 9
- SDG 13
River Group's core business activities contribute to these SDGs through water management, infrastructure improvement, and climate change mitigation.