Climate Change Data

CORDET

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:152,759.2 tCO2e/year (2022)
Scope 1 Emissions:2,204.0 tCO2e/year (2022)
Scope 2 Emissions:10,882.3 tCO2e/year (2022)
Scope 3 Emissions:139,672.8 tCO2e/year (2022)
Renewable Energy Share:46.4% (2022)
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:217.4 tCO2e/EUR 1m (Scope 3, 2022)

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • FLABEG transitioned to renewable energy sources, deducting c. 2800 tCO2.
  • Instabox reduced emissions by approximately 10% in a pilot project with Google.
  • Instabox transitioned 30% of its home delivery vehicles in Sweden to electric in March 2023.

Social Achievements

  • Increased female staff representation from 17% to 33.3% (36% as of Feb-23).
  • Trust Payments' Kickstart program successfully transitioned 85% of participants to full-time employment.
  • Flabeg engaged in targeted recruitment campaigns to improve diversity and inclusion.

Governance Achievements

  • Implementation of ESG margin ratchets in new transactions.
  • Expanded ESG working group with regular meetings.
  • Professionalisation of annual ESG questionnaire for portfolio companies.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Explore the possibility of becoming a public TNFD supporter.
  • Explore further opportunities to improve and expand sustainability strategy and reporting.
Short-term Goals:
  • Implement carbon offsetting strategy.
  • Further develop ESG reporting process and improve portfolio company engagement.

Environmental Challenges

  • Significant disruption due to Russia's invasion of Ukraine.
  • Significant reduction in deal volume in 2022.
  • Limited respondent rate for Scope 3 emissions data (c. 44% in 2022).
Mitigation Strategies
  • Kept close contact with management teams in portfolio companies to understand potential impacts.
  • Diligent commitment to strategy resulted in less new transactions.
  • Partnered with Reporting21 to improve data collection and ESG performance.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • ESG due diligence reports from third-party consultants for sponsor-backed transactions.
  • Guidance on good business conduct, including anti-corruption and sustainability policies (Instabox).

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: UN PRI, UN SDGs, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Strong alignment with UN SDGs across its portfolio, though not a direct impact strategy.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Best Overall Fundraising: Debt (Private Equity Wire)
  • Third-place ranking in European Lower Mid-Market Lender of the Year Award (Private Debt Investor)
  • CFI award for Best Alternative Credit Investor (United Kingdom) (two years in a row)
  • Trust Payments awarded Best ESG Initiative at Pay 365 awards
  • Stockholm office awarded Most Sustainable Workplace 2022