Climate Change Data

Environmental Metrics

ESG Focus Areas

• ESG investment approach
• Portfolio engagement
• Ethical conduct and regulatory compliance
• Diversity and inclusion
• Health and wellbeing
• Training and development
• Cyber security
• Environmental impact
• Social impact

Environmental Achievements

• Reduced business air travel GHG emissions compared to 2019

Social Achievements

• Maintained stable social performance indicators with a total headcount of 64 and a share of women in the workforce and management at 39% and 50% respectively.
• All relevant staff received anti-corruption training and there were no ethical breaches or whistleblowing cases.

Governance Achievements

• All relevant staff completed anti-corruption training; no ethical breaches or whistleblowing cases.

Climate Goals & Targets

Environmental Challenges

• Increased GHG emissions in 2021 compared to 2020 due to changes in portfolio composition and increased activity.
• Achieving better gender balance in the investment team.

Mitigation Strategies

• Championed online meetings and discouraged travel for meetings.
• Developed and implemented a Diversity, Equity and Inclusion Policy with a goal of no less than a third of each gender in all teams.

Supply Chain Management

Responsible Procurement

• Supplier expectations statement

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, SASB disclosures, Principles for Responsible Investment

Third-party Assurance: Deloitte AS

Environmental Metrics

ESG Focus Areas

• Climate and nature
• Health and wellbeing
• Diversity and inclusion
• Ethical business conduct and regulatory compliance
• Community impact

Environmental Achievements

• Aggregated direct greenhouse gas emissions (Scope 1, operational control) from our portfolio companies was reduced by 19% compared to 2022 on our funds’ equity share basis.
• Portfolio holds 1,510 MW of renewable energy capacity and generated 3.7 TWh of renewable energy, an increase of 45% from the previous year.
• Renewable energy generated is estimated to have contributed to 128 thousand tonnes of net avoided emissions in 2023

Social Achievements

• Proportion of women in the portfolio companies’ workforce improved, rising from 21% in 2022 to 27% in 2023.
• Offered work training for Ukrainian refugees and became the main sponsor for the Ukrainian boys U18 ice hockey team, Ravens.

Governance Achievements

• Completed 2023 reporting in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR).
• Placed a particular emphasis on the boards’ increased responsibility for sustainability matters, as well as integrity due diligence (IDD), as part of our comprehensive compliance program for our portfolio companies “We behave and comply”.

Climate Goals & Targets

Environmental Challenges

• Challenges faced by a small and focused organisation in maintaining gender balance among investment professionals.
• Increased cyber security threats across our portfolio in 2023, with 4 cyber incidents resulting in losses.
• Slow pace of adoption of sustainable fuels to meet net zero-aligned scenarios.

Mitigation Strategies

• Continuous action to improve gender diversity, including new hires.
• Proactive actions to mitigate cyber risks through technical, procedural, and educational measures.
• Working with portfolio companies to help them reduce emissions, limit adverse impacts, and transition their business.

Supply Chain Management

Responsible Procurement

• Supplier Expectations Statement

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SASB, SFDR

Third-party Assurance: Deloitte