Climate Change Data

Environmental Metrics

ESG Focus Areas

• Renewable energy
• Bioindustry
• Sustainable development
• Climate change mitigation
• Circular economy

Environmental Achievements

• Renewable energy produced: 2,247,772 MWh (equivalent to the annual consumption of 149,852 Finnish households)
• Avoided emissions by renewable energy funds in 2023: 632,970 tonnes of CO2e
• Avoided emissions by Taaleri SolarWind II: over 700,000 tonnes in 2023
• Reduced carbon dioxide emissions during construction of taxonomy-aligned properties by approximately one-fifth (200,000 kg less CO2e)

Social Achievements

• Launched redesigned personnel survey and DEI mapping survey, showing high employee satisfaction and a good start to the DEI journey.
• Renovated head office premises to better suit hybrid work model, including a large cafeteria space for meetings and events.
• Continued management training for supervisors, receiving positive feedback.
• Introduced a new digital tool to support human resource management, facilitating regular one-to-one discussions.
• Sustainability integrated into employee remuneration, with short-term goals including concrete sustainability targets.

Governance Achievements

• Complied with the Finnish Corporate Governance Code without exception.
• No confirmed cases of corruption or breaches of business ethics.
• All employees completed anti-money laundering and anti-terrorist financing training.
• Published Taaleri Group’s first Partner Code of Conduct.
• Excellent results in UNPRI assessment (five stars for policy, governance, strategy, infrastructure, and real estate investment; four stars for confidence-building measures and private equity investments).

Climate Goals & Targets

Environmental Challenges

• Challenging operating environment with accelerating inflation, interest rate hikes, and the war in Ukraine.
• Increased costs of project construction in renewable energy due to the war in Ukraine, higher interest rates, and inflation.
• Uncertainty among investors in renewable energy due to the war in Ukraine and volatility of electricity prices.
• Weakened economic situation affecting financial arrangements and timetables in bioindustry.
• Challenging real estate market with low transaction volumes and rising yield requirements.

Mitigation Strategies

• Determined promotion of strategy focusing on bioindustry and international growth.
• Successful fundraising for Taaleri SolarWind III Fund (EUR 430 million raised by year-end).
• Advancing projects in construction phase and preparing exits of Taaleri Wind II and III Funds.
• Mapping new investees for Taaleri Bioindustry I Fund and preparing for the next fund.
• Active development of new investment products and preparations to exit old funds in real estate.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Partner Code of Conduct
• Sustainability principles attached to cooperation agreements.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather phenomena
• Temperature fluctuations
• Changes in soil moisture balance

Transition Risks

• Tightening regulation and compliance

Opportunities

• Development of energy-efficient products and services
• Investments in renewable energy and bioindustry

Reporting Standards

Frameworks Used: GRI Standards, UNPRI, NZAM, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7: Affordable and clean energy
• Goal 9: Industry, innovation and infrastructure
• Goal 13: Climate action

Investments in renewable energy, bioindustry, and sustainable construction contribute to these goals.

Sustainable Products & Innovation

• Wind and solar power
• Bio-based products
• Energy-efficient rental homes
• Cellulose-based materials
• Recycled plastics
• Biodegradable packaging materials

Awards & Recognition

• Not disclosed