Climate Change Data

Nortek AS

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Human rights
  • Decent working conditions
  • Environmental stewardship
  • Social responsibility
  • Climate change

Environmental Achievements

  • Achieved ISO 14001 certification in 2023
  • Implemented ISO 14001-certified Environmental Management System
  • 95% of materials in a Nortek instrument is recyclable
  • Set science-based climate targets aligned with the Paris Agreement's 1.5-degree goal

Social Achievements

  • No violations of human rights or decent working conditions identified during 2023
  • All top-tier primary suppliers and business partners signed the Supplier and Business Partner Code of Conduct

Governance Achievements

  • Established templates and framework for the OECD due-diligence process
  • Established framework for Business Partner audits
  • Established framework for global trade compliance

Climate Goals & Targets

Long-term Goals:
  • Reduce own emissions by 1/3 by 2030
  • Deliver carbon neutral products to customers
Medium-term Goals:
  • Continue the OECD due-diligence process and the supplier/business partner risk assessment for all suppliers and partners above the 1 mill. NOK threshold (2024 and beyond)
Short-term Goals:
  • Conduct due diligence of top business partners and suppliers with revenues > 1 million NOK (2024)

Environmental Challenges

  • Risks related to geographical location of suppliers (medium and high-risk countries)
  • Risks related to sourced parts/materials and industry (electronics, machined parts, plastics, chemicals, batteries)
  • Limited influence and information access to fully assess raw material extraction risks
  • Increased sanctions and embargoes impacting global trade compliance
Mitigation Strategies
  • ESG risk assessment process and audits included in supplier qualification
  • Supplier and Business Partner Code of Conduct implemented
  • Regular meetings with key suppliers to mitigate supply chain risks
  • Focus on trade compliance to support global business growth
  • Annual awareness campaigns and training related to ethical guidelines

Supply Chain Management

Supplier Audits: ESG audits are part of Nortek’s annual audit program

Responsible Procurement
  • Supplier and Business Partner Code of Conduct
  • ESG risk assessment
  • Regular meetings with key suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: OECD Due Diligence Guidance for Responsible Business Conduct, GRI Standards, Greenhouse Gas Protocol, UN Guiding Principles on Business and Human Rights

Certifications: ISO 9001:2015, ISO 14001:2015

Sustainable Products & Innovation

  • Durable, repairable instruments with long life expectancy