Climate Change Data

European Energy A/S

Climate Impact & Sustainability Data (2020, 2021, 2024-01 to 2024-06)

Reporting Period: 2020

Environmental Metrics

ESG Focus Areas

  • Climate Action
  • Local Action
  • Corporate Action

Environmental Achievements

  • Grid-connected 250.6 MW of renewable energy in 2020, reaching the goal set at the end of 2019.
  • Surrendered guarantees of origin from its Danish solar farm Naessumvej equivalent to 200,000 kWh, offsetting electricity consumed in operating office spaces.

Social Achievements

  • Provided 10,000 masks to the Municipality of Troia and workers of the Troia PV Plant during the first European lockdown.
  • Established a Covid-19 assistance package of DKK 279,000 for communities near the Coremas solar complex in Brazil.

Governance Achievements

  • Updated code of conduct outlining guiding principles for good business practices.
  • More than 50% of full-time employees completed an online training course on anti-corruption and anti-bribery practices.

Climate Goals & Targets

Medium-term Goals:
  • Install an additional 1 GW of renewable energy every year starting in 2022.
Short-term Goals:
  • Grid connect 750MW of renewable energy in 2021.
  • Develop an internal system for collecting and reporting data on scope 1 and 2 GHG emissions in 2021.
  • Review and update environmental policy in 2021.
  • Establish an environmental management system for waste reduction in 2021.

Environmental Challenges

  • Construction and operation activities contribute to GHG emissions.
  • Need to achieve a more balanced gender ratio, particularly in senior positions.
Mitigation Strategies
  • Goal for 2021 to develop an internal system for collecting and reporting data on scope 1 and 2 GHG emissions.
  • Goal for 2021 to offer hiring managers a training course to minimize bias in decision making and set gender targets for 2021 and 2022.

Supply Chain Management

Responsible Procurement
  • Implementation of a self-assessment questionnaire for suppliers in 2021 covering risk areas such as anti-corruption, human rights, and environmental practices.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact

UN Sustainable Development Goals

  • 7
  • 8
  • 9
  • 12
  • 13
  • 15
  • 17

EE's core business of developing and constructing renewable energy contributes to SDG 7 (Affordable and Clean Energy). Investments in high unemployment areas contribute to SDG 8 (Decent Work and Economic Growth). Investments in energy infrastructure contribute to SDG 9 (Industry, Innovation and Infrastructure). Sustainable practices contribute to SDG 12 (Responsible Consumption and Production). Expanding renewable energy contributes to SDG 13 (Climate Action). Minimizing environmental disturbance during construction contributes to SDG 15 (Life on Land). Partnerships contribute to SDG 17 (Partnerships for the Goals).

Reporting Period: 2021

Environmental Metrics

Scope 1 Emissions:1 tonne of CO2e (2021)
Scope 2 Emissions:0 tonnes of CO2e (2021, market-based)
Renewable Energy Share:100% (electricity and heating consumption)

ESG Focus Areas

  • Climate and Environment
  • Health and Safety
  • Business Accountability
  • Social Engagement

Environmental Achievements

  • Avoided more than 142 thousand tonnes of CO2e emissions in 2021.
  • Displaced 3.2 million tonnes of CO2e since 2004.
  • Transformed 660 hectares of farmland into solar PV projects, reducing pesticide and fertilizer use.
  • Implemented biodiversity initiatives in several Danish projects, including planting 245,000 trees.

Social Achievements

  • Created 768 full-time job equivalents directly and indirectly.
  • Financed projects with local communities in four countries.
  • Offered unconscious bias training to hiring managers and invested in technology to identify biased language in job ads.
  • 36% of employees participated in professional development courses, and 45% participated in industry events.

Governance Achievements

  • 90% of employees completed anti-corruption and anti-bribery training.
  • Implemented anti-corruption clauses in major supplier contracts.
  • Developed and implemented a Data Ethics Policy.

Climate Goals & Targets

Long-term Goals:
  • Expand studies measuring the direct impact of projects on biodiversity (2024)
Medium-term Goals:
  • Develop a Biodiversity Management Policy (2023)
  • Develop ERP (Emergency Response Plan) standards (2023)
  • Develop European Energy standards for non-conformity reporting (2023)
  • Develop a Community Engagement Policy (2024)
  • Ensure all projects have a Stakeholder Engagement Plan and local Grievance Mechanism (2024)
  • Increase women’s representation in leadership positions (2022, 2023)
  • Publish more transparent tax information (continuous)
Short-term Goals:
  • Develop a Corporate Manual (2022)
  • Extend H&S training to all employees (2023)
  • Reduce TRIR and LTIR by 10% (2022)
  • Report on Scope 3 GHG emissions (2023)
  • Develop a Waste Management Policy (2022)
  • Standardize environmental management procedures and reporting (2023)
  • Review Anti-corruption and Anti-bribery Policy (2022)
  • Continue screening for biased language in job postings (2022)
  • Achieve a minimum 75% employee participation rate in the yearly survey (2022)
  • Conduct information sessions on the whistleblower mechanism (2022)
  • Screen all critical suppliers on sustainability criteria (2023)

Environmental Challenges

  • Supply chain disruptions due to equipment manufacturer capacity constraints and input costs, leading to project delays.
  • Major disruptions in the shipping market challenged logistical planning and cost targets.
  • Challenges in engaging all stakeholders in the waste management process.
Mitigation Strategies
  • Accepted slight delays to project completion to secure project economics.
  • Developed two supplier questionnaires to strengthen supplier screening processes.
  • Partnerships with contractors specialized in Waste from Electrical and Electronic Equipment (WEEE).
  • Working towards standardizing procedures and reporting processes across all markets.

Supply Chain Management

Supplier Audits: More than 20% of critical suppliers screened in 2021; aiming for 100% by 2023.

Responsible Procurement
  • Anti-corruption clauses in major supplier contracts.
  • Two supplier questionnaires covering compliance, governance, human rights, environment, and procurement.
  • Partnerships with third-party quality assurance institutes.

Climate-Related Risks & Opportunities

Opportunities
  • Development of e-methanol to power vessels; development of e-kerosene for aviation.

Reporting Standards

Frameworks Used: GRI, UN Global Compact

UN Sustainable Development Goals

  • Goal 7
  • Goal 8
  • Goal 9
  • Goal 12
  • Goal 13
  • Goal 15
  • Goal 17

See page 40-41 of the report for details.

Sustainable Products & Innovation

  • E-methanol
  • E-kerosene

Reporting Period: 2024-01 to 2024-06

Environmental Metrics

Total Carbon Emissions:237,252 tCO2e (avoided)
Renewable Energy Share:100%
Total Energy Consumption:1,020 GWh

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Avoided 237,252 tonnes of CO2e GHG emissions through the production of 1,020 GWh of renewable energy in H1 2024 (24% increase compared to H1 2023).

Social Achievements

  • Increased workforce by 20% to 800 employees in Q2 2024 compared to Q2 2023; 34% of employees were women.
  • Total employee turnover rate decreased to 15.1% in Q2 2024 (3.7%p decrease compared to Q2 2023).

Governance Achievements

  • Welcomed Keiro Tamate to the Board of Directors in Q2 2024.
  • Implementation of 2026 sustainability strategy initiated in Q2 2024.

Climate Goals & Targets

Long-term Goals:
  • Set science-based (SBTi) near-term and net-zero Scope 1, 2 and 3 GHG emission targets.
Medium-term Goals:
  • Achieve 40% gender balance across all levels by 2030.

Environmental Challenges

  • Lower electricity prices resulted in lower revenue compared to H1 2023.
  • Increased construction activity may increase potential safety incidents.
  • Sales processes taking longer to conclude due to changing investment environment.
  • Expected interest rate cut did not materialize.
  • Power production curtailed due to negative prices.
Mitigation Strategies
  • Initiated first battery storage project (operational in H1 2025) to ensure stable power production and improve revenues.
  • Launched initiatives to minimize safety incidents and ensure minimal risk of injury.
  • Maintaining 2024 financial outlook of an EBITDA of EUR 230m, but with an increased risk margin of +/- 20%.

Supply Chain Management

Supplier Audits: All high-risk tier 1 suppliers for solar and wind projects have conducted in-depth assessments.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ESRS