Climate Change Data

A.P. Moller Capital

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:2,870 KT CO2e (AIF I & EMIF II combined)
Scope 1 Emissions:2,683,912 tCO2e (AIF I)
Scope 2 Emissions:119,574 tCO2e (AIF I)
Scope 3 Emissions:917,343 tCO2e (AIF I)
Renewable Energy Share:29% (of electricity generated)
Total Energy Consumption:14,457 GWh (AIF I & EMIF II combined)

ESG Focus Areas

  • Climate Change
  • Food Poverty
  • Supply Chain Disruptions
  • Health and Safety

Environmental Achievements

  • Reduced relative emissions intensity of Eranove's thermal power plants by 23% between 2015-2022.
  • Lumika Renewables expanded total capacity to 275 MW, including 5 MW of roof-mounted solar panels and 6 MW of batteries at MTN headquarters.
  • Arise Ports & Logistics completed electrification of four harbor cranes at New Owendo International Port, reducing emissions by 70%.

Social Achievements

  • Portfolio supported an estimated 156,000 jobs (direct, supply chain, and induced), with 21% female employment.
  • Portfolio contributed an estimated USD 1,332m to GDP.
  • Power assets provided 6.3 TWh of electricity.

Governance Achievements

  • Established science-based targets (SBTs) for decarbonization for two EMIF II investments.
  • Implemented KEY ESG software for improved data quality and reporting.
  • Eranove introduced a zero-fatality policy.

Climate Goals & Targets

Long-term Goals:
  • Net zero fund
Medium-term Goals:
  • Cabeólica aims to increase renewable energy penetration in Cabo Verde from 18% to 30% by 2025.
Short-term Goals:
  • Reduce scope 1 and 2 emissions of EMIF II investments by at least 25% during EMIF II ownership.

Environmental Challenges

  • Implementing ESG best practices in countries lacking mirroring national legislation.
  • Meeting EU regulatory requirements for asset-specific data.
  • Eight fatalities across AIF I portfolio companies.
Mitigation Strategies
  • Rolled out KEY ESG software for data collection and management.
  • Portfolio-wide initiative to reinforce workplace health and safety measures.
  • Investigations into root causes of fatalities and implementation of corrective actions.

Climate-Related Risks & Opportunities

Physical Risks
  • Power outages (load shedding)
Transition Risks
  • Decarbonization policy changes
Opportunities
  • Shifting to renewable energy sources

Reporting Standards

Frameworks Used: IFC Performance Standards, World Bank Group EHS Guidelines, OECD Guidelines for Multinational Enterprises, UN Guiding Principles on Business and Human Rights, TCFD

Certifications: Blue Dot Network (BDN) pilot (Mass Céréales Al Maghreb)

Third-party Assurance: Steward Redqueen

UN Sustainable Development Goals

  • SDG 7
  • SDG 8
  • SDG 9
  • SDG 13

Investments contribute to sustainable energy, decent work, infrastructure, and climate action.