Climate Change Data

Capsol Technologies ASA

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:158.42 tCO₂e (Scope 3)
Scope 1 Emissions:0.0 tCO₂e
Scope 2 Emissions:0.35 tCO₂e
Scope 3 Emissions:158.42 tCO₂e
Total Energy Consumption:43,620 kWh (office space, Jan-Jun 2023)

ESG Focus Areas

  • Climate Change Mitigation
  • Air and Water Pollution
  • Equal Remuneration for Women and Men
  • Ethical Business & Transparency
  • Anti-corruption and Bribery
  • Data Privacy and Security

Environmental Achievements

  • Reduced Scope 3 emissions related to business travel through increased use of Teams meetings.
  • Relocated to a BREEAM certified office building utilizing geothermal heating.

Social Achievements

  • Established a dedicated HR function in 2023.
  • Implemented an occupational health and safety system and risk management system.
  • 33% of employees are women, 17% of leadership roles are women.

Governance Achievements

  • Consistently followed Norwegian law and the Norwegian Code of Practice for Corporate Governance.
  • Revised Code of Business Conduct and Ethics in September 2022.
  • Uplisting to the main list on the Oslo Stock Exchange (Oslo Børs) planned for the first half of 2024.

Climate Goals & Targets

Long-term Goals:
  • 5-10% carbon capture technology licensing market share globally by 2030
Medium-term Goals:
  • Implement environmental criteria in selection of suppliers
  • Continue to prioritize RD&I to further improve Capsol's carbon capture solutions
  • Develop and mature new business opportunities
  • Continue to focus on cost reductions throughout the CCUS value chain
Short-term Goals:
  • Achieve net zero for scope 1 and 2 emissions by 2030
  • Develop a green procurement strategy for the company

Environmental Challenges

  • Competition in the carbon capture market.
  • Risk of competitors developing superior technologies.
  • External factors influencing commercialization (CO2 emission unit prices, customer preferences, regulations).
  • Loss of business from significant customers, contract terminations.
  • Cybersecurity risks.
  • Legal, regulatory, and political risks.
  • Financial market risks (currency, interest rate, tax, price, credit, liquidity, capital).
  • Risk of insufficient demand for products.
  • Unpredictability of payments under license agreements.
  • Dependence on key employees and partners.
Mitigation Strategies
  • Hiring of an innovation manager and Chief Technology Officer.
  • Development of CapsolGT® solution for gas turbines.
  • CapsolGo® demonstrations to gather data and improve technology.
  • Diversified portfolio with licensing business model.
  • Use of external IT consultants to safeguard company data.
  • Establishment of guidelines and policies (Code of Business Conduct and Ethics).
  • Whistleblower channel.
  • Continuous monitoring of liquidity and currency exposure.
  • Limited cost and investment commitments.
  • Active monitoring of registered intellectual property.
  • Efforts to be an attractive employer (modern office, flexible working hours, recognition of contributions).
  • Employee surveys to monitor work motivation and address issues.

Supply Chain Management

Responsible Procurement
  • Working with reputable counterparties
  • Expecting suppliers to comply with applicable laws and respect internationally recognised human rights

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas (GHG) Protocol

UN Sustainable Development Goals

  • SDG 7
  • SDG 9
  • SDG 12
  • SDG 13

Capsol's technology contributes to these goals through climate change mitigation, sustainable energy production, sustainable consumption and production patterns, and climate action.

Sustainable Products & Innovation

  • CapsolGo®, CapsolEoP®, CapsolGT®