Climate Change Data

Nekkar ASA

Climate Impact & Sustainability Data (2020, 2021, 2023)

Reporting Period: 2020

Environmental Metrics

Total Energy Consumption:205.738 MWh/year

ESG Focus Areas

  • Health and safety
  • Ethics and anti-corruption
  • Environment (product innovation, emissions and waste management)

Environmental Achievements

  • Introduced “Green Days” workshops for employees to discuss sustainable ideas.
  • Started a project to increase supplier awareness of emissions and waste issues.
  • Developed “Starfish,” a semi-closed fish cage designed to improve fish welfare and reduce waste.
  • Shipyard Solutions delivered a closed system for collecting wastewater (upgraded version to be delivered in 2021).

Social Achievements

  • Zero work incidents in 2020.
  • 1.62% absence due to illness in 2020.
  • Implemented precautionary measures for Covid-19 pandemic, including increased cleaning and work-from-home options.
  • Implemented an occupational health and safety management system in Vestby (similar system planned for Kristiansand).

Governance Achievements

  • Zero confirmed incidents of corruption in 2020.
  • Code of Conduct workshops held in 2019 at all business locations.
  • Developed a Business Partners Code of Conduct, included in standard contract terms.
  • Risk assessments conducted for new suppliers, customers, and sales representatives regarding financial and illicit activities.

Climate Goals & Targets

Short-term Goals:
  • Facilitating personnel development focusing on follow up of each employee through a systematic use of development appraisals
  • Further improve health and safety processes and follow-up
  • Implement revised process for follow-up of the health and safety of subcontractors
  • Re-establish Nekkar Emergency Response Team
  • Introduce climate accounting on both scope 1, 2 and 3
  • Arrange another “Green Day” creative workshop for employees
  • Further develop existing and new products that can contribute positively to the development in the marine areas, including completion of the Starfish cage
  • Review material use and recycling of Nekkar products

Environmental Challenges

  • Indirect GHG emissions from outsourced global production, steel manufacturing, and transportation.
  • Ethical risks throughout the value chain due to global operations.
  • Potential health and safety risks for employees working on-site.
  • Need for improved data collection on CO2 emissions.
Mitigation Strategies
  • Plans to relocate to more environmentally friendly offices (Kristiansand in 2021, Vestby completed April 2021).
  • Adherence to OECD guidelines for Multinational Enterprises and relevant national laws.
  • Implementation of occupational health and safety management systems, risk assessments, and safety rounds.
  • Aim to start climate accounting on all three scopes in 2021.

Supply Chain Management

Responsible Procurement
  • Code of Conduct for Business Partners
  • Supplier evaluation questionnaire (Shipyard Solutions)

Climate-Related Risks & Opportunities

Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: Oslo Stock Exchange (OSE) Euronext guidelines

Certifications: ISO 45001 (Shipyard Solutions)

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 13 (Climate action)
  • Goal 8 (Decent work and economic growth)
  • Goal 14 (Life below water)

Nekkar's activities and initiatives relate to these SDGs through sustainable product development, reduced emissions, focus on employee well-being, and sustainable use of marine resources.

Sustainable Products & Innovation

  • Starfish semi-closed fish cage
  • Digital solutions focusing on electrification and reduced energy consumption

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:5176 tCO2e/year
Scope 1 Emissions:0.8 tCO2e/year
Scope 2 Emissions:2.6 tCO2e/year
Scope 3 Emissions:5172.6 tCO2e/year
Total Energy Consumption:185.2 MWh/year

ESG Focus Areas

  • Working environment (including equality and diversity)
  • Health and safety
  • Ethics and anti-corruption (including human rights)
  • Environment (including product innovation)

Environmental Achievements

  • Started climate accounting on direct and indirect emissions (Scope 1, 2, and 3)
  • Developed Starfish, a semi-closed fish cage designed to improve fish welfare and reduce environmental impact
  • Shipyard Solutions delivered shiplifts with wastewater collection systems to avoid waste to seawater

Social Achievements

  • Organized an ESG Day for all employees to increase awareness of ESG topics
  • Conducted an employee survey with an 81.4% response rate to assess working environment and areas for improvement
  • Revised Employee Handbook to outline expectations for the working environment

Governance Achievements

  • Started collecting signatures from all employees on the Code of Conduct
  • Developed a Business Partner Code of Conduct
  • Started the process of establishing an anonymous whistleblowing channel

Climate Goals & Targets

Long-term Goals:
  • Further develop existing and new products that can contribute positively to the development in the marine areas
Medium-term Goals:
  • Achieve 100% of employees having signed the Code of Conduct
  • Achieve 100% of critical suppliers or business partners having signed the Business Partner Code of Conduct
  • Obtain ISO 9001 certification
Short-term Goals:
  • Increase employee survey response rate to at least 90%
  • Improve communication regarding compensation/renumeration policies
  • Complete HSE procedures for the Starfish cage

Environmental Challenges

  • Limited data on emissions in 2020
  • High percentage of indirect GHG emissions (Scope 3) from outsourced global production
  • Potential ethical risks related to Shipyard Solutions' activities in countries with heightened risk of corruption
Mitigation Strategies
  • Updated climate accounting in 2021 using CEMAsys' digital solution
  • Developing sustainable products like Starfish and Skywalker to reduce environmental impact
  • Implementing measures to improve ethical standards and anti-corruption practices, including a whistleblowing channel and Code of Conduct

Supply Chain Management

Responsible Procurement
  • Business Partner Code of Conduct
  • Supplier evaluation questionnaire (Shipyard Solutions)

Climate-Related Risks & Opportunities

Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Core Option, Oslo Stock Exchange (OSE) Euronext guidelines

Certifications: ISO 45001 (Shipyard Solutions)

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 8 (Decent work and economic growth)
  • Goal 9 (Industry, innovation and infrastructure)
  • Goal 14 (Life below water)

Nekkar's activities and initiatives relate to these SDGs through sustainable product innovation, focus on electrification and reduced energy consumption, and commitment to sustainable use and development of marine resources.

Sustainable Products & Innovation

  • Starfish
  • SkyWalker
  • Syncrolift’s digital platform

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:3,298.2 tCO2e/year (restated from previous report)
Scope 1 Emissions:1.1 tCO2e/year
Scope 2 Emissions:2.1 tCO2e/year (location-based), 107.9 tCO2e/year (market-based)
Scope 3 Emissions:3,140.8 tCO2e/year (steel) + 152.4 tCO2e/year (travel) (restated from previous report)
Total Energy Consumption:215.3 MWh/year

ESG Focus Areas

  • Business ethics and anti-corruption
  • Emissions from own operations
  • Health and safety

Environmental Achievements

  • Initiated a project to develop Environmental Product Declarations (EPDs) for each product to map their impact and implement improvement measures.
  • Started carbon accounting in 2020 (base year), updated in 2021 and 2022, and added Techano Oceanlift in 2023.

Social Achievements

  • 100% of new suppliers screened using social criteria in 2023.
  • Implemented the anonymous whistleblowing channel (My Voice / Mitt Varsel) in 2022 and provided training on its use in 2023.
  • 89% response rate in 2023 employee survey, showing 79% average motivation indicator.

Governance Achievements

  • Published Nekkar’s first ever integrated report, integrating annual report and accounts with ESG improvement efforts.
  • Held a presentation regarding the Corporate Sustainability Reporting Directive (CSRD) by KPMG.

Climate Goals & Targets

Short-term Goals:
  • Update the current materiality assessment to consider financial impact (double materiality approach) in 2024.
  • Prepare transition from 2021 GRI Standards to the new European Sustainability Reporting Standard (ESRS) and external audit in 2024.
  • Conclude EPDs by the end of 2024.

Environmental Challenges

  • Global ambition/implementation gap for the transition to more renewable energy.
  • Climate policy and taxation changes that could limit or delay the adoption of Nekkar’s new technologies.
  • Increase in the frequency and intensity of extreme weather events (potential project delays).
  • Low percentage of women in the workforce (14% in 2023).
Mitigation Strategies
  • Hedging instruments to mitigate currency risk.
  • Thorough risk evaluation of projects during tender phase and continuous monitoring.
  • Active approach to managing financial market risks.
  • Recruitment policy to attract more women to the company.

Supply Chain Management

Supplier Audits: 6 supplier screenings in 2023 (8 in 2022)

Responsible Procurement
  • Supplier Evaluation Questionnaire (SEQ) including questions on sustainability, ethical standards, environmental management and health and safety.
  • Business Partner Code of Conduct.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events leading to project delays.
Transition Risks
  • Global ambition/implementation gap for the transition to more renewable energy.
  • Climate policy and taxation changes.
Opportunities
  • Development of energy-efficient products and technologies to reduce carbon footprint in various industries.

Reporting Standards

Frameworks Used: GRI 2021 Standard, Euronext guidance on ESG reporting

Certifications: ISO 45001 (Syncrolift)

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 9 (Industry, innovation and infrastructure)
  • Goal 13 (Climate action)
  • Goal 8 (Decent work and economic growth)
  • Goal 14 (Life below water)

Nekkar's activities and initiatives contribute to these goals through sustainable technologies and practices in ocean-based industries.

Sustainable Products & Innovation

  • SkyWalker wind turbine installation and service tool.
  • Starfish closed fish cage solution.