Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental impact
• Employee well-being
• Diversity and equality
• Information security
• Anti-corruption

Environmental Achievements

• Actively works to reduce the Group’s direct environmental impacts, for example usage of raw materials such as paper and energy. We continually seek to improve our environmental performance by aspiring towards good industry practice in terms of environmentally friendly procedures, standards, business relations, and technology. To reduce our emissions, we travel only when absolutely necessary and strive to always communicate digitally, via the Internet, to minimise our use of paper, printing, and transport. Printing of books and publications is managed by suppliers and environmental friendly paper is used.

Social Achievements

• Continued to work on developing its employee offering including incentive programmes for key personnel and initiatives to develop Karnov’s employer brand and appeal as a workplace. Karnov also focuses on maintaining a strong author base across our markets by continuous dialogue, networking events and attractive remuneration terms. Karnov continually measures author satisfaction through an author -specific Net Promotor Score survey (willingness to recommend Karnov as a publisher of your work).
• Implemented a whistleblower function to identify corruption, irregularities or fraudulent acts.

Governance Achievements

• Further developed and adopted new policies in the areas of Code of Conduct, IT, information security and data integrity and also implemented a whistleblower function.
• Established an Information Security Board and contributes to high IT security standards and awareness within the Group.

Climate Goals & Targets

Environmental Challenges

• Highly competitive markets for legal information services.
• Risk of significant IT system disruptions.
• Risks associated with acquisitions (identifying targets, negotiation, financing, integration).
• Technical shortcomings in functionality or service availability.
• Dependence on key personnel and expertise.
• Challenges related to public tenders in the Swedish public sector.
• Goodwill representing a significant part of Karnov's balance sheet.
• Liquidity and financing risks.
• Sustainability risks (attracting and retaining competence, discrimination, human rights, anti-corruption).

Mitigation Strategies

• Monitors the industry and competitive landscape, maintains continuous dialogue with customers and partners, measures customer satisfaction regularly.
• Adopted a business contingency plan, implemented information security policy and guidelines, established an Information Security Board.
• Experienced organization for acquisitions, structured acquisition process, detailed integration plans.
• Defined and enforces IT security policies, procedures, and security measures, implemented a Group major incident process and a Group IT Change Board.
• Focus on attracting, developing, and retaining skilled employees, incentive programs, employer branding initiatives, maintaining a strong author base.
• Experienced organization and structured process for public tenders, continuous monitoring of public procurement framework.
• Annual impairment tests on goodwill and other intangible assets.
• Maintains liquidity reserve, maintains agreements on available lines of credit, conducts cash flow forecasts.
• Code of Conduct, personnel handbook, routines for handling discrimination and harassment, whistleblower function.

Supply Chain Management

Responsible Procurement

• Environmental friendly paper used for printing

Climate-Related Risks & Opportunities

Physical Risks

• Higher risk of floods, land collapses, landslides, erosion and heat-waves

UN Sustainable Development Goals

• Goal 5
• Goal 8
• Goal 16

Karnov aims to contribute to raising legal standards and thereby strengthen the foundation for justice in our society. The core of Karnov’s work is to make the true pillar of democracy - the law - accessible, sharable and debatable – enabling our customers to make better decisions, faster.

Environmental Metrics

ESG Focus Areas

• Diversity
• Governance
• Human Rights
• Environmental Responsibility

Environmental Achievements

• Reduced paper usage through digital communication
• Used environmentally friendly paper for printing

Social Achievements

• Launched "The Future Lawyer Survey", a report on the legal profession's challenges and opportunities
• Maintained employee satisfaction score of 7.8 (8.1 in 2018)
• 50% of workforce was female (51% in 2018)

Governance Achievements

• Implemented a whistleblower function
• Established a Group Ethics Committee
• Adopted a Code of Conduct

Climate Goals & Targets

Environmental Challenges

• Attracting and retaining competent employees
• Risk of discrimination and lack of gender equality
• Maintaining a strong author base
• Market changes and competition
• Information security risks
• Risks related to acquisitions
• Technical shortcomings
• Dependence on key personnel
• Public tenders
• Goodwill impairment
• Liquidity and financing risks
• Sustainability risks

Mitigation Strategies

• Creating an attractive and healthy workplace
• Implementing policies and guidelines to prevent discrimination and harassment
• Continuous dialogue, networking events, and attractive remuneration terms for authors
• Monitoring the industry and competitive landscape
• Adopting a business contingency plan and information security policy
• Establishing a structured acquisition process and integration plan
• Defining and enforcing IT security policies
• Focusing on attracting, developing, and retaining skilled employees
• Establishing an experienced organization and structured process for public tenders
• Conducting annual impairment tests
• Maintaining a liquidity reserve and credit lines
• Developing and adopting new policies in areas of Code of Conduct, IT, information security, and data integrity

Supply Chain Management

Responsible Procurement

• Using environmentally friendly paper

Climate-Related Risks & Opportunities

Physical Risks

• Higher risk of floods, land collapses, landslides, erosion, and heat waves

UN Sustainable Development Goals

• Goal 5
• Goal 8
• Goal 16

Karnov's initiatives contribute to these goals through promoting equal opportunities, supporting knowledge professionals, and promoting the rule of law.

Environmental Metrics

ESG Focus Areas

• Employee well-being
• Gender equality
• Ethical business conduct
• Information security
• Environmental impact (limited, focusing on paper, energy, and transport)

Environmental Achievements

• Initiated a project to deliver Scope 1, 2, and 3 emissions data for reporting. Reduced paper usage through digital communication.
• Printing of books and publications managed by suppliers using environmentally friendly paper.

Social Achievements

• Continued to work on developing its employee offering, including incentive programs.
• Maintained a strong author base through continuous dialogue, networking events, and attractive remuneration terms.
• Launched Kaius, a digital universe for Danish law students, providing access to Karnov Online.
• Published 'The Future of the Legal Profession' report, highlighting mental health in the legal industry.

Governance Achievements

• Established a whistleblower function with an external setup to ensure anonymity.
• Implemented a Group Ethics Committee to guarantee impartial action.
• Adopted new policies in the areas of Code of Conduct, IT, information security, and data integrity.

Climate Goals & Targets

Environmental Challenges

• Attracting and retaining competent employees and experts.
• Risk of discrimination and lack of gender equality.
• Managing pandemics and ensuring employee well-being.
• Risk of corruption and bribery.
• Environmental impact from buildings, transport, and printing.
• Market changes and competition.
• Information security breaches.
• Successful acquisitions and integration.
• Technical shortcomings in services and solutions.
• Dependence on key personnel and expertise.
• Public tenders and potential contract challenges.
• Goodwill impairment.
• Liquidity and financing risks.
• Impact of the Covid-19 pandemic.

Mitigation Strategies

• Creating an attractive and healthy workplace; employee satisfaction surveys, exit interviews, analysis of employee turnover, absence, and sick leave.
• Code of Conduct and personnel handbook governing a healthy work environment.
• Regular pulse checks during integration processes.
• Continuous dialogue, networking events, and attractive remuneration terms for authors.
• Zero tolerance for bribery and corruption; Code of Conduct, whistleblower function, Group Ethics Committee.
• Actively working to reduce direct environmental impacts; minimizing paper, printing, and transport; using environmentally friendly paper.
• Monitoring the industry and competitive landscape; continuous dialogue with customers and partners; regular Net Promoter Score surveys.
• Business contingency plan for IT disruptions; information security policy and guidelines; Information Security Board.
• Experienced acquisition organization; structured and systematic acquisition process; detailed integration plans.
• IT security policies, procedures, and security measures; Group major incident process; Group IT Change Board.
• Focus on attracting, developing, and retaining skilled employees; incentive programs; employer branding initiatives.
• Experienced organization and structured process for public tenders; monitoring changes in the public procurement framework.
• Annual impairment tests; monitoring relevant circumstances affecting the business.
• Maintaining a liquidity reserve; ongoing cash flow forecasts; maintaining agreements on available lines of credit; high transparency with creditors.

Supply Chain Management

Responsible Procurement

• Environmentally friendly paper for printing

Climate-Related Risks & Opportunities

Physical Risks

• Higher risk of floods, land collapses, landslides, erosion, and heatwaves

Reporting Standards

Frameworks Used: Chapters 6 and 7 of the Annual Accounts Act

Third-party Assurance: PwC

UN Sustainable Development Goals

• Goal 5
• Goal 8
• Goal 16

Karnov contributes to these goals through promoting equal opportunities, supporting knowledge professionals with high-quality content and innovative technology, and aiming to strengthen the foundation for justice in society.

Environmental Metrics

ESG Focus Areas

• Climate change
• Equality
• Anti-corruption
• Sustainability
• Rule of Law

Environmental Achievements

• 71% of the Company's energy comes from renewable sources
• Much of the Group’s waste is recycled

Social Achievements

• Launched Karnov Kommune, a legal information vertical for case workers in Denmark, sold to over 15 municipalities.
• Became the largest provider of EHS services in Denmark through the acquisition of Nørskov Miljø.
• Launched a mentoring program and initiatives focused on psychological safety to improve employee well-being.
• High level of employee satisfaction (8.2/10)

Governance Achievements

• Established a Content Strategy and Quality department to increase control at the Group level.
• Implemented a whistleblower function.
• Established an Ethics Committee at the Group level.

Climate Goals & Targets

Environmental Challenges

• Increased complexity of legislation and regulation.
• Cybersecurity risks.
• Managing the integration of acquired businesses (Region South).
• Attracting and retaining talent.
• Potential for corruption and irregularities.
• Climate impact from publishing, business travel, data storage, and energy consumption.
• Risk of deforestation linked to paper consumption.

Mitigation Strategies

• Continuous monitoring of the competitive landscape and customer needs.
• Implementation of information security policies, procedures, and security measures.
• Structured acquisition process and detailed integration plans.
• Focus on attracting, developing, and retaining employees; employee surveys and initiatives.
• Implementation of a whistleblower function and an Ethics Committee.
• Calculation and reporting of greenhouse gas emissions according to the GHG Protocol; activity-based carbon accounting.
• Purchasing FSC-certified paper and ensuring responsible forest management.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier code of conduct (environment, human rights, working conditions, regulatory compliance); purchasing FSC-certified paper.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GHG Protocol

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 5
• Goal 8
• Goal 13
• Goal 15
• Goal 16

Karnov's work contributes to these goals through promoting equality, supporting knowledge professionals, raising climate change awareness, promoting responsible forest management, and contributing to the rule of law.

Sustainable Products & Innovation

• Digital services that reduce paper use and transport.

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Peace, justice and strong institutions
• Gender equality
• Decent work and economic growth
• Responsible consumption and production
• Climate action
• Human Resources
• GHG emissions reduction

Environmental Achievements

• Decreased electricity consumption and increased renewable energy share in Norway and Region South.
• Decrease in emissions from company vehicles.

Social Achievements

• Maintained diverse and inclusive workplace with high employee satisfaction (8.5).
• 56% women in the group, 56% women with staff responsibility, 30% women in group management.
• Revised Code of Conduct rolled out (also applicable for suppliers).
• Zero reported cases of suspected breaches of the code of conduct, human rights violations, misconduct, harassment, or discrimination.

Governance Achievements

• Strong governance framework with transparent decision-making processes.
• Annual compliance training completed by all employees.
• ESG strategy fully implemented, including localized action plans.
• Strengthened stakeholder ESG communication.
• Completed full materiality analysis and full scope 3 screening for all entities.
• Completed full hotspot analysis for all entities.
• Supplier screening.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to macroeconomic and geopolitical turbulence.
• Acquisitions integration challenges.
• Difficulties acquiring emission data for reporting.
• Cultural differences across regions.
• Resource constraints.
• Information security risks.
• Attracting and retaining talent.
• Potential for goodwill impairment.
• Liquidity and financing risks.
• Meeting societal expectations for sustainable development.

Mitigation Strategies

• New credit facilities agreement to refinance existing debt.
• Structured acquisition process with detailed integration plans.
• Activity-based carbon accounting to raise awareness of emission hotspots.
• Global HR strategy to support a common culture.
• Investment in employee education and empowerment.
• Group-wide information security function and annual training.
• Attractive working environment and employee development initiatives.
• Annual goodwill impairment testing.
• Maintaining liquidity reserves and credit lines.
• Ongoing stakeholder dialogue and industry reports.

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct (environment, human rights, working conditions, regulatory compliance).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN SDGs

Certifications: FSC

Third-party Assurance: PricewaterhouseCoopers AB

UN Sustainable Development Goals

• SDG 5
• SDG 8
• SDG 13
• SDG 15
• SDG 16

Karnov's core business of providing legal knowledge solutions contributes to a robust legal system and democratic society, supporting SDG 16. Other SDGs are addressed through initiatives related to gender equality, economic growth, climate action, responsible production, and biodiversity.