Climate Change Data

Environmental Metrics

ESG Focus Areas

• High-quality health and safety culture
• Transition to carbon-neutral energy production
• Co-creation of local circular economies

Environmental Achievements

• Reached 75% renewable energy in total energy production (increased by 12% from 2020)
• Decreased Scope 1 CO2 emissions by 35% compared to 2020
• Installed five flue gas condensers in Finland and one in Sweden
• Plant conversions in Forssa and Lieksa enabled switching from peat to biofuels

Social Achievements

• Achieved a record 91% response rate in the Great Place to Work Trust Index employee survey
• Exceeded the goal of 1,000 safety and environmental observations (40% increase compared to the previous year)
• Implemented a code of conduct integrated into procurement criteria and process

Governance Achievements

• Implemented a new governance structure following the transfer of ownership to Ardian Infrastructure
• Approved a code of conduct for ethical business practices
• Updated Nevel’s Privacy notice in compliance with GDPR

Climate Goals & Targets

Environmental Challenges

• Ongoing global pandemic impacting energy availability, business continuity, and employee/supplier health and safety
• Potential changes in the regulatory environment
• Development and potential uncertainties in fuel supply
• Risks associated with the operating environment (safety, environment, cybersecurity)

Mitigation Strategies

• Maintained strict measures to ensure energy availability and business continuity during the pandemic
• Continuous evaluation of risks and opportunities at different company levels
• Reviewed and adapted the enterprise risk management model
• Implemented corrective actions following safety incidents

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Code of conduct published and integrated into new supplier agreements
• Renewed fuel-sourcing practices focusing on reducing fossil fuels and increasing residual wood

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001 (Finland), ISO 14001 (Finland and Sweden)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 7
• SDG 8
• SDG 9
• SDG 12
• SDG 15

The report details how Nevel's initiatives contribute to these goals.

Sustainable Products & Innovation

• Nevel Cool solution (cooling service using waste heat)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Co-creating local circular economies
• Driving the transformation to carbon-neutral energy production
• Building a strong health and safety culture
• Transparency and corporate citizenship

Environmental Achievements

• Increased share of renewable energy from 75% (2021) to 80%
• Decreased Scope 1 CO2 emissions by 27% compared to 2021
• Reduced peat use in Haapavesi power plant from 34% to 17%
• Switched from peat to wood chips in Tootsi, Estonia district heating production
• Successful piloting of biochar production in Kramfors, Sweden

Social Achievements

• Improved safety performance with TRIF of 8.2 (21.3 in 2021)
• 83% response rate in Great Place To Work® survey, Trust Index of 69
• Implemented new recruitment tool
• Launched whistleblowing channel
• Initiated cooperation with industrial customers for circular economy solutions

Governance Achievements

• Further developed management system
• Published first sustainability report
• Performed internal and external audits (Kiwa)
• Established an internal auditor training program

Climate Goals & Targets

Environmental Challenges

• Increasing demand for domestic fuel, rising fuel prices and inflation
• Energy crisis and uncertainty in the market

Mitigation Strategies

• Reshaped fuel sourcing practices and secured fuel supply
• Discontinued fuel imports from Russia
• Widened fuel mix to include new energy sources (e.g., SRF)
• Developed risk mitigation practices for major natural and environmental disasters

Supply Chain Management

Responsible Procurement

• Ethical business criteria for suppliers and subcontractors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001

UN Sustainable Development Goals

• SDG 7
• SDG 8
• SDG 9
• SDG 10
• SDG 12
• SDG 13
• SDG 15
• SDG 16

Nevel's core business focuses on these SDGs

Environmental Metrics

ESG Focus Areas

• Climate change
• Health and safety
• Environmental compliance
• Sustainable supply chain

Environmental Achievements

• Scope 1 emissions intensity per unit of sold energy decreased by 8% in Nevel's Real Estate solutions business.
• Increased share of SRF used at Forssa power plant to 17%.
• Åmotfors waste-to-energy plant completed its first full year of operation.
• Share of excess heat and energy generated with electrification solutions increased to 8%.

Social Achievements

• Implemented a new measure on preventive fire safety rounds, resulting in 288 rounds conducted.
• Increased number of safety observations by 39% and preventive risk assessments by 55%.
• 95% of Nevel employees completed an eLearning safety programme.
• Acquired two biodegradable materials processing plants in Forssa and Pori, Finland.

Governance Achievements

• Developed its compliance work and centralised all legislative change review processes under one system.
• Performed internal audits in Estonia, Finland and Sweden.
• External certification audit by Kiwa confirming ISO 9001 and ISO 14001 compliance.

Climate Goals & Targets

Environmental Challenges

• Energy crisis significantly impacted the availability and cost of biofuel.
• Increased need to use peat as an energy source.
• Slowdown in industries like the forest sector impacted the availability of forest residuals.
• Total Scope 1 emissions intensity per unit of sold energy increased from 81 to 88 g CO2e/kWh.

Mitigation Strategies

• Ensuring security of supply in energy production and distribution.
• Managing the supply chain.
• Widening the mix of fuels and energy sources, including new technologies like electrification.
• Close collaboration with customers.
• Investments in upgrading utility infrastructure.
• Expanding business with material circularity solutions.
• Increased use of solid recovered fuel (SRF).

Supply Chain Management

Responsible Procurement

• Ethical business criteria for suppliers and subcontractors
• Sustainable sourcing practices for biofuel

Climate-Related Risks & Opportunities

Transition Risks

• Stringent emission reduction requirements

Opportunities

• Development of energy-efficient products
• Widening the energy mix

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001

UN Sustainable Development Goals

• 7
• 8
• 9
• 10
• 12
• 13
• 15
• 16

Nevel's commitments and actions to support the UN Sustainable Development Goals are detailed in the report.

Sustainable Products & Innovation

• Biogas solutions
• Material circularity solutions