Sustainability

Clean energy in a sustainable way

Key ESG performance

4.7 mill tCO2e

GHG emissions avoided (all projects)

28 percent

Female managers

0.7 per mill hours

Lost Time Incident Frequency (LTIF)

4.0 mill tCO2e

GHG emissions avoided (all projects)

29 percent

Female managers

0.9 per mill hours

Lost Time Incident Frequency (LTIF)

EU Taxonomy

Scatec’s substantial contribution to the EU Taxonomy’s environmental objectives is based on our strategic activities and integrated business model. We are a project organisation that generates affordable and reliable renewable energy and related solutions across emerging markets.

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Corporate Sustainability Reporting Directive

Scatec initiated its readiness assessment to the CSRD requirements in second quarter 2023. Large listed companies should disclose information on the impact of their activities on people and the environment, including risks and opportunities arising from social and environmental issues.

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ESG Performance report highlights

Social impact
Social impact

Health, safety and security:
Fatalities: 0  |  LTIF: 0.9  |  TRIF: 2.1  |  High potential incidents: 0.8

Responsible supply chain:
First Chain of Custody audits completed in 2023
45 suppliers screened on E&S criteria through EcoVadis

Diversity, equity, inclusion and belonging:
29% females globally and 49 different nationalities
First female Plant Manager hired in South Africa

Local value creation:
65% long-term local development programmes in 2023
1,065 direct local jobs from three projects under construction

ESG ratings
ESG ratings

Position Green: A+ rating on ESG reporting, among the 100 largest companies on the Oslo Stock Exchange

Carbon Disclosure Project (CDP): A list company, top score on climate reporting and transparency

Sustainalytics: Low risk (12.8), high score in Utilities industry group

EcoVadis: Gold, among the top 5% of companies rated

MSCI: AA rating, high scoring range relative to global peers

ISS ESG: B rating, prime status (threshold C+)

 

Climate impact
Climate impact

Net zero target approved by SBTi
Climate target set in line with the 1.5°C scenario – minimise direct emissions by 2030 and achieve net zero emissions across our value chain by 2040

Clean energy: 3,615 GWh
Delivered 3,615 GWh clean energy in 2022 (100%)

GHG emissions avoided: 4.0 mill tCO2e
Reached 4.0 million tCO2e – all projects where Scatec has an ownership share (100%)

Reporting on material ESG topics

Material topics are identified and prioritised based on the principle of double materiality, ensuring that both the impact on the business and the impact of the business are considered. Further, stakeholder expectations and internal strategic priorities inform our analysis.

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Net Zero Roadmap published

Scatec’s near term and net zero targets were approved by the Science Based Target Initiative (SBTi) in January 2023. Our targets are to minimise direct emissions by 2030 and achieve net zero emissions across our value chain by 2040. Our Net Zero Roadmap details the six key initiatives we will prioritise to reach our targets.

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Key targets 2024

100

E&S assessments in new projects (percentage)

2.8

GHG emissions avoided (mill tCO2e)

2.2

Lost Time Incident Frequency (per mill hours)

100

Code of Conduct training of employees (percentage)

ESG resources

We are committed to transparent communication to enable analysts, investors and other stakeholders to analyse and compare our performance. All corporate policies and documents can be downloaded here.

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