Storskogen supports business units’ sustainability initiatives

Various sustainability issues are important to all Storskogen’s business units. The most material topics differ between business units depending on sector and geographical location. Storskogen supports the business units in their efforts to reach Group-wide sustainability targets, manage risks and pursue opportunities for increased competitiveness. These efforts are central to Storskogen’s value creation and involve ongoing support, training, shared tools, networking and several other initiatives.

Annual and Sustainability Report 2023

Three focus areas

Storskogen’s efforts for a sustainable development are built on the sustainability areas Environmental, Social and Governance (ESG). The three focus areas of Storskogen’s sustainability initiatives – Minimise environmental impact, A good employer and neighbour and Responsible business – are based on Storskogen’s materiality assessment.

ENVIRONMENTAL

Minimise environmental impact

Undertaking
To halve emissions by 2030 compared with 2020 and reach net zero by 2045.

Target
2030
• Emission intensity 0.95 tCO2 e/SEK m¹⁾
• 100 percent fossil-free energy²⁾
• Offset any remaining emissions
2045
• Net zero

Outcome 2023
• 1.2 tCO2e/SEK m
• 73 percent fossil-free energy²⁾

^{1) Scope 1 and 2}
^{2) Applies only to purchased electricity (not district heating, district cooling)}

SOCIAL

A good employer and neighbour

Undertaking
We strive to be a gender-equal and inclusive organisation.

Target
• 40 percent women and 60 percent men among employees in senior roles in Storskogen’s central organisation
• Gender distribution of 40–60 percent among the individuals appointed by Storskogen to the business units’ boards (on an aggregated level)

Outcome 2023
• Gender distribution of 40–60 percent among employees in senior roles in Storskogen’s central organisation
• 29 percent women and 71 percent men among the individuals appointed by Storskogen to the business units’ boards (on an aggregated level)

GOVERNANCE

Responsible business

Undertaking
To identify, stop, prevent, mitigate and account for any negative impact on human rights and the environment in the supply chains.

Targets
2023
• All business units must map their supply chain to identify any high risk suppliers
• All business units that have high-risk suppliers must include requirements in agreements
2025
• Evaluation of high-risk suppliers’ compliance with the Business Partner Code of Conduct

Outcome 2023
• 89 percent of the business units have mapped their supply chain, of which 48 percent have high-risk suppliers
• 74 percent of business units with high-risk suppliers have included requirements in agreements

Storskogen's climate work

Climate change is one of the major challenges of our time. Storskogen’s climate strategy was adopted by the Group management in early summer 2021. Storskogen’s targets are to reach net zero by 2045 and halve its emission intensity for direct and indirect emissions (Scopes 1 and 2) by 2030. These targets are aligned with the Paris Agreement and Storskogen joined the Science Based Targets initiative (SBTi) in October 2021.

The base year is 2020, with an intensity measure of 1.9 tCO2e/SEK million.

Climate target

2025

KPI: 80 percent fossil-free energy
KPI: 100 percent of Storskogen’s companies shall have business plans that are aligned with the Group target.

Climate target

2030

Emission intensity 0.95 tCO2e/SEK million
KPI: 100 percent fossil-free energy. Offset any remaining emissions.

Climate target

2045

Net zero
Strive for net zero emissions to the extent possible (at least 85 percent) and offset the remainder.

Intensity measures 2023

In 2023, the total emission intensity was reduced compared with the previous year. The total emission intensity of the business units owned by Storskogen before 2023 also fell, which means that Storskogen is in line with the 2030 target of halving emission intensity in Scopes 1 and 2.

Storskogen's commitment
to human rights issues

Storskogen shall respect and protect fundamental human rights. This means that as a minimum, Storskogen shall comply with the UN Global Compact and the Universal Declaration of Human Rights and assess human rights issues to identify, counteract and mitigate any negative impact in
Storskogen’s organisation and value chain.

Supporting sustainability initiatives in the companies constitutes a central part of Storskogen’s value creation in our subsidiaries, the environment and society at large

Amelie Nordin, Head of Sustainability

Whistleblowing service

Storskogen strives to maintain a transparent business climate and high business ethics. We value the safety and respect of everyone affected by our business. Our whistleblowing service allows you to anonymously sound the alarm if you suspect something that is not in line with our values and ethical principles or that may seriously affect our organisation or the life or health of an individual person. To ensure an anonymous means of communication, our whistleblowing service is administrated by an external service provider, WhistleB. All messages are encrypted.

Whistleblowing service