Storskogen supports the subsidiaries' sustainability initiatives

Sustainability issues are important to all Storskogen’s subsidiaries. Storskogen supports the companies in their efforts to reach Group-wide sustainability targets, manage risks and pursue opportunities for increased competitiveness. This support may take the form of ongoing support, training, shared tools, networking and several other initiatives, and it constitutes a central part of the value creation in Storskogen and its subsidiaries and for the environment and society at large. In 2022, Storskogen signed the UN Global Compact, and the Company’s sustainability initiatives are based on the Ten Principles of the UN Global Compact for companies.

Annual and Sustainability Report 2022

Three focus areas

Storskogen’s efforts for a sustainable development are based on the sustainability areas Environmental, Social and Governance (ESG). In a materiality analysis performed in 2019, three focus areas were identified for Storskogen’s sustainability initiatives: Minimised environmental impact, A good employer and neighbour, and Responsible business.

ENVIRONMENTAL

Minimise environmental impact

Commitment
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
The Scope 3 target is under development

Outcome 2022
• 1.4 tCO2e/SEK m
• 77 percent fossil-free energy

^{1) Scopes 1 and 2}
^{2) Updated from renewable to include nuclear power}

SOCIAL

A good employer and neighbour

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

Target
• Gender distribution of 40–60 percent among employees in senior roles in Storskogen’s central organisation
• Gender distribution of 40–60 percent among the representatives of Storskogen’s central organisation on the business units’ boards of directors

Outcome 2022
Target fulfilment will be followed up in 2023

GOVERNANCE

Responsible business

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

Target
2023
• Identify high-risk suppliers in supply chain
• Include requirements in agreements
2025
• All suppliers have been evaluated

Outcome 2022
Target fulfilment will be followed up in 2023

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 2022

In 2022, the total emission intensity dropped compared with the previous year. Subsidiaries owned by Storskogen prior to 2022 also reduced their total emission intensity, and Storskogen is on the right path to achieve the target of halving its emission intensity by 2030, compared with 2020.

Storskogen's work on
human rights issues

Storskogen promotes the respect for and protection of fundamental human rights. This means that as a minimum, Storskogen shall comply with the internationally recognised principles of the UN Global Compact and the Universal Declaration of Human Rights. This includes performing due diligence on human rights issues to identify, combat and mitigate and accept responsibility for any negative impact on human rights in the own organisation and the 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