How we work with sustainability
Clean and sustainable energy
Scatec develops, builds, owns, operates and maintains power plants that generate clean and reliable electricity. Electricity is vital for the economic growth of nations and for human welfare. We strive to increase access to clean, affordable, and renewable electricity generation in emerging markets. Sustainability is an integral part of our organisation and embedded in all business units.
The sustainability team in each country consists of both corporate support teams and specialists who report to the global headquarters and ultimately to the Executive Vice President of Sustainable Business, who is part of the Management team reporting directly to the Board of Directors. Our sustainability team collaborates closely with other business units to review and address relevant sustainability matters on a regular basis. An important part of this work is to develop key performance indicators reviewed by Management and the Board of Directors annually. Specific sustainability topics including health, safety, security and environment (HSSE), corruption, procurement, environmental and social impacts and stakeholder engagement are reviewed by Management and the Board of Directors on a biweekly and a monthly basis.
In 2020, Scatec established an ESG Committee to guide our work and commitment towards ESG matters and ensure regular review of relevant ESG topics. Scatec has developed a policy for each material ESG topic outlining the key principles and management approach governing the way we operate and address the issue. The management approach for material topics can be found in each chapter of this report. Further information on our corporate governance can be found in the Board of Director’s corporate governance report and on our corporate website.
Scatec is committed to operate in line with the Equator Principles and IFC’s Environmental and Social Performance Standards to ensure consistent practices across all projects. Our work is also guided by the OECD Guidelines for Multinational Enterprises. We work with trusted partners such as the IFC, Norfund, KLP and several larger development banks who all have high standards for the projects and their associated impacts.
IFC Performance Standards
Standards that define IFC clients’ responsibilities for managing their environmental and social risks.
The Equator Principles
Risk management framework adopted by financial institutions assessing and managing environmental and social risk in development projects.
Guidelines for Multinationals
Recommendations from governments to multinational enterprises on responsible business conduct.
Key highlights 2021
Cumulative direct jobs created in projects under construction
GHG emissions avoided (tonnes of CO2) from all projects
Numbers of nationalities within our workforce
Safety and security
Health, safety, security and environment (HSSE) are key priorities for Scatec. We take responsibility, set requirements and monitor HSSE performance in the development, construction and operations phases of our projects. We define health and safety standards and communicate these to our employees and subcontractors. The KPIs represent Q3 2022 corporate figures for rolling 12 months.