Corporate sustainability framework
Our overall company goal is to deliver competitive and sustainable renewable energy. Three main sustainability pillars contribute to achieving this goal:
- Managing social and environmental impact
- Being a trusted business partner
- Contributing to local value creation
Our sustainability framework is designed to incorporate all material topics of importance to stakeholders and our company with key ambitions and targets. Each topic is defined by a policy, an evaluation of results in 2021 and a set of targets to be measured and to guide our work for 2022 and onwards.
A summary of key results from 2021 and targets for 2022 are presented in our annual ESG Performance Report 2021.
Reporting on material ESG topics
We have identified ten material ESG topics through stakeholder engagement and internal assessments. We report on each topic in detail in our ESG Performance Report 2021 and more information can be found on the links below.
Our material topics are selected based on two sources; stakeholder expectations and internal strategic priorities. Stakeholder expectations are mapped through formal interviews, and in dialogue with our local stakeholders as part of our daily business on the ground. We also receive stakeholder feedback at the corporate level through dialogues with investors, regulators, and financiers.
Internal priorities are mapped through a sustainability survey. Topics of high external and internal importance receive the highest degree of management attention. For such topics, clear goals are established, monitored regularly, and reported externally. The matrix serves as the basis for our corporate sustainability framework and reporting.
National governments and customers
Close dialogue with national governments is a natural part of our operations. This dialogue is usually conducted by our project development team or community liaisons.
The main concern of governments in host countries, that will often also be our customers, is local impacts and value creation, which usually includes the economic value of the projects, increased access to energy, the potential for direct and indirect job creation.
Local government and communities
A social impact assessment is conducted for all projects and based on this a plan for stakeholder engagement is developed. Scatec emphasizes continuous dialogue with local and regional communities in order to manage and meet expectations. A dedicated community liaison officer is appointed to all our locations.
The main concern of local governments and communities is local impacts and value creation, specifically job creation, local content and education/training.
Co-investors and partners
A detailed dialogue with regards to expectations is the starting point for all partnerships and detailed in our agreements. Co-investors and partners are concerned that we are a trustworthy business partner that applies international best practice standards such as the IFC Performance Standards and the Equator Principles in order to manage environmental and social impacts.
Investors with a specific impact investment focus are also concerned with the local value creation and promotion of green energy.
Financing partners are mainly engaged prior to providing capital, and often have very specific requirements with regards to how environmental, social and governance factors are assessed and managed.
Financing partners also focus on our business conduct and efforts to ensure that we are a trustworthy business partner. Local financiers and financiers with an impact focus are also concerned with our local impact and value creation in terms of for example access to energy and job creation.
Existing and potential shareholders are engaged on a regular basis and often express their concerns and expectations directly with top management.
Shareholders are concerned with the ability to create value in the short and longer term and governance aspects such as anti-corruption and being a trustworthy business partner.
Our employees make up our company and who we are. Many of our employees are proud of our social and environmental impact through promoting renewable energy and our ability to demonstrate local value creation.
Employees are also concerned with own working conditions, health and safety, and opportunities to develop competencies and career path.
Contractors concerns are heard as part of project they are involved with and our contractors are considered as if they were our own employees when on our sites.
Contractors that work on our projects are concerned with their working conditions, fair wages, health and safety and opportunities to develop competencies.
Norwegian government and regulators
The Norwegian government is engaged through the various institutions that are interested in our efforts in Norway and in other countries.
The Norwegian government regulates our efforts and is also interested in supporting the positive impacts of our efforts in Norway and abroad.
Supplier visits are undertaken each year to monitor and establish a platform for good dialogue and feedback.
Our suppliers are concerned with fair pricing, working conditions, and health and safety.
NGO’s that represent local communities are engaged through each phase of the project. Environmental NGOs in Norway are engaged through collaboration with regards to promoting renewable energy.
NGOs in the local communities are concerned with our ability to create local value. Norwegian environmental NGOs support us in our efforts to promote renewable energy.