Climate work
Like many other players in our industry, we are working to increase our understanding of what impact our operations have on the climate and the environment, including water, biodiversity and ecosystems. We are continuously deepening our knowledge and analysis of our climate impact. By calculating our emissions using the Greenhouse Gas Protocol (GHGP) within scopes 1, 2 and 3 both upstream and downstream, we can create a picture of our impact. Upstream means the emissions created by how our own operations are conducted, for example by heating the premises in which we conduct business and through business trips taken by our employees. Downstream means the emissions that occur from the products we produce and sell.
Climate compensation
The basis for our climate strategy is to gradually reduce greenhouse gas emissions according to clear targets on a yearly basis and in the longer term. We are aware that in the short term, we will not be able to reduce all emissions. One important element of our climate strategy is thus to include climate compensation for the emissions we are unable to avoid.
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Materiality analysis
The purpose of our materiality analysis is to identify areas for sustainable development in both the short and long term. This analysis helps us to determine what is essential for us to continue focusing on and developing. It includes monitoring of global events, identification of our stakeholders and their interests and identification of our impact from a sustainability perspective. The annual materiality analysis, together with our sustainability strategy, forms the basis for sustainability plans.
Climate targets
During 2021 we established the Group’s climate targets, which support the Paris Agreement and its important goal in the fight against climate change: