GlobalData offers a comprehensive analysis of Scatec, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Scatec‘s ESG performance. GlobalData’s company profile on Scatec offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Scatec, a Norwegian renewable energy company, has set a net-zero target for its greenhouse gas (GHG) emissions. The company aims to achieve this target by 2040. Scatec's latest filings mentioned the keywords 'Emissions' and 'Renewable Energy' most number of times in relation to 'Net Zero'. Scatec has specific goals related to scope 1, scope 2, and scope 3 emissions. By 2030, the company aims to reduce absolute scope 1 GHG emissions by 95%, achieve 100% annual sourcing of renewable electricity (scope 2), and decrease scope 3 GHG emissions by 55% per kWh. Furthermore, from 2030 through 2040, Scatec commits to attaining at least 99% absolute reductions in scope 1 and 2 GHG emissions, while targeting a 97% reduction in scope 3 GHG emissions per kWh by 2040.
In 2022, the company has reported 3,930 tonnes of CO2 emissions under scope 1 and scope 2 and 1,468 thousand tonnes of CO2 emissions under scope 3. Scatec successfully averted approximately 4.7 million tonnes of greenhouse gas (GHG) emissions across all projects in which the company holds an ownership stake. Scatec's latest filings mentioned the keywords 'Emissions' and 'Renewable Energy' most number of times in relation to 'Net Zero'.
Scatec has taken steps to reduce its emissions, including conducting interviews with data owners and internal stakeholders to understand the key processes and control activities for measuring, recording, and reporting ESG data. The company has also performed limited substantive testing on a selective basis to check that data has been appropriately measured, recorded, collated, and reported. Scatec has assessed that the process for reporting GHG emissions data follows the principles of relevance, completeness, consistency, transparency, and accuracy outlined in The Greenhouse Gas Protocol Corporate Standard Revised edition (2015).
Scatec has partnerships to support progress on value chain CO2 reductions and communicates its compliance requirements through its Supplier Code of Conduct. The company engages with suppliers to gather data at the product level to support the demands for documentation on the use of chemicals and environmental product declarations. Scatec has established sustainability partnerships and business development meetings in areas such as packaging, transport, and products.
In conclusion, Scatec has set a net-zero target for its GHG emissions and aims to achieve this target by 2040. The company has taken steps to reduce its emissions and has specific goals related to scope 1, scope 2, and scope 3 emissions. Scatec has partnerships to support progress on value chain CO2 reductions and communicates its compliance requirements through its Supplier Code of Conduct. The company has redirected investments towards sustainable projects and has established sustainability partnerships and business development meetings in areas such as packaging, transport, and products.
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