Sustainability is at the core of Aker Horizons’ investments, decisions and operations
Sustainability at Aker Horizons
Aker Horizons is an owner of industry-leading companies driving decarbonization and sustainable development, and a developer of projects converting renewable energy into clean hydrogen and its derivatives. Sustainability at Aker Horizons encompasses the investments we make, the projects we develop, and our engagement with the companies we own. We are committed to develop a portfolio of companies and projects that are planet-positive.
What is planet-positive
The concept of planet-positive recognizes that climate action and sustainable development cannot be reduced to a simple, one-dimensional approach.
To qualify as planet-positive, the activity must have a significant positive impact on one environmental objective, without causing serious adverse impact on another environmental objective or have an adverse social impact. Environmental objectives may include for instance climate mitigation, pollution reduction, circular business models or biodiversity impact.
Our sustainability ambition is anchored in our strategy and embedded in the highest level of governance in our organization. Aker Horizons’ sustainability policy summarizes our commitments across four key pillars:
Planet-positive impact
- Our investment thesis is grounded in a desire to be planet-positive
- We commit to accelerating net zero
Respect for people
- We are dedicated to respect for human and labor rights
- We ensure diversity, inclusion and a secure working environment
Prosperity for all
- We strive for our solutions to contribute to reduced economic inequality
- We engage in science, technology and innovation to support our sustainability agenda
Good governance
- We ensure good corporate governance throughout our organization
- Planet-positive impact is a top strategic priority
Sustainability ambitions
Aker Horizons has set ambitious and time-bound strategic goals for our positive impact through the expansion of planet-positive activities.
Our 2025 ambitions
1 Measuring total capital investments, projects in operation and construction and annual emissions reduction from projects in operation and construction respectively (as defined by Aker Horizons’ accounting policy), originated by Aker Horizons and platform companies, before sell-downs. For other projects, Aker Horizons’ or platform companies’ pro rata share of projects has been applied.
Sustainable Development Goals
Aker Horizons supports the Sustainable Development Goals, and has identified eight priority SDGs on which we believe we can exert the greatest planet-positive impact.
Business development and investments
Aker Horizons is committed to undertaking planet-positive investments necessary to restore climate, the environment and biodiversity and to do so by developing sustainable, responsible and profitable companies and workplaces. Sustainability considerations are incorporated in the early-stage processes for both investments and project development, through initial screenings, impact analyses and due diligence.
Active ownership
As an active owner of companies, Aker Horizons engages directly with our portfolio companies on sustainability topics, and supports their journey to become best-in-class on sustainability. Our involvement takes place at various levels – from corporate dialogue, through direct board and/or nomination committee positions and through general meetings.
Transparency and reporting
Aker Horizons believes in tracking, assessing and transparently reporting our sustainability performance. Transparent reporting contributes to maintaining accountability and internal focus on sustainability topics, understanding progress towards our own targets as well as fulfilling emerging reporting requirements and meeting investor expectations. By using recognized frameworks, we can contribute to a broader industry movement of comparability and across-the-board transparency.
Since 2021 Aker Horizons has been committed to the UN Global Compact corporate responsibility initiative and its principles in the areas of human rights, labor, the environment and anti-corruption. Aker Horizons is a signatory to the Principles for Responsible Investments, and a partner of the Net Zero Asset Managers initiative of the Institutional Investor Group on Climate Change. Aker Horizons was for the first time in 2022 a disclosing company to the Carbon Disclosure Project, and has committed to set a science-based target through the Science-Based Targets initiative.
Results and ratings
Greenhouse gas emissions
Aker Horizons applies the financial control method for consolidation. Financially-controlled investees are now included in Aker Horizons’ own emissions (Scopes 1-3 line by line), while equity accounted investees are included in Aker Horizons’ Scope 3 Category 15 – Investments. The majority of Aker Horizons’ Scope 1 and 2 emissions take place in Mainstream Renewable Power’s operations.
Sustainability ratings
Taxonomy status
KPIs determined in accordance with Annex 1 and the Art 8 Delegated Act.
Turnover
CapEx
OpEx
Early stage projects that are too premature to claim alignment within the next five years or present a concrete roadmap to alignment, have been reported as not aligned. This does not mean that the projects themselves will not be aligned once developed, but simply that such an assessment will be carried out once they are more mature and it is possible to come to a conclusion. For further details, refer to Aker Horizons’ Annual and Sustainability Report 2023.
Other key figures for Aker Horizons and its portfolio
1 The low percentage of renewable energy is due to the use of fossil fuels at sites and in construction, as well as the grid mix in countries other than Norway containing a smaller proportion of renewables. The energy consumption of Aker Horizons in isolation (i.e. excluding financially-controlled entities or investments, but including Asset Development) was 98.5% renewable(location-based).
Reporting concerns
Aker Horizons welcomes feedback on how we manage sustainability, including but not limited to human and labor rights. If you, as an individual, community or company, have questions or concerns regarding our activities, our feedback channel is open to anyone. All grievances are taken seriously. It is possible to report anonymously, and the mechanism is available in many languages. Please select the category “other” if the concern is not related to compliance and integrity, but relates to the topics described above – including human rights.
If you seek information about Aker Horizons’ work on sustainability, including requests associated with the duty to provide information under the Norwegian Transparency Act, please contact our Sustainability Director.
Whistleblower and grievance channel
Report a concern through our whistleblower and grievance channel
akerhorizons.portal.speeki.com
General enquiries or other requests
Ingrid Lomelde
Email: ingrid.lomelde@mainstreamrp.com
+47 922 84 074