Climate action

Broadening renewable energy offerings – acquisition of major hydropower player SN Power

1.6 mill tons GHG emissions avoided from solar plants in operation year end 2020

Climate target to reach net zero by 2050 for scope 1 and 2

Improving ESG performance

Closer supplier engagement on key ESG risks and climate reporting

Health and Safety: No serious injuries, TRIF: 1.1 and LTIF: 0.6

67 community investment initiatives ongoing in 2020

71% completion rate human rights corporate training

Top ESG ratings

Sustainalytics: Low risk #1 of 450 – Utilities and #1 of 48 – Renewable power producers

ISS ESG: A- (excellent) – status: prime

MSCI: AAA Top rating – highest scoring range relative to global peers

Conducting business during the pandemic

All plants in full operations in 2020 and continued pursuing new business opportunities

Read more

Sustainability highlights 2020

Closer collaboration with key suppliers
  • In 2020, Scatec was recognised with a place on the Carbon Disclosure Project’s (CDPs) 2020 Supplier Engagement Leaderboard based on our engagement efforts with suppliers on climate matters
  • By working with our suppliers to better understand their emissions and ambitions, we are building our knowledge base and sharing experiences that mutually benefits us and our suppliers
The EU Taxonomy – our approach
  • A classification system with criteria for which economic activities can be considered environmentally sustainable
  • We are closely monitoring the EU Taxonomy regulation and development
  • We have undertaken an external verification by a third party on Scatec’s alignment with the Taxonomy criteria – refer to final 2020 statement here
  • We are also in the process of evaluating our hydropower portfolio against the current criteria while we await the final version of the Taxonomy
Human rights – key focus
  • Scatec respects all internationally recognised human rights including the International Bill of Human Rights and the International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work.
  • At the end of 2020, Scatec launched an interactive corporate human rights training for all employees
  • We also collaborated with a third party to develop and standardise a human rights training programme for security personnel in 2020
Solid health and safety performance
  • We continuously work for zero harm to personnel, assets and the environment
  • We delivered close to 3.7 million working hours with no fatalities or serious injuries in 2020. During the year, we had projects under construction in Malaysia, Argentina, South Africa and Ukraine engaging close to 3,800 workers during construction, of whom a large portion were local and unskilled labour
Grievance mechanism in all projects
  • A stakeholder analysis and stakeholder engagement plan is always carried out in accordance with the IFC’s Performance Standards and the Equator Principles
  • A grievance mechanism is implemented for all projects, available locally at the project site, CLO office and on our corporate website.
  • 79 grievances registered in 2020, of which 82% were resolved during the year
  • 14 grievances are still in the process of being resolved at year end

Scatec awarded top rating for climate transparency

Scatec was in 2020 recognised with a place on the Carbon Disclosure Project’s (CDPs) prestigious ‘A’ List for tackling climate change.

Read more

Triple A rating on our ESG performance

Earlier in 2020, Morgan Stanley Capital International (MSCI) rated Scatec’s ESG performance with a triple A and highest scoring range relative to global peers.

Read more

A word from the CEO

In 2020 we set ambitious goals for our scope 1 and 2 emissions to reach net zero by 2050. A roadmap to achieve this target will be one of our key focus areas for 2021.

Read more