Sustainable investment
For Caverion, sustainability is one of the core strategic themes driving profitable growth. There is an increased market demand for services supporting sustainability of built environment, such as improved energy efficiency and better indoor climate. By focusing on environmental, social and governance aspects of our own operations we can also serve our customers in the best possible way and create long-term value. Caverion is extremely well positioned to support its customers' sustainability efforts. We are continuously improving and expanding our smart technology and digital solution offering to increase customer value and our carbon handprint.
EU Taxonomy
The EU taxonomy initiative is aiming for climate neutral EU 2050. EU taxonomy is a tool to help investors understand whether an economic activity is environmentally sustainable on the road to carbon neutrality.
Caverion has taken into account the EU taxonomy requirements applicable to listed companies as of the beginning of 2022. The next goal is to align reporting and targets with the EU taxonomy.
2021
EU taxonomy related reporting and calculation principles (pdf)
Caverion’s sustainability targets and actions
We want to contribute more to sustainability, and therefore, we have set our own sustainability targets with clear actions and KPIs. Our target by 2030 is to create sustainable impact through our solutions, with a positive carbon handprint 10 times greater than our own carbon footprint.
Caverion commits to the following sustainability targets and KPIs until 2025:
| 2021 | 2022 | 2023 | 2025 Target | |
| Our business makes sustainable impact | ||||
| Total carbon footprint defined and measured | 80% | 100% | 100% | 100% |
| Our offering has a defined carbon handprint | 20% | 25% | 25% | 100% |
| Carbon handprint over footprint (Scope 1-2) | >2x | >3x | >3x | 5x |
| We care for our employees |
||||
| Lost Time Injury Frequency Rate (LTIFR)* |
4.0 | 4.0 | 4.1 | <2 |
| Our employees trained in sustainability** |
N/A | 30% | 97% | 100% |
| Share of female employees |
11% | 11% | 11% | 15% |
| We ensure efficient and high-quality implementation of sustainability |
||||
| Supplier Code of Conduct sign-off rate *** | 66% | 74% | 80% | >90% |
| Our tender requests include sustainability criteria |
- | - | - | 100% |
* LTIFR refers to the amount or number of lost time injuries per 1,000,000 hours worked.
** Number of employees (excl. temporary, inactive, etc. employees) who have conducted Sustainability eLearning.
*** Share of purchase volume of suppliers who have approved Caverion SCoC or who have a CoC/SCoC which Caverion has approved.
Creating value for customers, shareholders and society
Our customers, employees, shareholders, partners and suppliers as well as the society at large are our key stakeholders from the sustainability perspective. We want to create value for all of them.
Policies supporting sustainable business
We are committed to conducting our business in a responsible and sustainable way and we expect the same from all our suppliers. Our everyday work is guided by Caverion’s Code of Conduct and other company policies and guidelines.
Sustainability risks
Related to sustainability-related risks, we recognise that especially climate change is likely to lead to more risks in our operational environment in the future. We are currently working to add climate change to our Enterprise risk management (ERM) process.
Caverion’s own operations are not extensively energy intensive and therefore risks related to growing energy costs are moderate. Generated waste and chemicals used in our operations are recycled and disposed of according to regulatory requirements. We follow all legal requirements, and current regulations and their development on a local and international level. We are also managing the ESG risks in our value chain by engaging our suppliers to our ESG targets.
Ratings and reporting
Non-financial Reporting
The EU Non-financial Reporting Directive (NFR Directive) requires us to disclose information on environmental, social, human rights and anti-corruption matters, necessary for understanding the company’s development, performance, position and impact. We disclose this information as a part of the Report of the Board of Directors annually. Our disclosures are also aligned with the Nasdaq ESG Transparency code, too.
External voluntary codes
In addition to our own sustainability targets, we also apply a number of external voluntary codes.
The UN Global Compact and the UN SDG’s
Caverion has adopted sustainable and socially responsible policies. We follow the ten principles of the UN Global Compact on human rights, labour, environment and anti-corruption.
Our sustainability reporting
- See our latest sustainability reports and other information from our Sustainability pages
Sustainability ratings and indeces
Caverion is included in the following third-party assessments, among others:
- Sustainalytics ESG Risk rating: Low risk (7/2021)
- MSCI A (12/2020)
- ISS ESG C (NP)
- ISS Corporate solutions Governance: 1 (1 Dec. 2020)
- CDP D (2020)
- OMX Sustainability Finland GI
- OMX Sustainability Finland PI
- OMX Sustainability Finland CAP GI
- OMX Sustainability Finland CAP PI
