Private equity investor Nordic Capital has received the Science Based Targets initiative’s (SBTi) approval greenhouse gas (GHG) emissions reduction targets.
The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). It helps companies set science-based emissions reduction targets in line with climate science.
This recognition from the leading framework for best practices in emissions reductions and net-zero targets affirms that the firm’s climate goals are aligned with the Paris Agreement’s objective of limiting global warming to 1.5°C above pre-industrial levels.
The approved targets include a commitment to reduce absolute Scope 1 and 2 GHG emissions by 50% by 2030, using 2021 as the base year. Scope 1 covers direct emissions from owned or controlled sources, while Scope 2 accounts for indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company. Additionally, Nordic Capital aims to ensure that 66% of its portfolio companies, by investment volume, set their own science-based targets by 2025.
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Chair of Nordic Capital’s responsible investment advisory board, Christopher Ekdahl, said: “Receiving approval from the SBTi underscores our dedication to sustainable investment and responsible business practices. These targets not only align with global efforts to combat climate change but also enhance the long-term value and resilience of our portfolio companies.”
Nordic Capital’s managing partner, Kristoffer Melinder, echoed this sentiment. “Sustainability is a core component of our investment strategy. By setting ambitious, science-based targets, we are reinforcing our commitment to driving positive environmental impact. We believe that integrating sustainability into our investment approach is essential for creating lasting value for all stakeholders.”
