Watch a recording from our Sustainability Morning below with our CEO Ari Lehtoranta (November 2020)
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.
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.
The sustainability targets will be reached by
We have also defined three focus areas until 2025 which will support in reaching the sustainability targets:
Our value creation 2020
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.
Our most important asset in value creation are our more than 15,000 employees. We highly value our competent employees. Caverion is a reliable and trustworthy partner for customers, employees and labour unions, governmental officials and business partners.
There is a universal demand for actions to mitigate climate change, increase energy efficiency and promote a circular economy. Our capabilities in developing, delivering, operating and maintaining solutions are essential to respond to this demand.
Our financial capital consists of a balanced portfolio of equity and hybrid capital treated as equity under IFRS and interest-bearing loans. Secured financing enables Caverion’s long-term development and related investments. We have local operations and tax contributions in 11 countries.
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.
Caverion is exposed to different types of strategic, operational, political, market, customer, financial and other risks. Caverion's typical operational risks relate to its Services and Projects business. These include risks related to tendering (e.g. calculation and pricing), contractual terms and conditions, partnering, subcontracting, procurement and price of materials, availability of qualified personnel and project management. To manage these risks, risk assessment and review processes for both the sales and execution phase are in place, and appropriate risk reservations are being made. Moreover, 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.
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.
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.
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. We will publish the first taxonomy reporting regarding the year 2021 in 2022.
Caverion is included in the following third-party assessments, among others: