Sustainable cities and communities
Make cities inclusive, safe, resilient and sustainable
Our sustainability reporting
We have chosen to include our Sustainability Report in our Annual Report as an integrated part. The report is prepared in accordance with the GRI Standards. The Sustainability Report has been subjected to a limited assurance review by a third party, KPMG.
Our latest sustainability report
In our sustainability report, we report, among other things, on our results in the area of sustainability. Below are some of our achievements.
During 2023, the Group’s climate goals were validated and approved by the Science Based Targets initiative (SBTi). This means that our goals of reduced GHG emissions by 2030 are in line with the latest climate research and the Paris Agreement’s 1.5°C goal. The goals aim to reduce our emissions to reach net zero by 2045. To reach this, we defined and prioritised some 20 activities to start in each Group company. Fagerhult Group has reduced GHG emissions 24 per cent since 2021.
Our operations are assessed as eligible under the EU Taxonomy Regulation. The proportion of turnover that is aligned with the Taxonomy’s climate goals increased 1 percentage point in 2023, while the proportion that is aligned (sustainable) increased 2.2 percentage points. A relatively large portion of our turnover is Taxonomy-eligible. Aligned/sustainable turnover are defined by products in the top two energy classes (A and B) as well as the proportion of turnover that includes sensors. Our systematic work to continuously implement the most recent technology means we are approaching higher energy classes in all of the solutions from our brands. We are also increasing the share of smart solutions, leading to an increasingly larger share of sustainable turnover.
GHG emissions
ktonnes CO2e
Taxonomy-eligible
of turnover
86%
Taxonomy-aligned
of turnover
7.2%
Reporting frameworks
UN’s sustainability goals show the way
Our sustainability agenda coordinates our work in ensuring that we are a successful and sustainable Group that contributes to the UN Sustainable Development Goals, the EU’s Green Deal and the Paris Agreement.
From the UN’s 17 Sustainable Development Goals, we have identified two where Fagerhult Group can have the most impact as well as the greatest opportunity to make a positive contribution.
No. 11
No. 12
Responsible consumption and production
Ensure sustainable consumption and production patterns
Science Based Target initiative
To ensure that we are a successful and sustainable Group that contributes to the UN Sustainable Development Goals, the EU’s Green Deal and the Paris Agreement we have developed climate goals validated by Science Based Targets initiative (SBTi). This means that we will reduce our greenhouse gas emissions according to the 1.5 degree target from the Paris Agreement and become net-zero by 2045. Our targets were validated by SBTi during 2023.
UN Global Compact
As part of our commitment to sustainable and responsible business practices, we have embedded the Ten Principles of the United Nations Global Compact into strategies and operations, and committed to respecting human and labour rights, safeguarding the environment, and working against corruption in all its forms.
GRI
We report in accordance with the GRI Standards. We are also preparing to be able to report in time for the implementation of ESRS. You can find our full GRI index in page 94-96 in the Annual and Sustainability report