Sustainalytics, a leading global ESG risk-rating agency, ranked Scatec Solar as the company with lowest ESG risk out of 450 companies in the global utilities industry (see overview of relative performance below). The risk rating assessed the following top material topics of our company:
- Corporate Governance: Foundational structures for the management of ESG risks. The quality of integrity of the company’s board and management and its remuneration systems are identified as the highest weighted areas of focus.
- Human Capital: The management of risks relate to scarcity of skilled labor as well as labor relations (nondiscrimination, working hours and minimum wages)
- Community Relations: How companies engage in local communities through both positive initiatives and mitigation of negative impacts
- Business Ethics: Management of ethical considerations applicable to most or all sectors (taxation and accounting, anti-competitive practices and IP issues)
- Product Governance: How we manage responsibilities to our clients (utilities) – reliability of power supply and the quality and safety of the infrastructure (to avoid service interruptions)
- Health and Safety: Management of workplace hazards affecting a company’s own employees and on-site contractors.
- Land Use & Biodiversity: Focuses on how companies manage their impact on land, ecosystems and wildlife.
Scatec Solar continuously work for increased transparency and openness through our reporting. We refer to our “Sustainability” and “Reporting and Policies” section on our corporate website for a comprehensive overview of ESG data and information.