Environmental standards at Altor
We are into building better businesses. That is why our environmental standards go well beyond current rules and regulations.
”We want to invest and govern with impact, focused on creating a positive delta with regards to economic, social, and environmental capital.” says Stephanie Hubold Head of ESG at Altor. “With our new Responsible Investment and Ownership Policy, we have set important targets to push us and our family of companies in the right direction”.
We have set long term goals and focus on short-term action to tackle climate and other environmental challenges. This includes:
- Achieving carbon-neutrality by 2024 (or within 3 years of Altor ownership)
- Covering scope 1-2 GHG emissions, and scope 3 if > 40% of total emissions
- Working towards an abatement plan in line with the Paris Agreement (Science Based Targets methodology)
- For offsets, following The Oxford Principles for Net Zero Aligned Carbon Offsetting, in particular Principle 1. This importantly includes prioritizing reduction of emissions over offsetting, and ensuring environmental integrity through the use of verifiable, high-quality offsets (addressing the risk of non-additionality, reversal, negative unintended consequences)
- Striving for net-zero by 2045, also beyond Altor’s ownership
- Where material, measuring physical and financial impact from climate change (as per TCFD guidance), and committing to invest in mitigation measures by 2023
- For all other environmental aspects determined as material for the respective company and/or industry (such as circular resource management, water, land use, biodiversity), managing towards best-in-class performance – with targets and milestone plan.
The standards in the Responsible Investment and Ownership Policy apply to the portfolio companies of the Altor Funds as well as our own operations.