CapMan commits to net-zero emissions

February 3, 2022

CapMan Group press release
3 February 2022 at 8:30 a.m. EET

CapMan commits to net-zero emissions

CapMan accelerates environmental, social and governance leadership by setting ESG-linked targets. As part of this initiative, CapMan commits to the Science Based Targets initiative (SBTi) with ambitious greenhouse gas emissions reduction plans to place CapMan and its portfolio companies and real estate on a path to net-zero emissions.

At CapMan, we are guided by our mission to build value for the enrichment of society and our collective impact is significant. Our portfolio companies employ a total of 13,000 people with a combined turnover of €2.2 billion. We also manage real estate with a combined area of 1,300,000 square meters. Our assets under management amount to €4.5 billion.

“We are extremely proud that sustainability is centrally on the agenda across our investment strategies, portfolio companies and investors. We believe that strong ESG performance is reflected in strong financial performance, a link that is extensively supported by international research. As active owners, we can initiate change that results in collectively substantial climate action and improved diversity, thereby contributing positively to the Nordic region, and beyond. Our role and mandate as a private assets manager make us perfectly positioned to work together with all stakeholders in our portfolio companies and assets to seize opportunities, implement changes and make a difference for future generations,” says Joakim Frimodig, CapMan’s CEO.

CapMan commits to SBTi as a private assets firm and thereby places its investments on a scientifically verified path towards net-zero greenhouse gas emissions. SBTs are short and long-term GHG emissions reduction targets that are informed by independent climate science, ensuring that a company’s emissions are in line with the Paris Agreement. The plan is validated by the Science Based Targets Initiative and provides a step-by-step process for how to reach the targets within the selected timeframe. The commitment is part of CapMan’s systematic approach to mitigating climate change.

“Setting SBTs and getting them confirmed by the SBT Initiative is considered best practice. The short-term (around five years) and long-term (around 10 years) targets provide a clear guidance for us as investors to understand what we need to accomplish in order to reach net zero well ahead of EU’s 2050 target. By driving this initiative, we help our portfolio and ultimately our stakeholders transition towards a carbon neutral society through positioning our portfolio companies and assets firmly on track towards net-zero emissions,” says Anna Olsson, ESG Director at CapMan.

In addition to the commitments to mitigate climate change, we seek to create strong and equitable businesses and to work in a transparent and responsible manner by maintaining employee satisfaction at a high level in our portfolio companies and at CapMan Group. We are also working towards equal representation, through setting targets on appointments to board and management teams within our portfolio companies and through developing policy & process for diversity and inclusion within CapMan. Furthermore, we are moving towards integrating sustainability objectives into executive remuneration in our portfolio companies and developing remuneration at CapMan to include ESG targets.

We set annual improvement targets for GHG emission reductions, employee satisfaction and diversity in order to monitor and demonstrate the progress towards long-term targets. We report on our achievements for each target annually.

“We want to be part of building companies that we are proud of and that employees are proud to work for. We set clear improvement targets to work towards and by linking sustainability targets to executive remuneration we put ESG on the agenda,” concludes Olsson.

Read more about CapMan’s ESG targets here: https://www.capman.com/company/sustainability/strategy-and-targets/

For additional information, please contact:
Anna Olsson, ESG Director, CapMan, tel. +46 73 387 75 61

 

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €4.5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 160 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

About Science Based Targets

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. The SBTi drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. SBT shows companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change. The initiative mobilizes industry leaders and companies to set net-zero targets in line with curbing global warming to 1.5 °C on average, which is widely recognised as the limit at which the effects on the global climate are still on a sustainable level.  CapMan sets the guidance in line with SBTs tailored guidance for private equity asset managers.