Our approach to Environmental, Social and Governance (ESG) is driven by impact. We focus our efforts on the sustainability matters most relevant to our business and stakeholders, and where we, as a company, can influence outcomes and achieve measurable improvements. As Svanehoj has grown and become more global, this also means setting a common direction that is relevant across locations, functions, and business units.
Our ESG targets towards 2030 are structured around three focus areas closely connected to our business: People, Product, and Production. They reflect the sustainability matters most relevant to our business and clearly link our ESG priorities to how we operate and create value.
Together, the focus areas address how we protect and develop our employees, how our technologies contribute to the development of the marine industry, and how we continuously improve the way we design, manufacture, source, and deliver our solutions and services.
People
Our people are fundamental to how we develop and grow as a business. We focus on creating a safe and engaging workplace across all Svanehoj locations, supported by a strong safety culture, effective leadership, and a continued focus on employee engagement and retention.
Product
For Svanehoj, some of the most significant emissions-related opportunities are connected to our products. We develop technologies for sectors undergoing significant change, focusing on solutions for low- and zero-emission marine fuels and on reducing emissions associated with the materials used in our products. This requires continued innovation and market deployment, as well as better data and insight into materials and emissions throughout the value chain.
Production
As our manufacturing footprint becomes increasingly global, we see opportunities to improve how and where we produce, source, and transport our products. We focus on making better use of our global setup, while continuously improving efficiency and resource use across our operations. This includes reducing emissions from long-distance logistics as well as continuing to improve energy efficiency and reduce the emissions intensity of our own operations.
OUR ESG TARGETS
Turning targets into progress
The ESG targets provide a common direction for Svanehoj while allowing the way we achieve them to evolve with our business. New technologies, greater insight into our environmental impact, and collaboration across sites, with partners, and with suppliers will all play a part. We will continue to measure our progress and report transparently on our performance because sustainability is not a separate initiative with a defined endpoint. It is part of how we continue to develop a stronger and more efficient business.
An updated DMA reflects a changing business
As part of developing our new ESG targets towards 2030, and in light of Svanehoj’s growing global footprint, we reviewed and updated our Double Materiality Assessment (DMA) to ensure that our priorities continue to reflect the sustainability matters most relevant to our business.
Our DMA assesses sustainability matters from two perspectives: the impact of our activities on people and the environment, and the potential financial effects on our business.
The DMA identifies climate change and our workforce as the most material sustainability matters, ranking highly for both impact and financial materiality. Resource use and circular economy, consumers and end-users, and business conduct are also identified as material topics.
The DMA shapes the direction of our ESG strategy towards 2030, with People, Product and Production providing a clear framework for addressing key material matters through our people, our solutions and the way we operate. As our business continues to develop, the assessment will help us keep our ESG efforts focused where they matter most.
