Statkraft’s sustainability strategy

Statkraft’s sustainability strategy encompasses the company’s approach to the UN Sustainable Development Goals (SDGs) and focuses on three material topics: Climate, Biodiversity, Human Rights and Circular Economy.

Sustainable development goals in Statkraft

Statkraft recognises the importance of businesses in contributing to the realisation of the SDGs, and has assessed its impact on all 17 SDGs, following international good practice. The company has decided to focus particularly on seven goals. These are goals which the company is well-positioned to contribute to, and which Statkraft regards as particularly important to address.

Climate

As an overall climate ambition, Statkraft is committed to a power sector pathway compatible with a 1.5oC global warming target. Its top-level climate targets are to remain Europe’s largest generator of renewable energy and to be among the top three most climate friendly European-based power generators. Statkraft has through its core business and strategy a large positive contribution to climate change mitigation. Statkraft aims to maximise this contribution through its growth targets.

Related to its business activities, Statkraft has direct and indirect emissions of greenhouse gases. The company is targeting carbon neutrality for its Scope 1 and Scope 2 emissions by 2040. Statkraft also aims to reduce emissions from its supply chain, and will encourage suppliers to contribute to this effort.

Biodiversity

As an overall ambition Statkraft is committed to mitigating its impact on biodiversity in a responsible way, to continuously improving the understanding of its impact and reporting this transparently. This will enable the company to identify relevant mitigation measures. Statkraft has four cross-cutting focus areas to increase biodiversity efforts:

1. Streamline and disclose biodiversity performance data
2. Understand our impact and evaluate relevant mitigation measures
3. Leverage biodiversity networks internally and externally
4. Increase awareness and knowledg

Human rights

While Statkraft is powering a green future the company is equally committed to ensuring a just transition, taking care of our planet, the environment and the people living on it. Statkraft is committed to respecting human rights and decent working conditions, and continuously works to integrate this in the way the company does business. Particular focus is given to indigenous and tribal peoples’ rights and supply chain workers’ conditions.

Statkraft guarantees a living wage for all employees and will require the same for site-based workers. Statkraft is committed to promoting living wages in the supply chain based on the principle of leverage. Statkraft will comply with national working hour regulations and ILO recommended limits and is committed to promoting adherence to such standards in the supply chain based on the principle of leverage.

Statkraft's Corporate Management's Human Rights Commitment Statement outlines our commitment to respect human rights.

Circular economy

Statkraft strives to decrease the material footprint of our own activities and have minimal resource use across technologies. Our primary focus for increasing circularity is on wind and solar, including the use of energy storage solutions.

Our key priorities and actions going forward is to understand our footprint and impact related to circularity by mapping our footprint and impact related to resource use and circular thinking, and based on that identify and develop specific actions for each of our technologies, for example:

• Map lifecycle of key materials, resource inflows and resource outflows from our operations
• Develop end of life strategies for our wind and solar assets, including repowering and rehabilitation during lifetime
• Map our extraction of virgin non-renewable resources
• Investigate the extent of certain waste materials, e.g. microplastic waste
• Map and increase our use of recycled material

Download the complete sustainability strategy here: