CapMan received validation for its science-based GHG emission reduction targets. Our near-term reduction targets are aligned with a 1.5°C scenario and we seek to set a net-zero commitment during this year.
The Science Based Targets initiative (SBTi) validated CapMan’s target to reduce absolute Scope 1 and 2 GHG emissions 51% by 2032 from a 2021 base year. CapMan commits to increase annual sourcing of renewable electricity from 46% in 2021 to 100% by 2030. These targets put CapMan firmly on the path for limiting temperature increase to 1.5°C as outlined by the Paris Agreement by 2030. Next, CapMan will set a net-zero target for Scope 1 and 2 GHG emissions.
“Climate change is one of the most pressing issues facing our existence. Every organisation needs to do its part to mitigate climate change and an approach rooted in science is key to establish credible reduction targets. CapMan committed to the SBTi early 2022 and has now completed the next phase of the process as we have set reduction targets for the Scope 1 and Scope 2 GHG emissions arising from our own operations. For Scope 3, we have set targets for our investments following the private equity sector guidance. As an active owner, we work together with our portfolio stakeholders to reach targets and build sustainable outcomes,” says Anna Olsson, Head of ESG at CapMan.
CapMan follows the SBTi guidelines for private asset companies and sets GHG emission reduction targets as a private asset company. As such, CapMan sets Scope 3 asset level targets as follows:
- CapMan Plc commits to reduce its real estate portfolio GHG emissions from residential buildings within its direct investment portfolio 50% per square meter by 2032 from a 2021 base year.
- CapMan Plc commits to reduce its real estate portfolio GHG emissions from service buildings within its direct investment portfolio 72% per square meter by 2032 from a 2021 base year.
- The targets follow a sector decarbonisation approach.
Private Equity and Infrastructure
- CapMan Plc commits to 54.5% of its eligible private equity investments by assets under management setting SBTi validated targets by 2027, and 100% by 2032.
- The targets follow a portfolio coverage approach.
CapMan’s vision is to be the most responsible Nordic private asset company. Using 2021 levels as a base year, CapMan will regularly and transparently report on the progress of its targets.
Read more: www.sciencebasedtargets.org