Climate Financing

While working to limit emissions from the operations, we invest annually in climate projects to help reduce greenhouse gases in the atmosphere faster and take climate responsibility outside our value chain. Since 2020, we have measured our total carbon dioxide emissions from all activities in our business and invested in climate projects by purchasing an equivalent amount of emission rights.

    Since 2024, we have chosen to go beyond traditional carbon offsetting and instead invest in climate projects according to the Beyond Value Chain Mitigation (BVCM) model. BVCM is a scientifically accepted method to support global efforts towards net-zero by funding projects outside the own value chain, focusing on real benefits, not just matching emissions in tons of carbon dioxide. In addition to climate benefits, the projects contribute to more equal opportunities, better food supply and the development of new technologies. The approach is supported by WWF, Gold Standard, SBTi, CDP and Exponential Roadmap, among others. The budget for projects is set based on ambition and priorities, such as through internal carbon pricing or in relation to turnover and profit. We have decided to set our internal carbon price based on two parameters: 1% of EBITDA and 50% of our total emissions, priced at SEK 100/tonne CO₂e. This resulted in a total climate project budget of SEK 770,000 for 2024. The projects we have supported are as follows.

    Boreal Mix, Norrland

    Protection of Swedish forest ecosystems. In northern Sweden, we support Fight CO2's long-term efforts to protect High Nature Value forests. Through continuous cover forestry, biodiversity is preserved and developed, while carbon is sequestered in living forests. The project also works with Sami villages to improve conditions for reindeer herding in areas where 70% of pastures have disappeared.

    Delta Blue Carbon, Pakistan

    The world's largest mangrove project. We support the restoration of 226,000 hectares of wetlands, a natural ecosystem that stores large amounts of carbon dioxide, improves water quality and protects coastal land from erosion, strengthening the resilience of local communities to climate-related threats. The project employs thousands of people, with a particular focus on women's participation, and also promotes diversity.

    Indian Carboneers, India

    Biochar that stores carbon for over 1,000 years. Together with Dutch Carboneers, we are contributing to a decentralized biochar project that helps over 7,500 farming communities in India. Turning crop residues into biochar improves soil health, increases crop yields and securely stores carbon in the soil for thousands of years. Women play a key role, from production to leadership, strengthening both gender equality and the local economy.