Skagerak Capital recently held a comprehensive Environmental, Social, and Governance (ESG) workshop, gathering representatives from its portfolio companies and the boards of its funds. The workshop aimed to foster knowledge-sharing, enhance sustainability practices, and equip participants with actionable insights for advancing their ESG strategies.
The event kicked off with an introduction to the topic by Karoline, who also shared the latest results from this year’s sustainability reporting across the Skagerak Capital portfolio. Her presentation highlighted progress made by the portfolio companies and set the stage for discussions on key ESG topics.
Mathias from Ignite delved into the essentials of carbon accounting, emphasizing the importance of emission reporting for businesses aiming to manage their environmental impact. He outlined various methodologies for calculating emissions, discussing their respective pros and cons. During his presentation, Mathias introduced the five key principles of carbon accounting: Accuracy, Transparency, Completeness, Consistency, and Relevance. These principles serve as a foundational guide for businesses embarking on their emissions reporting journey. He advised starting with rough estimates across as many emission categories as possible and then directing further effort toward identifying and addressing the most significant contributors. This pragmatic approach enables businesses to gain a clear understanding of their carbon footprint without getting bogged down by initial complexities.
To bring the concept closer to home, Mathias showcased Ignite’s innovative software by calculating his personal carbon footprint. Through this demonstration, he revealed how Ignite’s solution simplifies emissions tracking and provides actionable insights. Notably, his personal emissions in 2024 were significantly lower compared to 2023, primarily due to an international trip to Australia in 2023.
In a session focused on the financial sector’s role in sustainability, Guro from Sparebank 1 Sør-Norge provided valuable insights into the bank’s climate transition plan. She detailed their ongoing efforts to drive emission reductions in key sectors such as shipping, agriculture, and real estate, illustrating the bank's commitment to supporting sustainable economic growth. Guro emphasized the importance of collaboration between financial institutions and businesses to accelerate the transition to a low-carbon economy. By integrating sustainability into their lending practices and investment strategies, Sparebank 1 Sør-Norge actively supports clients in adopting greener practices and reducing their environmental footprint.
Highlighting specific examples, Guro discussed initiatives within the shipping industry, where the bank works with clients to finance cleaner technologies and energy-efficient vessels. In agriculture, the bank is helping farmers transition to more sustainable practices by offering tailored financial solutions that support innovation and emission reductions. For the real estate sector, Guro showcased their efforts to promote energy-efficient buildings and retrofitting solutions, which play a key role in cutting emissions and enhancing sustainability.
Through these targeted efforts, Sparebank 1 Sør-Norge is positioning itself as a driving force in the financial sector’s journey toward sustainability, demonstrating that banks can play a pivotal role in enabling businesses to meet climate goals while fostering economic resilience.
The final session featured Hedvig from Celsia, who provided an in-depth overview of the EU Taxonomy, a critical framework designed to improve sustainability reporting and guide businesses toward more sustainable practices. Hedvig explained how the taxonomy establishes clear criteria for identifying environmentally sustainable economic activities, offering businesses a structured approach to align their operations with climate goals. She emphasized that compliance with the EU Taxonomy is not merely a regulatory requirement but a strategic opportunity to enhance corporate transparency, attract sustainable investments, and mitigate long-term risks.
Hedvig further explored strategies for identifying and closing strategic gaps in compliance, stressing the importance of integrating the taxonomy into core business practices. By mapping their activities against the taxonomy’s six environmental objectives—including climate change mitigation, adaptation, and circular economy—companies can gain a deeper understanding of their sustainability performance. She highlighted practical steps businesses can take to bridge compliance gaps, such as conducting thorough sustainability assessments, improving data accuracy, and fostering cross-departmental collaboration.
The workshop provided a collaborative platform for participants to exchange ideas and strategies, underscoring Skagerak Capital’s commitment to fostering ESG excellence across its portfolio. With expert-led sessions and practical takeaways, we hope attendees left equipped with the knowledge to elevate their sustainability efforts and respond effectively to stakeholder and regulatory demands.