Commercial, Energy Efficiency, GHG Emissions, Sourcing Renewables  -  April 14, 2023

CapMan Moves on Scope 1 & 2 Targets

CapMan, a Nordic private assets management and investments company, aims to reduce absolute Scope 1 and 2 GHG emissions 51% by 2032 from a 2021 base year. The company has received validation for these targets from the Science Based Targets initiative (SBTi).

CapMan also commits to increasing annual sourcing of renewable electricity from 46% in 2021 to 100% by 2030. The company plans to set a net-zero target for Scope 1 and 2 GHG emissions.

“Every organization 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, in a statement.

CapMan’s Scope 3 asset level targets also include reducing 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, lowering 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 and committing to 54.5% of eligible private equity investments by assets under management setting SBTi validated targets by 2027 and 100% by 2032.