Sustainability Governance

Impact on the sustainability topic
The energy sector - electricity, heating and transport - gives rise to approximately 75% of the world's greenhouse gas emissions. Transformation of the energy sector is thus the key to reducing greenhouse gas emissions.

The sustainability topic’s impact on our business
The drive to limit climate change in line with the Paris Agreement and the 1.5-degree ambition is increasing the demand for renewable energy throughout the energy sector, and our business.

What we do
OX2's decarbonization plans focuses on increasing renewable energy production, reducing greenhouse gas emissions arising from our operations and business, and to increase the resilience to the impacts of climate change. 

Impact on the sustainability topic
The development of our projects has an impact on biodiversity as it involves an intrusion into nature when land is claimed. Meanwhile, renewable energy production enables land used for energy mining to be reclaimed.

Renewable energy enables the avoidance of fossil energy and thereby mitigating climate change - one of the main drivers of biodiversity loss. By considering biodiversity in the localization and design of OX2's projects, it is possible to enhance nature values in the area.

The sustainability topic’s impact on our business
How nature is affected by our projects and the work we do to manage this is something that affects our relationship with the local community and landowners as well as our permits.

What we do
We aim to contribute to halting and reversing biodiversity loss. OX2’s biodiversity strategy guides us in our work towards our set target to develop solar and wind farms with a net positive impact on biodiversity by 2030.

Impact on the sustainability topic
As an employer, OX2 provides the working environment and culture for employees. The work environment and culture at OX2 influence how long our employees stay at OX2, to what extent they would recommend OX2 to others, the diversity of the workforce and to what extent they feel included, as well as their health, safety and wellbeing.

The sustainability topic’s impact on our business
Having the best individuals in multi-faceted, inclusive and high-performing teams with clear mandates will always be key to our success. Research shows that inclusion and diversity enhance creativity, well-being, motivation, productivity, innovation, effective problem solving and lower sickness absence. To remain successful, we must be and be perceived as an attractive employer and safeguard our employees' health and safety, as well as a diverse and inclusive workforce.  

What we do
OX2 aims to be an attractive employer that meets the expectations of current and future employees, enhance physical and social well-being at the workplace and to uphold a gender balanced workforce (40/60). 

Impact on the sustainability topic
Our business depends on goods and services from a global supply chain. Activities throughout our supply chain can have impacts on human rights, labor rights, and job opportunities. A high level of risk awareness is required to ensure the transition to a green and climate-neutral economy that is fair, inclusive, creates decent work opportunities.

The sustainability topic’s impact on our business
The occurrence of undesirable impacts to workers in the value chain can cause supply chain disruptions, fines and damage to our business relationships.

What we do 
OX2 wants to avoid directly causing or contributing to negative consequences for the workers in the calue chain and strives to prevent or mitigate negative impacts linked to our supply chain.

Impact on the sustainability topic
Our business depends on goods and services from a global supply chain. Activities throughout our supply chain can have impacts on human rights, and the environment. A high level of risk awareness is required to ensure the transition to a green and climate-neutral economy that is fair, inclusive, respects people's sovereignty over natural resources and safeguards the human rights of affected communities and indigenous peoples. OX2’s community involvement focuses on the project’s impact on the local community, such as land leases, job opportunities and impacts on the local community’s activities in the project’s area.

The sustainability topic’s impact on our business
The occurrence of undesirable impacts to communities can cause supply chain disruptions, fines and damage to our business relationships. The social acceptance of our projects is key for project realization.

What we do 
OX2 wants to avoid directly causing or contributing to negative consequences for the environment and human rights and strives to prevent or mitigate negative impacts linked to both our supply chain and the project area. We see that local knowledge of the area is the key to a successful project that does not come at the expense of nature, which is why we look for local collaborations when developing projects.

Impact on the sustainability topic
Business ethics is about taking moral and ethical considerations into account in decision-making and avoiding unethical actions that could harm the company's reputation or cause harm to society. It also includes complying with laws and regulations governing business operations as well as striving for long-term sustainability and profitability rather than short-term profit.

The sustainability topic’s impact on our business
Business ethics is important for creating trust and a positive image for companies and organizations.

What we do
OX2 has zero tolerance towards bribery and corruption. In order to implement the company's strategy, we must act in a business ethical manner to avoid unethical actions that could prevent compliance with the strategy.