Our Climate Impact
We have ambitious targets to reduce emissions in line with the 1.5°C trajectory. This involves measuring the climate impact from Kinnevik’s own operations and portfolio, as well as helping our companies to set targets in line with science and to define clear pathways to reach those targets.
Climate targets
Kinnevik has two climate targets to reduce greenhouse gas (”GHG”) emissions and to align our portfolio and organization with a low-carbon economy:
- Reduce greenhouse gas emission intensity in Kinnevik’s portfolio by 50 percent by 2030, with 2020 as base year (scope 3 category 15 Investments)
- Reduce greenhouse gas emissions from Kinnevik’s operations by 50 percent by 2030 and by 90 percent by 2050, with 2019 as base year (scope 1-3 excluding category 15 Investments)
Emissions from Kinnevik’s operations were 532 tCO2e in 2019 and 450 in 2025, a decrease of 16 percent. The fulfillment of the portfolio target for 2025 will be published in our Climate Progress Report in June 2026 (last year’s report is available on our website.
69 percent of Kinnevik’s 2025 emissions excluding the portfolio were related to business travel. We believe being physically present is an important part of our active ownership model and that the benefits of driving our sustainability agenda on site need to be balanced against the negative impact of business travel. Our ambition is not to stop travelling, but to increase travel efficiency.
Kinnevik are official supporters and have implemented the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The most recent report is available on our website.
Greenhouse gas emissions in our own operations
(scope 1-3 excluding category 15 Investments)
Our GHG disclosure is carried out in accordance with the GHG Protocol Corporate Accounting and Reporting Standard. We have not included any carbon credits in our GHG calculations throughout the value chain, and Kinnevik does not use any internal carbon pricing schemes. Since 2020, we have increased the scope of reporting for several categories and restated the historical data as needed.
Climate calculations are made using an operational approach, and scope 2 calculations are made using a market-based method. Using a locationbased method, Kinnevik’s own emissions for 2025 were 458 tCO2e. Kinnevik’s disclosure of own emissions is subject to a limited assurance review, see page 31.
Kinnevik’s total energy consumption in 2025, excluding the portfolio, was ca 175,000 kWh.
| Kinnevik’s GHG emissions (tonnes CO2e) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Scope 1 - Total | 5.3 | 7.7 | 4.4 | 7.1 | 10.7 |
| Company-operated vehicles | 5.3 | 7.7 | 4.4 | 7.1 | 10.7 |
| Scope 2 - Total | 5.5 | 3.2 | 4.8 | 0.1 | 0.1 |
| Energy | 5.5 | 3.2 | 4.8 | 0.1 | 0.1 |
| Scope 3 - Total | 109.4 | 386.1 | 353.5 | 410.7 | 439.0 |
| Company-operated vehicles | 2.0 | 2.4 | 1.3 | 1.7 | 2.6 |
| Energy | 1.3 | 0.8 | 4.2 | 6.7 | 5.1 |
| Purchased goods and services | 23.2 | 53.7 | 71.9 | 119.9 | 117.3 |
| Business travel | 82.9 | 318.6 | 270.7 | 280.0 | 311.2 |
| Employee commuting | 0.0 | 4.0 | 4.6 | 2.4 | 2.8 |
| Upstream leased assets | 0.0 | 0.2 | 0.1 | 0.0 | 0.0 |
| Downstream leased assets | 0.0 | 6.5 | 0.7 | 0.0 | 0.0 |
| Total | 120.2 | 397.0 | 362.7 | 417.9 | 449.9 |
| Per FTE | 3.0 | 8.8 | 7.9 | 8.9 | 9.4 |
| Per square metre office space | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 |
Climate Progress Report
In this report we follow up on the fulfilment of Kinnevik's GHG emissions intensity target for the portfolio.Climate progress report 2024
Climate-related Financial Disclosures
Adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) enables us to identify, assess, and manage our most significant climate-related risks and opportunities. Discover how Kinnevik and our portfolio may be impacted under different future climate scenarios in our latest TCFD report.
