Read more in our latest Sustainability Report:
Kinnevik's greenhouse gas emissions disclosure
Kinnevik conducts a yearly greenhouse gas ("GHG") emissions disclosure quantifying our total CO2 emissions. The disclosure serves as a base from which we have set and can follow-up on our climate targets in our effort to align our portfolio to a low-carbon future. The GHG disclosure has been carried out in accordance with the GHG Protocol Corporate Accounting and Reporting Standard.
Climate targets fulfilment in 2021
In May 2020, Kinnevik set climate targets as part of our strategy for sustainable business development. Kinnevik’s emissions, excluding emissions from the portfolio, amounted to 92 (90) tonnes of CO2e, corresponding to 2.3 (2.3) tonnes per full time equivalent employee. Business travel (which consists almost entirely of air travel) accounted for 83% of Kinnevik’s total 2021 emissions excluding emissions from the portfolio.
This means that our emissions during 2021, excluding emissions from the portfolio, are in line with the corresponding emissions in 2020. The emissions during 2020 and 2021 are at a considerably lower level compared to 2019, 2018 and 2017, which is mainly the result of significantly less business travel due to the spread of the Coronavirus. In 2021 we also updated our policy for air travel.
For our 2021 emissions, excluding emissions from the portfolio, amounting to 92 tonnes of CO2e, Kinnevik has ordered and paid to have it permanently removed through Climeworks’ direct air capture and storage solution.
The largest climate impact of Kinnevik’s total emissions are in Scope 3 related to our portfolio. For 2021, Kinnevik’s total portfolio emissions amounted to 574,900 tCO2e. This includes actual emissions from our six emissions-reporting companies as well as an estimate of the scope 1 and 2 emissions from our non-reporting portfolio companies.
Between the years 2020 and 2021, the six companies in Kinnevik’s portfolio reporting emissions have on aggregate and on a value-weighted basis, decreased their emissions intensity by 11%, thus achieving our annual target of 7%. Read more in our Climate Progress Report >
Task Force on Climate-Related Financial Disclosures (TCFD)
The effects of climate change are clearly visible and will have an increasingly tangible impact on Kinnevik and our portfolio. Implementing the recommendations of the TCFD enables us to identify, assess and manage our most material climaterelated risks and opportunities. Read more in Kinnevik’s TCFD report for 2020 >
Overview of Kinnevik's GHG emissions excluding the portfolio
| Kinnevik's GHG emissions (tonnes CO2e) | 2017 | 2018 | 2019* | 2020 | 2021 |
| Scope 1 | 11 | 17 | 17 | 12 | 5 |
| Scope 2 | 15 | 9 | 7 | 5 | 6 |
| Scope 3 | 577 | 619 | 487 | 74 | 81 |
| Total | 602 | 645 | 511 | 90 | 92 |
| Per full time equivalent employee | 16.1 | 17.6 | 12.9 | 2.3 | 2.3 |
| Per square metre office space | 0.78 | 0.835 | 0.662 | 0.117 | 0.119 |
* 2019 data restated due to updated emissions factors and methodology to better align with the GHG Protocol.