Sustainability Strategy & Targets

Kinnevik’s sustainability strategy is based on the UN 2030 Agenda for Sustainable Development and balances three dimensions of sustainability – environment, society and governance (“ESG”)

Kinnevik’s sustainability strategy is a framework set up to focus our resources on the most relevant environmental, social and governance issues, drive performance and to engage internal and external stakeholders. The framework consists of Kinnevik’s material topis, sustainability targets, objectives and KPIs. Kinnevik addresses sustainability on to levels Kinnevik: A Responsible Company and Portfolio: Our Active Ownership.

Our material topics are:

  • ENVIRONMENT: Environmental Responsibility and Reduced Climate Impact
  • SOCIETY: Social Equality and Good Corporate Citizenship
  • GOVERNANCE: Sound Governance Structures and Economic Growth


Sustainability Report 2020

ENVIRONMENT

Environmental Responsibility and Reduced Climate Impact

Kinnevik

Our Target

  • Net zero greenhouse gas emissions from Kinnevik’s operations
    excluding the portfolio from 2020 and onward


Our Objectives

  • Reduce greenhouse gas emissions from Kinnevik’s operations
    excluding the portfolio to as close to zero as possible
  • Offset unavoidable emissions through a permanent carbon dioxide removal program


Targets Fulfilment 2021

  • Greenhouse gas emissions from Kinnevik’s operations excluding the portfolio during 2021 are in line with the corresponding emissions in 2020. The emissions during 2021 and 2020 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
  • Kinnevik has ordered and paid to have our 2021 emissions, excluding emissions from the portfolio, amounting to 92 tonnes of CO2e, permanently removed through Climeworks’ direct air capture and storage solution


Read more here >

Portfolio

Our Target

  • 50% reduction in greenhouse gas emission intensity in Kinnevik’s portfolio by 2030 compared to 2020


Our Objectives

Ensure all our portfolio companies:

  • Measure their emissions in Scope 2 and relevant parts of Scope 3 according to the GHG Protocol
  • Set relevant climate targets across their operations and value chains to align with the 1.5°C pathway
  • Define a roadmap with bold visions to reach the targets


Targets Fulfilment 2021

  • As emission data for 2021 for our portfolio companies that report on emissions is not yet available, emission intensity change for the portfolio will be published in the Sustainability-Linked Financing Framework Climate Progress Report that will be published before 30 June 2022


Read more here >

SOCIETY

Social Equality and Good Corporate Citizenship

Kinnevik

Our Targets

  • 40/60 gender composition in Kinnevik’s Management Team, Investment Team and Corporate Team by 2022
  • All Kinnevik’s managers are measured on inclusive leadership and the results are linked to their remuneration


Our Objectives

  • Attract, recruit and retain the most talented employees
  • Be an attractive employer with diversity & inclusion, well-being and personal development in focus
  • Community outreach engagement through Reach for Change


Targets Fulfilment 2021

  • Share of women in Kinnevik’s Management Team has increased from 43% at year-end 2020 to 50% at year-end 2021. For the Investment Team, the share has increased from 23% to 38% at year-end 2021. Per March 31, 2022, the share of women in the Investment Team was 47%. The Corporate Team ended the year with 73% women
  • Our four overarching D&I targets have been incorporated into Kinnevik’s overall corporate objectives for 2021, thereby tying them to the remuneration of our teams

Read more here >

Portfolio

Our Targets

  • At least 10% of the capital invested on an annual basis by Kinnevik into new companies should be invested in female founded or led companies

  • Follow-on investments are conditional upon clear diversity and inclusion progress


Our Objectives

Ensure all our portfolio companies:

  • Build responsible business relationships with suppliers
  • Attract and retain the most talented employees
  • Have committed community outreach programs


Targets Fulfilment 2021

  • Since May 2019, 20.5% of the value of Kinnevik’s investments into new companies has been invested in female founded companies. During 2021, 24% of Kinnevik’s investments into
    new companies was invested in female founded companies
  • All potential follow-on investments are being evaluated on D&I performance as part of the EIC process


Read more here >

GOVERNANCE

Sound Governance Structures and Economic Growth

Kinnevik

Our Target

  • Deliver an annual total shareholder return of 12-15% over the business cycle


Our Objectives

  • Maintain sound corporate governance structures including risk management and compliance in Kinnevik’s own operations


Targets Fulfilment 2021

  • Kinnevik’s total shareholder return (”TSR”) amounted to 29% for 2021. The five-year annualised TSR was 30% and the ten-year annualised TSR was 23%, per 31 December 2021

Read more here >

Portfolio

Our Target

  • Deliver an annual total shareholder return of 12-15% over the business cycle
  • 5 percentage point improvement in annual average ESG score across portfolio


Our Objectives

Ensure all our portfolio companies:

  • Have sound governance risk management and compliance structures in place
  • Achieve long-term sustainable economic growth, i.e. reach Kinnevik’s annual return target as well as our sustainability targets


Targets Fulfilment 2021

  • Kinnevik’s economic performance is directly influenced by the economic performance and the valuation of our investee companies, and therefore economic performance is only
    covered in this report on a Kinnevik level
  • In 2021, the annual average ESG score increased by 12 percentage points on a comparative basis

Read more here >

The UN's Global Goals Kinnevik contributes to:

GOAL 5 Gender equality
GOAL 8 Decent work and economic growth
GOAL 12 Responsible consumption and production
GOAL 13 Climate action  
GOAL 16 Peace, justice and strong institutions  
GOAL 17 Partnerships for the Goals

Organisation

Kinnevik’s Board of Directors is responsible for our overall strategy, including how sustainability is integrated into our value creation. To assist the Board in monitoring the implementation of our sustainability agenda Kinnevik has established an Audit & Sustainability Committee, appointed by the Board of Directors. To drive the integration on a day-to-day basis, at a Kinnevik level and in relation to our investee companies, Kinnevik has established a dedicated Sustainability Team. The Sustainability Team, together with the Investment Team, is responsible for implementing the Kinnevik Standards across our portfolio companies and for driving our sustainability agenda.

 

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