Active Ownership
Maximise positive impact and implement ambitious ESG strategies across the portfolio
- 5 percentage point improvement in annual average ESG score across the portfolio
In 2022, the annual average ESG score increased by 10 percentage points on a comparative basis.
Climate Impact
Meaningfully reduce our greenhouse gas emissions and contribute to global net zero
- Reduce greenhouse gas emission intensity in Kinnevik’s portfolio by 50% in 2030, with 2020 as base year (scope 3 category 15 Investments)
Between 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 exceeding our annual target of 7%.
- Reduce greenhouse gas emissions from Kinnevik’s operations by 50% in 2030 and by 90% in 2050, with 2019 as base year (scope 1-3 excluding category 15 Investments)
Emissions from Kinnevik’s operations were 510 tonnes CO2e in 2019 and 326 in 2022, a decrease of 36%.
Diversity, Equity & Inclusion
Contribute to a more diverse, equitable and inclusive world
- Annually improve the Inclusion Score in Kinnevik’s internal inclusion survey
In 2022, we achieved a score of 76.9, a 0.2% decrease compared to last year likely due to an increased participation rate from 80% to 95%.
- 10% of new capital to be invested in female founded or female led companies
Per year-end 2022, on a two-year rolling basis, 17% of Kinnevik’s investments into new companies was invested in female founded or led companies. Since May 2019, the share is 16%.
- Make follow-on investments only in companies that make sufficient progress in relation to DEI
All potential follow-on investments are evaluated on DEI (diversity, equity and inclusion) performance as part of the EIC process. During 2022, 94% of portfolio companies have made progress on DEI in relation to their own relevant needs.
- Achieve annual incremental progress across portfolio on relevant DEI efforts
Per year-end 2022, 59% of portfolio companies have implemented DEI data collection processes (target 40%), 74% have a relevant DEI strategy (target 30%) and 74% have set DEI targets (target 30%).
For 2023, Kinnevik’s DEI targets include the 10% Female Capital Allocation (target 2), the No Follow-On Policy (target 3) and the Portfolio Progress target with new higher target levels (target 4).
Corporate Governance
Ensure sound business conduct structures and strong financial robustness
Sound corporate governance structures forms the basis of Kinnevik’s sustainability efforts. We work actively to uphold the highest ethical standards, compliance and business conduct, both on a Kinnevik level and in relation to our portfolio.