E1 - Climate change
NIBE performed a double materiality assessment in accordance with CSRD for the first time in 2024. The assessment will be reviewed annually and more precise data will gradually be collected and documented. The entire organization and our value chain was included in the double materiality assessment. Knowledge obtained from stakeholder dialogs was used to describe impacts and risks. In addition, we have used information from risk management tools that describe the risks of negative sustainability impact from business relationships. We intend to reconcile our outcomes and assumptions from the materiality assessment with our key stakeholders on an ongoing basis.
NIBE Group's impact
Our products enable us to contribute in a natural way to international ambitions to mitigate climate change. Top priorities in our sustainability strategy are to develop innovative and competitive solutions with higher energy efficiency and to reduce GHG emissions.
In our own operations, we are continuously working on strategic initiatives aimed at becoming fossil-free. Currently, we have a good understanding of our own direct and indirect carbon dioxide emissions. In 2024, we continued to make changes to our facilities and operations to reduce carbon dioxide emissions and we have reported our Scope 1 and 2 direct and indirect emissions for many years. During the year, we also continued to map our indirect emissions in the value chain (Scope 3).
The transition plan is part of the business plan
Our transition plan is included in and adapted to our overall business strategy and vision, which is to provide sustainable, world-class energy solutions that contribute to a faster transition to a resource-efficient and fossil-free society. The transition plan is a work in progress and although we have made progress in the form of reductions of our GHG emissions, we still have much to do. At the end of 2024, energy mapping had been carried out for 44% of our production facilities, corresponding to around 80% of our total energy use. The transition plan has been approved by both NIBE’s Sustainability council and the Board of Directors of NIBE Industrier AB.
NIBE is not excluded from Paris-aligned Benchmarks. This means we are aligned with the sustainability criteria set out in the Climate Benchmark Standards Regulation.
