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HydrogenPro : ESG strategy | MarketScreener

Reporting standards

HydrogenPro AS follows several reporting standards to capture all relevant KPIs portraying the most accurate picture of our ESG footprint.

We respect and support the UN Sustainable Development Goals (SDG). The Company has evaluated, prioritised, and adopted selected goals and chosen four SDGs as our guidelines for sustainable business conduct. These are:

  • Nr 7: Affordable and clean energy
  • Nr 8: Decent work and economic growth
  • Nr 12: Responsible consumption and production
  • Nr 13: Climate action

Other reporting standards that HydrogenPro have committed themselves to are the EU Taxonomy, the GRI standard and the TCFD. We believe this is important to create quality-assured, comparable data on sustainability for our stakeholders’ benefit.

Environmental Social Governance (ESG)

Environmental and social governance is an increasing area of interest for companies and stakeholders. We wish to have a transparent relationship with our stakeholders, as shown in our annual report for 2021, which has an integrated ESG report. Below, we briefly summarise our active measures.

Environment

As we formalise systems and procedures, we have implemented and adapted our ERP system to structure purchasing and supplier- and material management. By adapting the system to consider sustainability matters, we achieve better data insight and management opportunities to achieve economies of scale and take actions towards greater sustainability in our value chain.

A part of our strategy is a carbon-neutral supply chain. Several components of our products can be recycled or taken into circularity. We re-use steel elements in the electrolyser during overhaul. We also ensure compliance with local regulations and legislation wherever we operate. This includes governmental environmental approval, where a third party and we evaluate all plans for production, substances, hazards, materials, chemicals, and waste management systems.

Furthermore, developing new products or services through R&D and innovation presents positive ESG opportunities for the Company. Read more about the latest projects in our news section.

Social

Our recruitment policies are inclusive irrespective of gender, ethnicity, and anything else. However, our rate of females is below our long term-objective, coming in at 15% for 2021. As we ramp up our recruitment initiatives to build the Company for the future, our ambition is to aim for 25% females by 2025

In Denmark, our connection and engagement with the Aarhus University Department of Biological & Chemical Engineering is a two-way positive impact collaboration. Students work at HydrogenPro for training, and education and, at the same time, contribute to our research, development (R&D) and operation.

At Herøya, we engaged with local communities and stakeholders, conducting assessments before establishing hydrogen production and a hydrogen filling station outside the industry park. We mitigated negative impacts on the environment and remedied the potential risks. HydrogenPro engages with the local university, University of South-Eastern Norway, Faculty of Technology, Natural Sciences and Maritime Sciences regarding research and development projects.

Governance

HydrogenPro respects the right of workers to organise in any labour union and negotiate collectively. Child- and forced labour are not tolerated at any point in our value chain-company in China. We will monitor this by close follow-ups and screenings unannounced visits to our different suppliers.

The HydrogenPro Board of Directors sets the direction for sustainability. Every part of the business frequently reports to the Board to ensure compliance at all levels. The members are carefully chosen based on their background, knowledge, and experience.

Our business is engineering, manufacturing, and handling hazardous materials – activities involving risk. By evaluating, educating (safety learning) and learning from experience, we aim to reduce the risk of incidents among our employees. Our company-wide target is, of course, zero accidents.

As a result of our increasing global presence, corruption is a prioritised focus. This requires a robust regulatory framework for the entire value chain globally. We will also engage in anti-corruption training. Our facilities are in Norway, Denmark, France, and China (2022). According to the Transparency International Corruption Perceptions Index, these countries are ranked 1, 4, 22 and 66.

You can read the ESG section from our 2021 annual report on pages 23-44.

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