Storebrand asks suppliers to become climate neutral

All suppliers of products and services to Storebrand will have to report their own emissions. The five year goal is that all our suppliers will be climate neutral by 2025.

Storebrand wants to contribute to lower emissions in all parts of the business, including procurement. Today we launched our new framework for annual follow-up and evaluation of suppliers and set concrete climate goals covering NOK 2.6 billion.

We will work together with our suppliers to contribute to work towards a low-emissions society. The work starts immediately.

– We now encourage all suppliers to get an overview of their own emissions and make a clearly defined plan to reduce them. We ask for documentation on strategy, climate emissions and diversity, and ask how suppliers use established certifications and systems, says Odd Arild Grefstad, CEO, Storebrand.

As the largest private asset manager in Norway, sustainability is integrated into all investment decisions we make. As for investments, our main approach on procurement is collaboration with companies and partners to contribute to the green shift. Neither divestment nor ended contracts is a consequence we wish for.

– With these new requirements, we are strengthening our efforts to take climate action within our own operations. We will work together with suppliers to contribute to improvements in their value chains, says Grefstad

We do not see this as a short-term project, but a long-term commitment to work together with our suppliers to achieve real-world reduction in carbon emissions.

Storebrand has defined four steps our suppliers should follow:

–Measure all greenhouse gas emissions

–Set specific goals to reduce greenhouse gas emissions

–Reduce emissions as much as possible through your own actions

–Compensate for emissions that cannot be avoided in the short term

Among Storebrand's largest partners are Polygon Norway. The company delivers property damage restoration.

– The challenge of becoming climate neutral is completely in line with our strategic plans both nationally and at a group level. Storebrand's challenge contributes to the fact that we must establish clearly defined action plans. It helps us speed up the launch of ambitious goals and measures, says Kai Andersen, CEO of Polygon Norway.

Polygon is now working on changes in all parts of the business, everything from the choice of materials, to the conversion to an electric car fleet when it is available in the market, and the involvement of subcontractors and partners..

– We are currently mapping our total climate footprint in Norway, this will form a basis for the measures that must be launched over the next few years, says Andersen

Please find more information about our approach here