ESG-strategy of a renewable energy company for entering the stock markets

Elementum Energy has set the goal to enter international stock markets, certify its business processes and take a confident position in the Sustainalytics rating.
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Service:
ESG-strategy
Service: ESG-strategy
Result:
During the year, Elementum Energy developed and implemented:

10 policies
19 procedures
5 programs & plans
12internal regulatory documents
10

policies
19

procedures
5

programs & plans
12

internal regulatory documents

Sustainable development is an integral part of the company's management for the board of directors and management with the appropriate organizational structure.

Elementum Energy has taken a position on its contribution to the Sustainable Development Goals. And they became signatories to the UN Global Compact in 2021.
About the company
Elementum's core business is the construction of solar power plants in Ukraine with a lifespan of approximately 540 MW. Recently, the company has expanded its activities in the field of wind energy and is actively implementing other renewable energy projects in Central and Eastern Europe, the Middle East and Africa.
The project consisted of 4 stages:
The project consisted of 4 stages:
1 audit of current processes

2 comparison of environmental, social and management activities of the company with the best international practices (PR EBRD, PS IFC, ISO 14001, ISO 39001, ISO 45001)

3 ESG - risks assessment ( *The ESG assessment was conducted in accordance with IFC PS, EBRD, UNGP, Sustainable Development Goals, EU directives, best available techniques and technologies (BAT), and following the recommendations of the Global Reporting Initiative (GRI) standards.)

4 roadmap development to implement ESG-strategy
1
audit of current processes
2
comparison of environmental, social and management activities of the company with the best international practices (PR EBRD, PS IFC, ISO 14001, ISO 39001, ISO 45001)
3
ESG - risks assessment
4
roadmap development to implement ESG-strategy
*The ESG assessment was conducted in accordance with IFC PS, EBRD, UNGP, Sustainable Development Goals, EU directives, best available techniques and technologies (BAT), and following the recommendations of the Global Reporting Initiative (GRI) standards.
After that, together with the company's management, we started building the ESG strategy by the following stages:
After that, together with the company's management, we started building the ESG strategy by the following stages:
Step one
Strategic session with identification of key areas of sustainable development of the company based on 17 UN Sustainable Development Goals and ESG criteria.
Strategic session with identification of key areas of sustainable development of the company based on 17 UN Sustainable Development Goals and ESG criteria.
Step two
Development of procedures/policies and adjustment of ESG-processes:
Development of procedures/policies and adjustment of ESG-processes:
Environmental component
  • Climate change and GHG adaptation policy;
  • Environmental and Social Management System (ESMS) according to ISO 14001;
  • Biodiversity policy;
  • Sustainable policy with contractors;
  • A decision-making matrix: risk assessment of new projects.
Social component
  • Human rights policies and procedures;
  • Occupational safety management system in accordance with ISO 45001 and ISO 39001;
  • Program and plan of interaction with stakeholders;
  • Analysis and voluntary resettlement program for risk projects.
Corporate governance 
  • Responsibility matrix;
  • Official statements: tax policy, political involvement;
  • Formation of monitoring and internal reporting in accordance with ISO standards.
Step three
Preparation and writing of a non-financial report in accordance with the requirements of the UN Global Compact.
Preparation and writing of a non-financial report in accordance with the requirements of the UN Global Compact.

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