ESG is fundamental to ABP’s business strategy. Good corporate governance and corporate management reduces business-related risk, while enabling the Company’s resources to be utilized in an effective and sustainable manner. From a strong focus on health, safety and environment (HSE), ABP works actively to address climate and environmental risks and opportunities. It is important for the Company to maintain a constructive dialogue with its main stakeholders, providing valuable feedback and enabling the Company to continue to improve, to build trust and to enhance its reputation.
Asset Buyout Partners («ABP or the Company») is a responsible infrastructure and real estate owner and continuously assesses how the company assets can contribute to a sustainable economy. ABP works actively to address climate and environmental risks and opportunities. This includes investments in energy efficient properties and infrastructure, facilitate and promote technological development and promotion of circular solutions.
To support its industry diversification, ABP has participated in the launch of “Greenspot Mongstad”, a collaboration between the largest owners at Mongstad Industrial Park and local and national authorities to lay the foundation for new projects to enhance the sustainable industrial development at Mongstad.
ABP has several projects and initiatives supporting its focus on sustainability. The installation of shore-to-ship power supply at Mongstad, where ABP was one of the initiators, has significantly reduced greenhouse gas emissions and local air pollution from ships docking. Together with key tenants, ABP now considers expanding the capacity and functionality of the shore-to-ship power facility at Mongstad.
ABP maintains regular dialogue with its tenants regarding initiatives for more environmentally friendly and energy efficient solutions. New lease contracts contain provisions for annual environmental meetings between ABP and the tenants where environmental initiatives and energy optimization measures at the properties are discussed. ABP is currently working on projects to install solar panels, sea-based or geothermal heating systems, and LED lighting in several new and existing buildings. The company is also looking at installing a system for energy monitoring in several buildings, and in 2019 initiated pilots to identify selected industrial buildings in its portfolio for certification under the “BREEAM In-Use” standard. At the same time, ABP is working with its banks to explore separate financing tranches for green initiatives linked to energy efficiency.
Our contribution to selected UN’s Sustainable Development Goals
As a participant in the Norwegian property market, ABP believes that it has an important role to play in supporting Norway’s contribution to UN’s Sustainable Development Goals (SDGs). ABP has reviewed its ESG strategy against the SDGs to highlight where the Company directs its focus. The Group has decided to focus on the following three SDGs: SDG 9 - Industry, Innovation and Infrastructure, SDG 13 - Climate action and SDG 8 - Good jobs and economic growth. The Company’s priorities and focus areas are illustrated in the figure below: