Nordian is CO2-neutral since 2019. All 13 companies in the Nordian portfolio, and Nordian HQ itself, have committed to measuring their CO2 emissions and reducing their output every year. Remaining emissions are compensated at the end of each year through a forestry partnership with LandLife.
‘This is not an intention or a long-term project, but a fact of everyday life in the Nordian group,’ says Gregor Beusmans, partner at Nordian and initiator of the program.
CO2 emissions of all portfolio companies are calculated every quarter by an independent specialist. Each portfolio company together with Nordian continually works on programs to reduce emissions. For example, through changes in the production process or switching to suppliers of green energy.
Emissions that remain after these reductions are compensated at the end of the year by planting trees in Spain and Texas. This is achieved by the Land Life Company, a firm that is specialized in CO2 reduction through reforestation.
In 2019, compensation for all emissions that occurred in the course of 2018 was paid for by Nordian. Starting in 2020, the companies in the Nordian group will pay for the compensation program themselves, providing them with an incentive to reduce emissions.
‘Worldwide, companies are the largest sources of CO2,’ says Beusmans. ‘With €320 million invested we are a mid-sized firm in the Netherlands, and a tiny factor worldwide. But we believe in the saying ‘Change the world and start at home.’ We’re doing this because we think it’s right.’
Investors have not been put off by the program, which after all – modestly – reduces the return on their investments. During the fund raising round for Fund III, most were actually very supportive.
The 13 companies in the Nordian portfolio, active in various sectors from software to agriculture to ICT, have all signed up to the project.
“We are using this Land Life initiative to confront our suppliers. Roughly 30% of the steel they supply at the moment is recycled. We are negotiating with them to bring that level up to 70%.”