We all need to take responsibility for the challenges that exist in our society with climate change, violations of human rights, corruption and overexploitation of natural resources. These issues are essential to governments, customers, employees, investors and to the long-term relevance of companies.
Pamica operates based on a philosophy called Great Companies. The philosophy is a foundation for responsible business development and provides the conditions for the companies to create value for customers, investors and stakeholders with care for employees and sustainable development. All companies within the group carry out their own sustainability work and Pamica supports the companies by being a responsible owner and conducting active board work.
International frameworks, EU regulations, Swedish laws and regulations form the basis of Pamica’s governance. Including the OECD’s guidelines for multinational companies and corporate governance, the UN’s Global Compact’s ten principles where the UN’s conventions on human rights and the ILO’s conventions on the working environment.
Pamica’s sustainability focus is based on the dual materiality analysis carried out in 2023, which identified the most significant sustainability aspects for Pamica based on 1) relevance to Pamica’s and our subsidiaries’ stakeholders and 2) impact on the environment, society and the economy.
The most essential aspects have been grouped into three overall focus areas:
Reduce our environmental impact and promote circular solutions
Pamica’s subsidiaries have their own company-specific goals to reduce environmental impact. Key figures for greenhouse gas emissions according to scope 1 and 2, energy consumption (MWh) per energy type and various waste categories are collected for all companies. In 2024, a mapping of the group’s greenhouse gas emissions will take place based on scope 3.
Group goal
- In 10 years, Pamica’s portfolio companies have halved CO2e emissions in relation to inflation-adjusted turnover in Scope 1 and Scope 2.
- By 2025 at the latest, Pamica has set a reduction target for Scope 3 CO2e emissions.
Comment:
- The target is based on parts of the Paris Convention’s framework and is inspired by the Science Based Targets Initiative’s guidelines for financial institutions.
- Intensity targets are chosen as it is part of Pamica’s business concept to make additional acquisitions.
- Follow-up takes place per platform company and aggregated weighted on CO2 emissions.
- For existing platform companies, the ambition to halve their Co2e emission intensity in 10 years with a base year of 2023 applies.
- New platform acquisitions are included in the ambition to halve their emissions intensity from their first full financial year as part of the Pamica Group, which will also be their base year.
Sub-goals for all companies
Company-specific targets for reducing CO2e emissions in relation to inflation-adjusted turnover must be set based on the 2023 data collection of scope 1 and 2.
- Until 2025, existing platform companies have a base year for Scope 3.
Comment:
- New platform acquisitions must set the base year for Scope 3 no later than the second financial year as part of the Pamica Group.
- Additional acquisitions made to existing platform companies are included in the platform company’s ongoing target monitoring from the date the acquired subsidiary is part of the financial reporting.
Ensuring healthy and inclusive workplaces
In Pamica, we have over 2,000 employees who contribute to our customers with their different abilities, different social backgrounds, different languages and different ages. Diversity, equality and inclusion is a long-term effort in which Pamica has started important prerequisites. All companies have gender equality targets at all levels to increase the distribution between men and women in work groups, management groups and boards. In 2023, a first group-wide employee survey, the Pamica Indicator, was carried out to monitor the work environment, the occurrence of discrimination, bullying, harassment and abusive discrimination, leadership and employee satisfaction. The follow-up is carried out annually and gives the companies a tool to work preventively with work environment efforts, leadership development and to promote equal rights. Each company within the group sets goals in its business plan to follow up that improvements take place. NMI stands for employee satisfaction index and in addition to work environment factors, the employee’s work situation and leadership, commitment and recommendation rate are also measured.
Group goal
- In 2028, Pamica as a group has an even (at least 40/60) gender distribution at all levels.*
- All Pamica Group companies measure the employee index (NMI).
*Equal gender distribution is defined as a gender distribution that is at least 40/60 in the ratio men/women or vice versa. Levels that are followed up are the levels boards, management groups and employees.
Comment:
- 40/60 in ratio men/women or vice versa.
- Levels that are followed up are boards, management groups and employees. Follow-up takes place aggregated at group level for the companies.
- NMI stands for employee satisfaction index and consists of three parameters: how satisfied the employee is with the workplace, how well the workplace meets the employee’s expectations, how the workplace is perceived compared to the ideal workplace.
Sub-goals for all companies´
- The companies’ boards have a more even distribution of genders after upcoming general meetings.
- All companies must improve results in the employee survey.
Conduct responsible corporate governance throughout the value chain
Pamica’s board establishes guidelines and policies and has assigned Pamica’s CEO and management to be responsible for the strategic sustainability work and ensure implementation and follow-up in the companies that are part of the group. All company boards follow up the companies’ work with sustainability integrated into regular governance, annual reports and reporting.
Sustainability data is collected, followed up, analyzed and forms the basis for the next planning period and strategies.
In 2024, a group-wide code of conduct for suppliers (supplier code of conduct) will be implemented, which has been developed to ensure that all companies within Pamica Group work proactively and systematically with their suppliers.
Group goal
- By 2026, all portfolio companies have implemented systematic supplier work to ensure compliance with the supplier code.
Comment:
- Systematic supplier work means that all companies in Pamica have an established routine for screening, setting requirements, risk assessment and follow-up that is implemented for the entire supplier chain
Sub-goals for all companies
- The suppliers that make up 80% of total spend have signed the Supplier Code in 2024.
- Inventory to identify sustainability risks in the supply chain started in 2024.
- Self Assessment Questionnaire process for high-risk suppliers initiated in 2024.
Comment:
- Inventorying suppliers to identify those with a high risk means that Pamica’s portfolio companies do an analysis of risks linked to geography & industry.
- The Self Assessment Questionnaire is a self-assessment form that covers all areas of sustainability and provides additional information on where Pamica should direct its efforts for risk minimization in the supply chain, through, for example, supplier inspections or changing suppliers.