Sustainability

At Nel, sustainability is an integral part of our identity. Our vision is to empower generations with clean energy forever. This vision is driving our ambitions and priorities.

Key highlights for 2020

At Nel, sustainability is an integral part of our identity. Our vision is to empower generations with clean energy forever. This vision is driving our ambitions and priorities. Combating climate change is high on our corporate agenda and we always incorporate sustainability into our strategic decision-making processes.

Energy intensity

MWh/MNOK revenue

14.7

CO2 intensity

tCO2e/MNOK revenue

1.9

FTE

Full-time equivalent

384

TRIF

Total recordable injury frequency

11.2*

* Total Recordable Injury Frequency (TRIF) is calculated per million hours and is based on 600,000 working hours for Nel in 2020.
TRIF covers 95% of the total employee base. The remaining 5% includes the corporate headquarters which has a TRIF of 0.

Where we are

Nel consists of electrolyser production facilities in Norway and Connecticut, USA, and one fueling station production facility in Denmark, supported by headquarters in Norway.

Markets we serve - a purple world

In total, we have delivered over 3500 electrolyser solutions to over 80 countries, and more than 110 H2Station® solutions delivered, or in progress to be delivered, to 13 countries.

Nel has a sales and support network with global reach, including service organizations close to the main markets for fueling stations – the U.S. West Coast, South Korea, and Northern Europe (based out of Denmark).

Our goals

Nel supports the UN Sustainable Development Goals and we strive to document the actions we are taking to meet them. Presented in 2015, the 17 goals were developed to address the most prominent sustainability concerns we are facing as a society at large.

Selected UN Sustainable Development Goals

The Sustainable Development Goals are the most unifying and universally accepted set of goals and aspirations that are to be met by 2030, to protect our planet and the people who inhabit it. Even though we support all of the sustainability goals outlined by the UN, we have chosen to focus on a few where we have determined that we will have the greatest impact.

Our selected goals are:

At Nel, we provide clean energy alternatives to a vast range of industries and applications. In doing so, we contribute to increasing the share of re-newables in the total energy consumption. Our main contribution towards Goal 7 was unveiled at our first capital markets day, where we outlined our strategic ambitions to 1) capitalise on the rapid development in the industry by an extensive expansion of our organizational capabilities, and 2) an ambitious target cost of 1.5$/kg that will significantly decrease total cost of ownership and consequently increase the applicability of our solutions.

All Nel sites have management systems in place that safeguard our employees’ health and safety. Ensuring that employees work in a safe and healthy environment is the key to any successful business. Nel aims to provide a workplace for everyone that is free of incidents and injuries, and to promote a culture of hazard identification and awareness through incident reporting and self-accountability. We have set a QHSE target of zero incidents, including for sites with Nel equipment. Further, we have a zero-tolerance for discrimination of any kind, and grievance mechanisms are present if such a case should emerge.

Our vision is to empower generations with clean energy forever. Our business model is built on facilitating the transition towards a more sustainable society with our fully-integrated solutions to produce, store, and distribute hydrogen from renewable energy.

EU Taxonomy

An initial assessment of the EU Taxonomy indicates we are well-positioned for achieving compliance with its regulations. Manufacturing of electrolysers and fueling stations has been classified as “substantially contributing to climate change mitigation” and is therefore classified similarly to renewable energy. A positive outlook is important for future initiatives in sustainable activities. The requirements of the taxonomy state that a sustainable activity shall:

Identifying material topics and stakeholders

Material topics are identified by assessing relevant issues that are of importance to key stakeholders and how these issues impact Nel’s operations. Internal processes reviewing Nel’s activities revealed the following key stakeholders:

In early 2020, Nel conducted an extensive materiality analysis through a series of inter-views with the above-mentioned key stake-holder groups. The findings of this process were then converted into a materiality matrix, outlining the key ESG topics for Nel.

As reflected in our core values, we consider product safety, as well as occupational health and safety, as our most material topics. Safety concerns shall be addressed in every decision we make and every stakeholder we impact. We place safety above all. Our approach to safety extends to every stakeholder and shall not be overlooked.

In this matrix, we outline three main categories: Environmental, social and governance factors, which are represented by the following colour scheme:

Based on the findings, we developed the following materiality matrix: