Climate change is one of the greatest challenges of our time and Bure is determined to be part of the solution. We are committed to reducing our own climate emissions while also driving progress in our portfolio companies. We actively work to reduce our own climate footprint while accelerating the transition within our portfolio companies.
For us this means taking a comprehensive approach to climate impact, including setting clear emission reduction targets, improving energy efficiency, transitioning to renewable energy and promoting circular business models that minimize environmental impact over time. This focus area is about decarbonization, phasing out emissions, strengthening energy efficiency and advancing circular principles. We support the goals of the Paris Agreement and recognize that achieving a 1.5-degree pathway requires action now. We encourage all our portfolio companies to set climate targets aligned with the guidelines of the Science Based Targets initiative.
We take responsibility for our own climate footprint. Our target is:
We actively prioritize climate-friendly choices in our operations, use 100% renewable energy and continue to reduce emissions from business travel and heating.
We want our climate responsibility to extend throughout the value chain. Therefore we have set the target to:
In the portfolio we focus on the areas of greatest impact. Bure has set the target to reduce absolute Scope 3 emissions, which largely consist of portfolio companies’ own emissions, by 55% by 2030 compared with the 2023 baseline.
To accelerate this development we encourage all holdings to align with the Paris Agreement and to set science-based climate targets (SBTi) where relevant. In 2024 two of our larger holdings, Mycronic and Vitrolife, joined initiatives aligned with the Paris Agreement, which means they are now actively working to cut emissions in accordance with science-based targets. During the year Mycronic also had its climate targets reviewed and approved by SBTi, an important validation of the company’s climate ambition.
The 2024 results give us reason for optimism and renewed commitment. Thanks to green initiatives in our portfolio companies, total greenhouse gas emissions (Scope 1+2) from the portfolio were reduced by 36% compared with 2023, even as combined revenues grew over the same period. This demonstrates that growth and lower emissions can go hand in hand when the right measures are implemented, such as switching to renewable electricity and improving energy efficiency. We also closely track carbon intensity, emissions per SEK of revenue, which improved by 42% during the year, reflecting greater resource efficiency.
Looking ahead we will continue driving climate action through close dialogue with our companies and ongoing monitoring of their climate data.
1) Scope 1 pertains to direct emissions from own operations (e.g., emissions from production-related combustion). In Bure's case, these emissions remain at 0 for 2023 and 2024.
2) Scope 2 pertains to energy purchased for Bure’s operations, including electricity, heating, and cooling. The table shows location-based emissions. Data for 2023 has been adjusted due to the increased availability of data for heating and cooling.
3) Scope 3 includes Bure’s own business travel as well as the portfolio companies' Scopes 1 and 2 emissions, based on Bure's ownership stake. The table shows a 34% reduction in Scope 3 emissions (from 2,647 tonnes CO2e to 1,756 tonnes CO2e) between 2023 and 2024. Of these amounts, Bure's internal emissions (mostly for business travel) account for 63 tonnes CO2e in 2023 and 101 tonnes CO2e in 2024, with the remainder attributable to portfolio companies. The portfolio companies' Scope 1 and 2 emissions are comprised of market-based emissions.
All emissions are calculated in accordance with the GHG Protocol.