We believe that culture is the most important ingredient in driving the ESG agenda. The FSN Capital culture is built on our ethos and values and is realized through our behavior and priorities.
Building a common culture across four countries
Our greatest asset is our people. We invest significant time and resources to find and recruit talented individuals, who share our values and who fit well with our culture. We are at our very best when every member of the team actively participates in the continued development of the Firm, and when each team member contributes with what they can, to accomplish our shared goals.
To achieve this level of cooperation and teamwork, we initiated a Firm-wide program entitled Team First in 2019.
The immediate goal of Team First is to engage everyone to think deeply about our core values as an organization, to further foster trust and collaboration amongst all team members, and to ensure that we transparently communicate our guiding principles to all employees. The initiative also seeks to underscore the importance of diversity and inclusion in everything we do.
The results will serve as the basis for updating and refining our Vision and Mission to guide FSN Capital as we continue to grow and expand in the years to come.
Inclusion and Diversity
In an increasingly complex world, having teams with complementary skill sets and backgrounds are vital for success. It is well proven that diversity within a team is a key driver of long-term performance. Yet, the Private Equity industry still has a long way to go; we all need to take action.
We are committed to contributing towards UN’s SDG 5, “Gender Equality”, and have since 2017 had internal KPIs to measure our performance in terms of diversity.
In 2019 FSN Capital rolled out unconscious bias training for all employees and clarified the parental leave rights and obligations for our employees. We also put in place a specific mentoring program for all women investment professionals where they, in addition to internal mentors, are paired with external senior executives that provide an outside-in perspective.
To make ourselves even more accountable, we launched two new important initiatives in 2020 to steer us: gender diversity on portfolio companies’ boards being one of three KPIs under the ESG-linked subscription facility, and our internal Diversity & Inclusion group as part of our Team First initiative. With these new initiatives, we have defined new long- and short-term targets and identified which actions to prioritize to reach our goals. We will transparently report on our progress in our annual ESG report.
- Equality Check (unconscious bias)
- MAK (intercultural competence)
- Level20 (gender diversity in the PE industry)
- RFKennedy Compass (human rights, and racial and ethnic diversity)
FSN Capital’s climate footprint and offsetting
In line with the United Nations Sustainable Development Goal 13 “Climate action” and the Paris agreement, FSN Capital is committed to reducing its own Green House Gas (GHG) emissions.
We have implemented a tool, provided by CEMAsys, to record our GHG emissions with the objective of identifying how we most efficiently can reduce our footprint. See emission data in the table, please note that Scope 2 emissions reported are incomplete due to unavailable data.
In 2020 we decided to reduce our climate footprint also through carbon offsets. By purchasing offsets for our reported greenhouse gas emissions, we neutralize our own carbon footprint while supporting projects with a positive environmental impact.
Our 2019 and 2020 emissions finance Thor Heyerdahl Climate Park – a project aiming to restore mangrove forests in the Ayeyarwady Region of Myanmar.
We chose the Thor Heyerdahl Climate Park project as it is a climate change mitigation project as the trees will essentially remove CO2 from the atmosphere. The mangrove trees capture up to five times more CO2e compared to other trees in the rainforest.
In Ayeyarwady, only 16 percent of the original mangrove forest is still intact. The project aims to plant 300 million trees by 2023, which will biologically capture and store over 150 million tons of CO2e. The mangrove tree is the only tree on the planet that can grow in saltwater, thus protecting the coastal areas from extreme weather conditions such as cyclones, increasing seafood production and biodiversity, and preserving coral reefs and endangered species.
The project also has local benefits. Breeding, planting, and cultivating the forests create local jobs, while the network of roots filters polluted water.
Source: The Naandi Foundation
FSN Capital’s donations are allocated to individual girls, making it possible to track our actual impact since 2014.
We are proud to support the Naandi foundation. It gives FSN Capital an opportunity to impact an issue otherwise beyond our reach”