Sustainability as a business
For Bulk, sustainability is a key investment criteria considering the long-term impact of business decisions. All business units are taking steps to minimize negative effects on the environment and society, scaling the positive and ensuring profit through purpose.
The goal of achieving net zero emissions is a key part of efforts to address climate change and limit global warming to well below 2 degrees Celsius above pre-industrial levels, as set out in The Paris Agreement on Climate Change.
In May 2021, we committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner – and announced our interim goals to help navigate the transition as we recognise that the next 10 years will by far be the most important in reaching these goals.
Bulk has conducted assessment on climate risks and opportunities following the Taskforce on Climate-related Financial Disclosures (“TCFD”). By quantifying risks and opportunities, we can set the right actions to avoid negative impact on our assets and scale opportunities on the pathway towards net zero.
Our locations in the Nordics provide us with the advantage of renewable power and a stable energy grid. Renewable power constitutes nearly 100 percent of the energy in Norway. As a result, Bulk’s emissions in scope 1 and 2 are very low. The majority of Bulk’s emission derive from activities in our supply chain and is reflected in scope 3 emissions. With the Bulk Module our scope 3 for construction of real estate is already good compared to the construction industry. Bulk is on par with emissions from construction of digital infrastructure industry, and with the scaling of our solutions over the coming years, it will be our main focus to reduce the impact from scope 3 together with our suppliers.
The world is facing a growing demand for safe and resilient infrastructure, while physical environments are becoming increasingly hostile. To address these conflicting trends, Bulk has conducted a climate analysis based on recommendations of the TCFD: