K Group is increasing its purchases of Finnish wind power. K Group has signed an agreement to purchase annually some 50 GWh of electricity generated in a wind farm to be built in Northern Ostrobothnia, starting in 2023.
“The Dow Jones Sustainability Indices are one of the key sources for investors to determine the ESG level of companies. Kesko has been included in the DJSI for 16 years, which is a remarkable recognition of the scope and quality of our long-term sustainability efforts. For us, key areas of corporate responsibility and sustainability are transparency in sourcing, mitigating climate change, care for the environment, and creating wellbeing across the society,” says Mikko Helander, Kesko’s President and CEO.
Kesko’s overall score rose in the 2020 sustainability assessment. In environmental sustainability, Kesko received the highest overall score in its sector. Kesko scored particularly high in environmental reporting, climate strategy, operational eco-efficiency, and management of water related risks.
In the Economic and Social dimensions, Kesko’s score rose the most in the areas of customer relationship management, information security, and social reporting.
Other Finnish companies included in the DJSI World this year are Neste, Nokian Tyres, UPM-Kymmene, Valmet and Wärtsilä.
Companies are selected for the DJSI based on an independent sustainability assessment conducted by SAM, an investment specialist focused on sustainability investing. Each year over 3,500 listed companies are invited to participate in the assessment based on preliminary qualification, and the top 10% of companies in each industry are selected for DJSI World index inclusion.
The assessment criteria include, for example, energy efficiency, emission reduction, supply chain management, employee development, customer relationship management and reporting principles.
With companies operating in food and staples retailing, the assessment focuses more specifically on e.g. supply chain transparency, sustainable and healthy selections, and packaging policy. Besides Kesko, sector companies in the DJSI World included Ahold, Carrefour and Metro in Europe, and President Chain Store and CP All Public Company in Asia.
In spring 2020, K Group updated its climate objectives, targeting carbon neutrality by 2025, with net zero own emissions by 2030. Primary means to achieve this include increased use of electricity and heat produced with renewable energy and switching to biofuels in transports in Finland. This autumn, K Group began deliveries to grocery stores and building and home improvement stores with two all-electric trucks in the Helsinki region.
Our data-based K-Ostokset service allows customers to track their grocery store purchases and see how much Finnish products they are buying and what the carbon footprint and nutritional values of their purchases are.