1. Regnology – financial stability and transparency for a sustainable future
Regnology is a leading international provider of innovative regulatory, risk and supervisory technology solutions for the financial services industry. Its customers include international and central banks, leading insurance companies and supervisory authorities.
In the last year, Regnology has received a bronze rating from EcoVadis, the world's most trusted provider of business sustainability ratings. Their assessment methodology is built on international sustainability standards, including the Global Reporting Initiative, the UN Global Compact, and ISO 26000.
Regnology's holistic approach focuses on the areas where it can make the greatest difference to its stakeholders and addresses both internal and external sustainability impacts of its work. Having conducted a materiality assessment in 2021, Regnology spent 2022 developing its sustainability vision and plan.
ESG focus areas:
- Improving financial system stability everywhere
- Helping customers comply with ESG regulation’s reporting requirements
- Ensuring the learning and development of its workforce in a diverse and inclusive work environment where everyone feels welcome and safe
- Measuring and reducing its scope 1-3 CO2e emissions
- Having strong policies and governance processes in place to stay compliant with all current and future regulations and legislation
Partnership with Nordic Capital
Regnology has worked closely with Nordic Capital’s in-house sustainability team to develop a strategy and set realistic targets. Each year, the Company participates in a sustainability review, which has been extremely helpful in identifying gaps and areas for improvement. Regnology has also benefitted from the practical resources that are accessible via Nordic Capital’s Compliance and Sustainability portal, as well as the sharing of best practice and experience with other portfolio companies at regular ESG summits.
Future ESG ambitions at Regnology
In the months ahead, Regnology's focus is on setting targets and defined KPIs in different ESG areas. Guided by The Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB), the Company prepares to report more fully on its ESG performance metrics in line with and the European Union's Corporate Sustainability Reporting Directive (CSRD).
Regnology will also commit to the UN Sustainable Development Goals (SDGs), which provide a global framework for addressing social, economic, and environmental challenges, and will incorporate them into its sustainability strategy and business operations.
The Company is focused on sustainable procurement and seeks cooperation with suppliers that adhere to responsible and ethical business practices and meet ESG standards. As part of its responsible supply chain programme, Regnology intends to further enhance and develop more sustainable criteria for selecting suppliers. This will mitigate risks, reduce its carbon footprint, promote fair labour practices, and drive positive social and economic impacts throughout the supply chain.
2. Life made limitless – a conversation with the CEO of iLOQ
Headquartered in Finland, iLOQ is a technology disruptor that provides smart digital locking and mobile access solutions in 30+ countries. It aims to offer freedom from the security risks, inflexibility and high lifecycle costs related to mechanical locks and keys, as well as eliminating the need for batteries and cables. Less battery waste and increased reusability means lower environmental harm, placing sustainability at the very core of iLOQ's products and services
iLOQ's ESG ambitions, however, go further. The Company's strategy, defined in 2021, focuses on minimising significant environmental harm and increasing the positive environmental benefits of its locking solutions compared to traditional alternatives and break industry conventions.
iLOQ's CEO, Heikki Hiltunen, explains the Company's pioneering approach to ESG and the opportunities it presents for the future:
"Instead of having a standalone ESG strategy, we've made sustainability an integral part of iLOQ's business strategy. This is a reflection of its importance and how it's interwoven into the fabric of the company. Through innovation and product development, we're constantly looking to achieve positive impacts on our environmental footprint," she said.
"Offering a sustainable, energy-efficient and battery-free digital access management solution is what set us apart from our competition when we started. To this day, it continues to be our key differentiator."
Heikki Hiltunen lists a few focus areas of iLOQ's sustainability approach:
- Looking beyond themselves
- A more sustainable supply chain
- Data-driven decision making
- Caring for their partners
- Putting their people first
- Strength in diversity
Future ESG goals and ambitions at iLOQ
"We're looking for continuous improvement in all aspects. Our ultimate ambition is to help achieve the Net-Zero target in 2050. We'll follow our roadmap developed in 2023 to first identify more data and then find reduction levers based on that data. In the short-term, we aim to increase our understanding of our products' environmental impact through a life-cycle assessment and environmental handprint evaluation. GHG data management is vital to forming a foundation for data-driven decision-making process."
"Our ambition from a social perspective is to continue building a safe and healthy workplace throughout our growth journey, enhance our ESG capabilities and increase diversity to foster innovation," she concludes.