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Environment protection

Environment protection 2016
Clean energy gross production of 444.379* MWh in 2016 equals:
Power consumption of 148,126 families in 1 year
Saving of 606,622 barrels of oil
Emission saving of 235,521 tons of CO2
Greentech recognises the responsibility attached to being a player in society in a local, national and international context. Therefore, Greentech remains attentive towards making targeted efforts to ensure that its core business area and activities are conducted in a financially, environmentally and socially viable manner by both complying with statutory requirements and taking voluntary corporate responsibility initiatives in the countries and communities in which Greentech operates. Greentech believes that responsible business behaviour is a precondition for long-term value creation for the Company and its stakeholders.
The UN principles on human rights, labour rights, environment and anticorruption form a guiding framework on which Greentech’s corporate responsibility efforts are based. In its considerations relating to Corporate Responsibility initiatives, Greentech seeks inspiration in the UN Global Compact initiative for corporate social responsibility.

CLIMATE AND ENVIRONMENT
Greentech directly addresses significant societal challenges through the Company’s core business of producing and selling renewable energy from wind and solar technologies, contributing to reduce the environmental and climate impact.
Based on a durable and profitable portfolio of renewable energy producing assets, Greentech strives to generate and distribute clean energy production in order to preserve the environment and to contribute to a world sustainable growth.
Greentech contributed production of renewable energy provides immediate environmental advantages in terms of savings of fossil fuels and elimination of CO2 emissions.
In 2016 Greentech’s installed gross capacity provided a clean energy production of 444.4* GWh:

- Equivalent to the power consumption of 148,126 families in 1 year
- Saving 606,622 barrels of oil
- Avoiding the emission of 235,521 tons of CO2.

As Greentech offers an alternative to the scarce and polluting power sources providing clean energy without emissions of hazardous particles or greenhouse gases, no special environmental risks are related to Greentech’s activities.
The Company, however, do care about the physical impact of its activities. Greentech’s projects are subject to environmental permits and at all project stages Greentech is governed by comprehensive environmental legislation and rules which, through mandatory surveys and analyses, safeguard the surroundings of the Company’s plants, i.e. flora and fauna, local households and the landscape.
Greentech has no significant outstanding environmental issues with authorities, nongovernmental organisations or local households.
As to limit also the environmental impact of the Company’s administrative activities, Greentech decided, starting from 2014, not to present the annual report in a printed and bound version, but only electronically.

PEOPLE
Greentech considers diversity an important asset and remains committed to ensuring equal opportunities and rights for employees and therefore does not tolerate discrimination or harassment based on religion, race, ethnicity, gender, age, sexuality, political opinion or other status.
Greentech has a diverse workforce with a broad employee composition in terms of geographical and cultural background, gender and age distribution (see the paragraph “Organisation” for details on the composition of the employees).
Moreover, a safe and healthy workplace continues to be a priority for Greentech. Particularly in the Company’s wind and solar plants, severe health and safety procedures are implemented to secure the employees and minimise the risk of occupational accidents. Also in 2016, these provisions have contributed to an injury- and incident-free working environment.

Diversity in management
Greentech also maintains focus on encouraging diversity at managerial levels, an initiative which was introduced in 2013 with the policy on equal representation in management centred on gender distribution in the Board of Directors. In line with section 139a of the Danish Companies Act, the Board of Directors, thus, has implemented a target figure for the proportion of women, who currently constitute the underrepresented sex of the Board:
It is the aim of the Board of Directors of Greentech that 2 female board members be elected by the General Meeting before the end of 2017.
Greentech’s Board of Directors has been ambitious on the topic taking an important step towards its fulfilment with the election of Mrs. Michèle Bellon as member of the Board of Directors at the Annual General Meeting already in April 2014. Despite a continued process and focused effort identifying competent and qualified female candidates, the right match has not been made yet. The target figure, therefore, most likely will not be met as planned. The Board of Directors will, however, continue its efforts towards its fulfilment within the shortest possible time frame, maintaining obviously the primary criteria that the candidates proposed for the Board of Directors are selected considering their suitability based on professional and personals skills and competences.
In 2016, 2 male members of the Board of Directors withdrew, reducing the Board from seven to five members. With Greentech’s Board of Directors currently consisting of five members – 4 male and 1 female – the ratio of the underrepresented sex on the Board has increased from 14% to 20%.
Additionally, the Company has adopted policies regarding the proportion of gender in the other management levels of the Company:
Greentech is still committed to working towards creating and maintaining equal opportunities for women and men at all management levels in the Company. In connection with all recruitment, including recruitment at management level, it is Greentech’s policy to fulfil the Company’s requirements for employees with the necessary skills and competences, regardless of gender, age, ethnicity etc.
When choosing between equally qualified candidates, the diversity among the employees shall be taken into consideration. In connection with recruitment for managerial positions it should be ensured, where possible, that the candidates invited for interview include both men and women.

At year-end 2016, the managerial positions below top-management level in the Company were covered by respectively 50% (58% including “discontinued operations”) male managers and 50% (42% including “discontinued operations”) female managers – a totally equal gender representation.


ETHICS AND BEHAVIOUR
Transparency and compliance with national and international regulation and standards are considered cornerstones in Greentech’s business behaviour, and the Company is committed to conduct its activities in a lawful and conscientious way and perform its practices responsibly with due consideration and respect of internal and external procedures and guidelines.A code of ethics has been introduced for the majority of the Group companies which addresses relevant issues and prescribes the correct behaviour in interactions with the Company’s internal and external stakeholders. A system to increase awareness and of empowerment among the employees regarding the rules of conduct and business ethics has been implemented.
Greentech operates in an international context, currently in five different European countries (Denmark, Germany, Italy, Poland and Spain) which all constitute fairly limited risk factors in terms of businesses’ exposure to human rights violations. Consequently, Greentech does not conduct any activities, liaise or contract with business partners or suppliers in countries considered high-risk in terms of negatively impacting human rights. Greentech has not prepared a specific policy on human rights as, so far, the Company has not deemed it relevant, considering its business activities and locations.
In the future, Greentech will continuously endeavour to expand its corporate responsibility efforts by integrating environmental and social aspects in its planning and decision-making processes. These efforts will be based on the topics most relevant with respect to Greentech’s core business and commercial goals as this is the best way in which Greentech can contribute through relevant initiatives to the benefit of the Company and of its stakeholders.
* Excluding production from the Spanish solar plant Fotocampillos which was sold in the end of September 2016.