Corporate Responsibility
Athena recognises the responsibility linked to being a player in society in a local, national and international context.
Therefore, Athena remains continuously attentive towards making efforts to ensure that its business activities are conducted in a financially, environmentally and socially sound manner by complying with statutory requirements while considering also voluntary corporate responsibility initiatives in the countries and communities in which the Company operates. Athena believes that responsible business behaviour is a precondition for long-term value creation for the Company and its stakeholders.
Therefore, Athena remains continuously attentive towards making efforts to ensure that its business activities are conducted in a financially, environmentally and socially sound manner by complying with statutory requirements while considering also voluntary corporate responsibility initiatives in the countries and communities in which the Company operates. Athena believes that responsible business behaviour is a precondition for long-term value creation for the Company and its stakeholders.
Athena’s contribution to the SDGs
The 17 UN Sustainable Development Goals (SDGs) address the major global economic, social and environmental challenges that the world faces towards 2030 as a framework for pursuing a more sustainable future. Athena is committed to contributing to the achievement of the SDGs. The Company directly and indirectly supports a number of the goals and will continuously consider, how its business operations can promote the SDGs. Through its renewable business activities, Athena has mainly contributed directly to SDG 7 on ‘Affordable and clean energy’ and SDG 13 on ‘Climate action’. In addition, Athena contributes indirectly to a number of other SDGs.
The 17 UN Sustainable Development Goals (SDGs) address the major global economic, social and environmental challenges that the world faces towards 2030 as a framework for pursuing a more sustainable future. Athena is committed to contributing to the achievement of the SDGs. The Company directly and indirectly supports a number of the goals and will continuously consider, how its business operations can promote the SDGs. Through its renewable business activities, Athena has mainly contributed directly to SDG 7 on ‘Affordable and clean energy’ and SDG 13 on ‘Climate action’. In addition, Athena contributes indirectly to a number of other SDGs.
Environment Protection 2019
Clean energy gross production of 267,665 MWh in 2019 equals:
89,222
Power consumption of families in 1 year
365,389
Saving of barrels of oil
141,862
Emission saving of tons of CO2
Climate and environment
Athena has directly addressed significant societal challenges through the Company’s business of producing and selling renewable energy from wind and solar technologies, contributing to reduce the environmental and climate impact. Based on a portfolio of renewable energy producing assets, Athena has contributed to generate and distribute clean energy production in order to preserve the environment and to support a world sustainable growth. Athena’s contributed production of renewable energy has provided immediate environmental advantages in terms of savings of fossil fuels and elimination of CO2 emissions.
In 2019 Athena’s installed gross capacity provided a clean energy production of 267.7 GWh:
- Equivalent to the power consumption of 89,222 families in 1 year
- Saving 365,389 barrels of oil
- Avoiding the emission of 141,862 tons of CO2.
Despite Athena offering alternatives to the scarce and polluting power sources providing clean energy without emissions of hazardous particles or greenhouse gases, there are certain environmental risks related to the environment around the Company’s plants.
The Company does care about the physical impact of its activities. Athena’s renewable projects have been subject to environmental permits and at all project stages Athena is governed by comprehensive environmental legislation and rules which, through mandatory annual surveys and analyses, have safeguarded the surroundings of the Company’s plants, i.e. flora and fauna, local households and the landscape. In 2019, Athena had no significant outstanding environmental issues with authorities, nongovernmental organisations or local households. On average, Athena’s operating wind assets are energy neutral within 15 months from the first connection – their “energy payback time”. This means that within 15 months of operation, the turbines have generated the same amount of energy that has been or will be consumed for the development, construction, maintenance etc. of the plants during their 25-year lifetime. Having compensated any related generation of pollution and CO2 after 15 months, Athena’s wind turbines, averagely, have delivered a pure energy production during 95% of their lifespan. Athena’s operating solar projects are energy neutral within 37 months from the first connection. With an expected lifespan of 20 years, the solar assets provide fully clean energy during 85% of their lifespan.
In line with the low environmental impact of the Company’s operating assets, Athena is not an energy intensive company from an administrative point of view: any greenhouse gas emissions are mainly related to heating and electricity use in our offices and with car, rail and air travel. Travel activities are limited to the extent possible and partly replaced by video or conference calls.
People
Athena 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. Athena has a diverse workforce with a broad employee composition in terms of geographical and cultural background, gender and age distribution.
Moreover, a safe and healthy workplace continues to be a priority for Athena. Particularly in the Company’s wind and solar plants, severe health and safety procedures have been implemented to secure the employees and minimise the risk of occupational accidents. Also, in 2019, these provisions have contributed to an injury- and incident-free working environment.
Moreover, a safe and healthy workplace continues to be a priority for Athena. Particularly in the Company’s wind and solar plants, severe health and safety procedures have been implemented to secure the employees and minimise the risk of occupational accidents. Also, in 2019, these provisions have contributed to an injury- and incident-free working environment.
Diversity in management
Athena 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, implemented a target figure for the proportion of women (the underrepresented sex). The Board of Directors is ambitious on the topic and has confirmed a target figure of two female board members to be elected by the General Meeting within 2022. The target has not yet been met as currently one woman, which corresponds to 20% of the total Board of Directors, elected at the Annual General Meeting, holds a Board position. In 2019, there were no changes in the composition of the Board of Directors and, consequently, no additional female candidates were identified and proposed for election at the General Meeting. The Board of Directors will, however, continue its efforts towards reaching the target within the shortest possible time frame, maintaining obviously the primary criteria that any candidates proposed for the Board of Directors are selected considering their suitability based on professional and personals skills and competences.
Additionally, the Company has adopted policies regarding the proportion of gender at the other management levels of the Company, and Athena remains 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 Athena’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 2019, the managerial positions below top management level in the Company were covered by respectively 35% male managers and 65% female managers. This represents an equal gender distribution and reflects the gender composition of the employees.
Ethics and Behaviour
Transparency and compliance with national and international regulation and standards are considered cornerstones in Athena’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 which addresses relevant issues including corruption and bribery and prescribes the correct behavior in interactions with the Company’s internal and external stakeholders. More precisely, the External relations chapter of the Code of Ethics clearly specifies the Company’s behaviour guidelines to employees for any gifts, benefits, money, goods or services and relationships with external advisors, suppliers, public authorities, politicians, any organisations and the media. A system to increase awareness and of empowerment among the employees regarding the rules of conduct and business ethics has been applied in 2019. During 2019, the Company did not face any breach of the Code of Ethics.
Athena operates in an international context, currently in two different European countries (Italy and Denmark) which both constitute fairly limited risk factors in terms of businesses’ exposure to human rights violations. Consequently, Athena 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. Athena 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, Athena will continuously endeavour to expand its corporate responsibility efforts in its planning and decision-making processes. These efforts will be based on statutory requirements and the topics most material to Athena’s business and commercial goals as this is the best way in which Athena can contribute through relevant initiatives to the benefit of the Company and of its stakeholders.