Environment, Social and Governance (ESG)
“ESG at Noventa is woven into every aspect of our business. Through careful consideration and management of our environmental, social and governance impacts, we are able to lead the shift towards a sustainable, inclusive and green economy. This is what enables us to meet the standards of environmental protection that our customers and stakeholders expect as a renewable energy provider.”
Dennis Fotinos, CEO & Founder
Our ESG Framework
Societal Challenges:
ESG Pillars:
Technological
Climate Crisis
Inequality
Rapid
Change
Climate action through decarbonization.
Safe, just and inclusive transition to the green economy.
ESG risk management leveraging technology & innovation.
Clean renewable energy production for People & Planet.
Our Commitments:
Generating shared value for stakeholders by creating safe, productive and equitable economic growth.
A holistic and innovative approach to mitigating risk.
Aligning business practices with the 10 Principles of the United Nations Global Compact.
Exceeding living wage for Noventa employees in each area we operate.
Accelerating commitments made towards the Paris Agreement to limit temperature increases to below 1.5°C.
Global Commitments:
Aligning with OECD guidelines for multinational enterprises on responsible business conduct.
Our Actions:
ISO: Working towards an Integrated Management System encompassing ISO 45001 (Occupational Health and Safety), ISO 14001 (Environmental) and ISO 9001 (Quality) Standards.
Comprehensive evaluation of Scope 3 GHG Emissions for 2024, in addition to tracking our Scope 1 & 2 Emissions.
Our Material Topics align with the
United Nations Sustainable Development Goals (“SDGs”):
United Nations Sustainable Development Goals (“SDGs”)
Environmental SDGs
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SDG 7 is to ensure access to affordable, reliable, sustainable, and modern energy. Noventa contributes to this goal through our renewable energy technology. We improve accessibility and availability of renewable energy by implementing solutions that may not have been otherwise considered. Our technology can also be deployed with low to no upfront cost to the customer. This improves affordability which can act as a barrier when switching to clean energy technology.
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SDG 13 is to take urgent action to combat climate change and its impacts. Noventa contributes to this sustainable development goal through the implementation of our decarbonized heating and cooling solutions. This is a direct form of climate action that displaces the use of natural gas and reduces the electrical consumption required for cooling. Noventa directly contributes to this goal as climate action is at the core of our business.
Social SDGs
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SDG 4 is to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. One of the indicators for SDG 4 is youth and adult technical skills development. Noventa contributes to this through our internship program, as well as our partnerships with various academic institutions. Noventa has been a supporter of the Mitacs program, which established partnerships between academic institutions and private industry to assist with cutting edge research and development. Noventa also contributes to this goal through our internship program, which promotes youth employment and skills development within the company.
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Achieving gender equality and the empowerment of all girls and women is SDG 5. Reducing inequalities is the goal of SDG 10. Noventa aims to foster an inclusive workplace which promotes and advances gender equality. Noventa is an equal opportunity employer, and our Equity, Diversity and Inclusion Policy outlines our commitment to an equitable workplace. One indicator for SDG 5 is participation of women in the workforce, and Noventa has 48% gender parity in our workforce, which is higher than the average for the energy sector in Canada.
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SDG 8 is to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Noventa exceeds living wage guidelines for our employees. Noventa also adheres to all applicable labour and human rights laws in the countries where we operate. We also aim to promote a safe and secure working environment through our Health and Safety Program.
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SDG 9 is to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation. Noventa supports the development of sustainable and resilient infrastructure through the deployment of our renewable energy technology, which reduces the environmental impact of buildings and results in significantly lower greenhouse gas emissions. Wastewater energy is a new and innovative concept in North American applications, which further contributes to this goal.
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SDG 11 is to make cities inclusive, safe, resilient, and sustainable. One indicator of this goal is to reduce the per capita environmental impact of cities by improving air quality. Noventa contributes to this goal through our Wastewater Energy Transfer™ technology. By reducing the combustion of natural gas for heating, Noventa contributes to improved air quality in urban areas.
Governance SDGs
The 10 Principles of the United Nations Global Compact
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Noventa’s Human Rights Policy aims to protect and promote human rights, provide an environment free from discrimination, and prevent and address systemic discrimination in all business activities. The Human Rights Policy aligns with the Ontario Human Rights Code and outlines the protected grounds on which the workplace does not discriminate on. The protected grounds include race, ancestry, place of origin, ethnic origin, color, citizenship, creed, sex, sexual orientation, gender identity, gender expression, age, marital or same-sex partnership status, family status, disability, or record of offences. The Diversity, Equity and Inclusion Policy outlines how Noventa is an equal opportunity employer and does not discriminate based on protected grounds. The goal is to promote an inclusive work environment that is free from discrimination and provide appropriate accommodations to support employees. These policies and practices align with the UNGC principles and OECD guidelines concerning the protection of human rights.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Through the Human Rights Policy, Noventa upholds the freedom of association and the effective recognition of the right to collective bargaining as a basic human right.
The UNGC principles and OECD guidelines detail the elimination of compulsory labour and child labour. Noventa’s Modern Slavery Policy addresses the issue of modern slavery and outlines our commitment to ensuring the use of forced labour does not occur in our operations. Regarding our supply chain, Noventa seeks to ensure that this is free from forced labour or the use of child labour. Noventa is currently in the process of developing a Supplier Code of Conduct and procedure to screen for forced labour and/or human rights violations in our supply chain.
Noventa provides compensation packages to employees that are motivational, fair, and equitable. This includes training opportunities throughout employment, appropriate to each role within the organization. Moreover, Noventa employs individuals within the regions that we operate to support local economic growth.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Noventa takes a precautionary approach to environmental issues that may arise from our operations as well as our project installations. We have risk management procedures in place that include environmental risks. Potential environmental risks are identified, and mitigation strategies implemented to prevent or alleviate any adverse impact. Any material risks are also directly reported to Noventa’s Board of Directors for transparency and accountability.
Noventa also contributes to positive environmental objectives through the deployment of our renewable energy systems. Through our renewable energy installations, Noventa contributes to global initiatives of decarbonization by substantially reducing greenhouse gas emissions and promoting greater environmental responsibility and stewardship. Furthermore, we continually strive to incorporate new technologies into our practices that further reduce environmental damage and promote sustainable outcomes.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
In addition, to specific policies concerning human rights and modern slavery, Noventa has a Code of Ethics that currently encompasses a Conflict-of-Interest Policy, an Anti-Bribery, Fraud and Corruption Policy, an Insider-dealing Policy, and an Anti-Money Laundering and Terrorist Financing Policy. Working in conjunction these policies ensure that employees understand their obligations to act with integrity and in the best of interests of Noventa. The Anti-Bribery Policy outlines that accepting or distributing bribes to advance business activities contravene both Noventa’s ethical business practices and also the UNGC principles and OECD guidelines. This policy also states that Noventa does comply with the Canadian Competition Act and any other relevant legislation. The Conflict-of-Interest Policy details how employees must act with the best interests of Noventa and extends to lobbying practices.
The Complaint Policy and Whistleblowing Policy do promote open communication and provide a mechanism for employees or stakeholders to feel comfortable raising concerns so they can be adequately addressed. Noventa is developing a Stakeholder Engagement Plan to ensure that engagement with stakeholders is incorporated into our due diligence procedures.
As Noventa builds out our ESG strategy, policy, and procedures, we seek to promote and adhere to environmental, social and governance best practices within the frameworks of our organization. This encompasses corporate social responsibility, good corporate governance, risk based due diligence and appropriate disclosure policies.
Spotlight:
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Stewardship Event
On June 13th, Noventa Energy Partners had the opportunity to volunteer at a stewardship event hosted for us by Don’t Mess with the Don!
Don’t Mess with the Don is a local all-volunteer charity, committed to the protection and enhancement of the Don Valley. The Noventa team removed invasive species such as Buckthorn and Dog Strangling Vine from the valley to allow for native species to thrive, creating a biodiverse and resilient ecosystem.
June 13 2024
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Happy World Environment Day from Noventa Energy Partners!
This year’s theme is Land Restoration, Desertification and Drought Resilience. At Noventa, we work every day to rewind the clock on climate change and environmental degradation. Small changes over many people can have a large impact on land restoration! Next week, our team will be participating in our first Stewardship Event. We will be removing invasive species in our own community to promote biodiversity and increase ecosystem resilience.
June 5, 2024
