Started Sustainability Reporting with Aider as a Partner

For over 160 years, Andersen Mekaniske Verksted (AMV) has been at the forefront of development in its industry. Craftsmanship and innovation are at the heart of this proud company, which serves customers all over the world. It is therefore no surprise that they are leading the way in sustainability, aiming to stay ahead of regulations and requirements.

Climate Accounting

Over the summer, we have implemented the EU Sustainability Directive into Norwegian accounting law. The directive sets guidelines for what and how companies should report their impact on the environment and how the environment affects the company.

One of the first steps is to gain an overview of their CO2 emissions—in other words, to establish a climate account.

“We got to know Sven and Aider at a lecture. We liked their approach, and it naturally led us to work with them and their partner Morescope to start our sustainability efforts and establish a climate account,” says Grethe Larssen, Head of Finance at AMV.

“The process has been good and efficient, and we have obtained a tool that enables us to uncover our value chain emissions at a granular level. We look forward to actively using the platform going forward.”

The More Details, the Better the Results

One common challenge when setting up a climate account is the availability and quality of data. This is an area where Morescope’s solution, developed in collaboration with Sintef, truly excels.

Morescope first provides a quick estimate of your emissions using accounting figures (transaction data). You can then make adjustments where you have more accurate numbers (activity data) from your operations, suppliers, or partners.

If the company has product data in the accounting system, Morescope automatically incorporates it. The result is a fast and easy way to create a climate account according to the GHG Protocol, providing granular insights to reduce emissions.

“In this case, AMV had much better access to data than we are used to. It is not often that we encounter a customer with visibility down to the number of screws at inventory level!” says Sven Østebø, Head of Sustainability at Aider. “This posed some additional requirements for both us and Morescope, but we managed to establish a solution that was very good and met their desire to use all the data they had down to the product level.”

The Road Ahead

Once a climate account is established, the next step is naturally to work on reducing emissions. Here too, the system provides strong support. Morescope allows the company to set targets in line with the Paris Agreement and Science Based Targets. Equally important, the entire report can be integrated into the sustainability report in accordance with the EU Sustainability Directive and the updated accounting law.

“An exciting feature in Morescope that they have not yet fully used is the avoided emissions module. Here, AMV can calculate the climate footprint of projects before they start, providing an even better basis for decisions on which solutions to choose and to win future tenders!” says Østebø.

Having control over emissions has become an important competitive advantage moving forward—both in the corporate market and, for example, in public tenders, where climate and environmental considerations now account for a minimum of 30%.