Caverion Oyj

Environmental & Social Information • Mar 3, 2023

1 Sustainability Report 2022 © Caverion Corporation Public

We enable performance and people's wellbeing in smart and sustainable built environments

Table of contents

Our approach | Building sustainable performance.........4

From the CEO 6
Sustainability highlights 7
Sustainability targets 8

Environment | Towards a carbon-positive future...........10

Our footprint11
Our handprint14
Some examples of our services 16

	Social Our people are key to
our success	17

Key figures	19
Work safety and wellbeing at work	20
Developing our people and competencies	22
Diversity, equity and inclusion	23
Reward	24

Governance Ethical operating culture 25
Leading sustainability 26
Supply chain 28
Stakeholder engagement29
Human rights 31
Anti-corruption and bribery 31
Digital responsibility 32
33 GRI INDEX

Our approach Environment Social Governance

4 Sustainability Report 2022 © Caverion Corporation Public

OUR APPROACH ENVIRONMENT SOCIAL GOVERNANCE

Caverion is an expert for smart and sustainable built environments, enabling performance and people's well-being. Customers can trust our expertise during the entire life cycle of their buildings, infrastructure or industrial sites and processes: from installation and maintenance of base and smart technologies, to managed services as well as advisory and engineering services and digital solutions.

Our customers are supported by almost 14,500 Caverion professionals in 10 countries in Northern and Central Europe. Our revenue in 2022 was more than EUR 2.3 billion. Caverion's shares are listed on Nasdaq Helsinki.

From the CEO

2022 was an eventful and positive year for Caverion

After the pandemic years 2020-2021, 2022 was another exceptional year with post impact from the pandemic and the war in Ukraine. The war in Ukraine has had a big impact, not only on the political and social environment, but also on the economic environment in Europe and the whole world. As a consequence, the energy crisis and inflation became a more and more predominant concern as the year progressed. Caverion managed the challenges well because we continued to stay close to our customers and supported them in addressing their priorities – navigating the energy crisis, mitigating supply chain issues and inflation and following tightened sustainability regulations.

Our people are the key to our success

In 2022, we acquired 12 companies in 5 countries. More than 560 new experts joined our Caverion family through these acquisitions, further increasing our capabilities for building performance. Our almost 14,500 employees cover a vast area of special expertise and come from a diverse background of 52 different nationalities. We are all united by the values that define our daily work: We do it together. We deliver what we promise. We explore and improve.

Safety is the foundation of everything we do; it always comes first. In 2022, we continued the positive safety trend of the previous years. Our LTIFR was as low as 4.0. Nevertheless, any accident is one too many. We further increased our focus on safety with additional preventive and proactive measures in all our divisions.

Sustainability – energy efficiency as number one priority

Energy efficiency has been at the top of our agenda for many years. In 2022, it has become the top priority for the majority of our customers. We have been able to support them with fast, flexible and sustainable solutions to reduce their energy cost and carbon footprint. Furthermore, we advise on how to adapt to the current fluctuations in energy availability and cost and how to mitigate these themes also in the mid and long term. By reducing our customers' carbon footprint, we increase our own positive impact - our handprint.

The other side of reaching our ambitious environmental targets is our own carbon footprint. In 2022, we communicated our commitment to electrify our car fleet. Early in 2022, we signed up to the Science Based Targets initiative. We are proud that we received the EcoVadis Gold certificate, which is awarded for scoring within the top 5% in the industry. EcoVadis rates the performance of a company in environment, labor & human rights, ethics and sustainable procurement actions and processes.

I want to thank everyone who contributed to our successful 2022. A big thank you goes to my almost 14,500 colleagues across our divisions. You have made our success possible. I also wish to thank the thousands of customers who trusted us and the partners that work with us towards common goals.

Jacob Götzsche

Sustainability highlights 2022

Electrifying our car fleet to reduce emissions

Our goal is to electrify our service fleet, 4,400 vehicles. Our estimation is that by the end of 2025, half of our vehicles would be electric, and all of them by 2030. For new service van orders in cities, fully electric vehicles are now the default. As the majority of our carbon footprint currently comes from the service vehicle fleet, the electrification our cars is an important step for us to reduce local emissions significantly.

Welcoming 700 apprentices; adding 560 experts through acquisitions

Our people are the heart of Caverion. During the year 2022, we offered apprenticeships to more than 700 young potentials across our company. 560 experts joined our team through acquisitions, increasing our capabilities in various areas, including industrial automation, wind power and security and safety.

Supporting our customers to save energy

Saving energy is a priority topic for all our customers. Our experts offer reliable, factbased and concrete advice how to improve energy efficiency and save costs both in the short-term as well as in the mid and long-term. We also help our customers to prepare for the future as the shift towards fossil free energy production will mean that large fluctuations in energy availability and prices are likely to continue.

Helping to save the Baltic Sea for future generations

During 2022, we donated to the John Nurminen Foundation and to the Baltic Sea Action Group for efforts to protect the fragile Baltic Sea. Our donation was a culmination of various sustainability-related activities and events carried out over the past year. In addition, we continued to support the Smart Building technology research at Aalto University in Finland.

Collaborating with ABB

Together with ABB, we accelerate the development of energy efficient and sustainable buildings. The aim of the collaboration is to jointly offer customers advanced, smart solutions for achieving carbon-neutral buildings and reaching their sustainability targets.

Continuing strong track record in safety

We care about the safety, health and wellbeing of our people and have improved safety systematically throughout the company. Our LTIFR level of 4.0 in 2022 is clearly better than the industry average. Proactive safety work will continue to be our focus in the future as our long-term goal is zero accidents and LTIFR <2.0 in 2025.

Joining Science Based Targets initiative

Caverion is committed to the Science Based Targets initiative (SBTi), which is driving ambitious climate action globally. SBTi enables companies to set science-based emissions reduction targets in line with the Paris Climate Agreement and to limit global warming to 1.5 degrees. Our environmental targets will be validated against science-based criteria by SBTi in 2023.

Sustainability targets

We have defined four ESG focus areas until 2025 which support us in reaching the sustainability targets:

• ﴿ Decreasing our footprint
• ﴿ Increasing our handprint
• ﴿ Caring for our people
• ﴿ Ensuring sustainable value chain

We are committed to the target that our positive carbon handprint will be 5 times greater than our carbon footprint (Scope 1-2) by 2025 and 10 times greater by 2030. The climate targets will be reached, among other things, by improving our own and our customers' energy efficiency, by increasing the use of renewables in built environment and by managing service and supply chains responsibly.

For each of these focus areas we have set group wide KPI's and action plans. The targets are related to our carbon footprint and handprint, diversity, safety, sustainability training, and supply chain management. Together with our ambitious climate targets we foster the wellbeing of our own employees and those of our partners. We target that our employees work with meaningful tasks that have a great impact on our customers' business, our environment and the future. We also aim to provide a diverse work environment that is fair, motivating and interesting for our employees and for new recruits.

Since 2021 we are a proud member of the UN Global Compact (UNGC), the world's largest corporate sustainability initiative. By signing the Global Compact, we are committed to incorporating the initiative and its principles into our strategy and building performance culture – and communicating them to our employees, owners, suppliers, partners, customers and the rest of our community.

The Sustainable Development Goals (SDGs) particularly linking with our sustainability targets and KPIs are:

• ﴿ Good health and wellbeing
• ﴿ Gender equality
• ﴿ Decent work and economic growth
• ﴿ Industry, Innovation, and Infrastructure
• ﴿ Sustainable cities and communities
• ﴿ Climate action

In February 2022, we committed to the Science Based Targets initiative (SBTi) which is driving ambitious climate actions. SBTi enables us to set science-based emissions reduction targets in line with the Paris Climate Agreement and which aims to limit the global warming to 1.5 degree. We have continued the work in defining our Scope 1-3 emission targets during 2022, based on the world-wide Greenhouse gas emission calculation standard GHG Protocol and SBTi process, and this work will continue during 2023.

Our sustainability targets

Focus area	KPI	Definition of KPI	Actions	2020	2021	2022	Target 2025
Decreasing Caverion´s footprint	Total carbon footprint defined and measured	The material Scope 1-3 emission categories defined. All emissions from those material categories measured.	We continued improving Scope 1-2 measurements. Scope 3 categories defined and improved measurements on total Scope 3 emissions.	66%	80%	100%	100%
Increasing Caverion´s handprint	Five times carbon handprint over footprint (Scope 1-2)	Caverion offering´s carbon savings for customers and society in relation to Caverion own Scope 1-2 carbon emissions.	We expanded carbon emission calculations for our positive handprint offering. Simultaneously aimed to decrease our own carbon footprint (Scope 1-2).	>1x	>2x	>3x	5X
Increasing Caverion´s handprint	Our offering has a defined carbon handprint	Caverion offering which has a relevant positive carbon handprint defined. All of that offering is measured with its CO2 savings for customers and society.	We collaborated with key suppliers and engaged customers to development offering and handprint measurements.	-	20%	25%	100%
Caring for our people	Lost Time Injury Frequency Rate (LTIFR)	LTIFR refers to the amount or number of lost time injuries per 1,000,000 hours worked.	We invested in systematic safety work and strong proactive measures in safety.	4.2	4.0	4.0	<2
Caring for our people	Share of female employees	Share of female employees.	We created a plan for longer term activities, started building awareness and local specific actions.	11%	11%	11%	15%
Caring for our people	All employees trained in sustainability	Number of employees (excl. temporary, inactive, etc. employees) who have conducted Sustainability eLearning.	Our Sustainability eLearning was launched in 2022.	-	N/A *	30% **	100%
Ensuring sustainable value chain operations	Supplier Code of Conduct (SCoC) sign-off rate	Share of purchase volume of suppliers who have approved Caverion SCoC or who have a CoC/SCoC which Caverion has approved.	We followed up on each Caverion division to increase the sign-off rate of SCoC.	63%	66%	74%	90%
Ensuring sustainable value chain operations	All tender requests include sustainability criteria	Sustainability criteria for tender requests defined. Include sustainability criteria in all the major tender requests.	We held sustainability discussions with chosen key suppliers during 2022.	-	-	-	100%

* Sustainability eLearning not yet available. Two other ESG related eLearnings conducted with performance rates of 86% (Safety eLearning) and 92% (Code of Conduct eLearning).

** Sustainability eLearning available since Q4/2022. During the year two other ESG related eLearnings conducted with performance rates of 97% (InfoSec eLearning) and 97% (Code of Conduct eLearning).

10 Sustainability Report 2022 © Caverion Corporation Public

Towards a carbon-positive future

Contributing to the United Nation's Social Development Goals:

Key performance indicators:

	2022 Actual	2025 Target
Decreasing our footprint and increasing our handprint
Total carbon footprint defined and measured	90%	100%
Our offering has a defined carbon handprint	25%	100%
Carbon handprint over footprint (Scope 1-2)	>3x	5x

Our most significant impact on the environment originates from our energy-efficient and sustainable solutions, which help customers reduce their carbon emissions. In addition, we contribute to a carbon-neutral society by reducing our own emissions.

Our environmental focus areas include decreasing our carbon footprint and increasing our handprint. We are committed to achieving a positive carbon handprint five times greater than our Scope 1–2 carbon footprint by 2025. This is supported by our objective to define and measure our total carbon footprint and have a defined carbon handprint for our offering.

In order to reliably and transparently measure the total carbon footprint, we announced our commitment to the Science Based Targets initiative (SBTi) at the beginning of 2022.

Our footprint

The emissions from our own operations (Scope 1-2) are rather moderate as our business focuses on installation and services rather than physical product manufacturing. In 2022 the CO2 emissions of our service vehicle fleet were again greater than the emissions from our facilities.

Scope 1: accelerated shift towards EV´s

A key component in our carbon footprint is our service vehicle fleet that consisted of 4,400 service vans and cars in 2022. To mitigate service fleet emissions, we are focusing on increasing our remote services, optimising routes and increasing the use of biofuels and electric vehicles.

In 2022 our service fleet was the most critical part when it comes to the Scope 1 emissions as it accounted for 15 800 tCO2 (75% Scope 1 emissions). 98% of the fuel used by the vehicle fleet was diesel, with an increasing number of biodiesels in use.

In 2022, we took an important decision towards minimising our Scope 1 emissions as we prepared our car fleet electrification strategy and launched our car fleet electrification targets in Capital Markets Day in May 2022. According to the targets, the newly ordered services vehicles will be fully electric in cities. This covers the majority of our fleet. When it comes to the passenger cars, we will order fully electric cars as default in the Nordics and 50% as fully electric cars in Central Europe with the ambition to gradually increase the share over the coming years. In 2022, we already started to execute our strategy and order fully electric vehicles as intended. During the year all Divisions got started on their electrification journey and especially Divisions Norway, Sweden and Finland progressed well and showed great example. By 2025, we aim to have more than 2,000 electric service vans in use.

Scope 2: towards renewable energy in buildings

Our operations are not extensively energy intensive. Scope 2 emissions derive mainly from our leased office buildings. We are committed to increasing the share of renewable energy use in our buildings and implementing everyday energy efficiency activities. These activities have already been deployed in many locations. For example, Caverion Sweden are already using 100% renewable energy.

Scope 3 emissions screened

We have conducted a comprehensive study and estimation of Scope 3 emissions for the first time. To do so, we screened all Scope 3 emission categories and identified related purchased goods and services as well as the use of sold products as the biggest emission sources. We aim to be the frontrunner in our industry in carbon footprint and handprint work. Therefore, we are taking a challenging yet decisive route in calculating Scope 3 emissions. We are aiming to improve the accuracy of carbon calculations and to be able to compare them year-on-year. Based on our estimate, Scope 3 accounts for over 90% of our total value chain emissions. The aim is to externally communicate emissions for each relevant Scope 3 category in the future.

Under the Scope 3 category purchased goods and services, materials related to electricity and HVAC from the largest portion of our material use. By working with our suppliers, we ensure that the current and new products we install are fit for circularity. We also aim to calculate the environmental footprint of the key solutions and services that we provide to our customers. A collaboration with key suppliers is planned to reduce the emissions and the waste generated by the products provided by our suppliers. Acknowledging the biggest Scope 3 emission sources, we aim to further improve and mitigate the environmental impacts the solutions we offer have on customers

and thus to expand our carbon handprint. Examples of such products included in our customer solutions are heat pumps, refrigeration and cooling systems.

OUR APPROACH ENVIRONMENT SOCIAL GOVERNANCE

The figures concerning Scope 1-2 emissions cover the entire business operations of the Caverion Group. The calculations are mainly based on real consumption data. In some countries, part of the total consumption has been estimated in cases where exact data is available for only part of the consumption.

In 2023 we continue the work to decrease our Scope 1-3 CO2 emissions and focus on validating our SBTi emission targets.

Energy consumption (indirect energy) (GWh)	2020	2021	2022
Electricity	13.6	10.7	10.5
Electricity (green, renewable)	-	13.1	1.4
District heating	11.1	9.1	11
District heating (green, renewable)	-	0.03	0.06
District cooling	-	0.03	0.03
District cooling (green, renewable)	-	0.08	-
Geothermal	0.1	0.1	0
Total	24.8	33.1	23.0

Fuel consumption (direct energy)
(1,000 l)	2020	2021	2022
Petrol	493	446	250
Diesel	6,525	7,203	7,435
Bio diesel	-	121	53
Light fuel oil	3	35	29
Natural gas (1,000 m3)	125	402	380
LPG	24	6	0

	OUR APPROACH	ENVIRONMENT	SOCIAL	GOVERNANCE
Scope 1 CO2 emissions from		Scope 1 & 2 CO2 emissions		Certified environmental management systems

Our environmental management systems are certified according to the international standard ISO 14001. These certifications covered 90% of our business in 2022.

CO2 emissions, petrol	1,121	1,119	651
CO2 emissions, diesel	17,461	19,335	19,661
CO2 emissions bio diesel*			11
CO2 emissions, light fuel oil	9	16	11
CO2 emissions, natural gas	236	813	795
CO2 emissions, LPG	39	10	0
Total direct CO2 emissions	18,866	21,293	21,129
Scope 2 CO2 emissions from indirect energy sources, tonnes (market-based)	2020	2021	2022
CO2 emissions, electricity	2,218	3,930	3,900
CO2 emissions, district heating	1,585	1,627	1,244
CO2 emissions district cooling		-	11
CO2 emissions, geothermal	6	10	9
Total indirect CO2 emissions	3,809	5,567	5,160 *
Direct and indirect CO2 emissions, total	22,675	26,860	26,289

direct energy sources, tonnes 2020 2021 2022

Scope 3 ***
CO2 emissions, tonnes	2020	2021	2022
Business travel, air travel CO2
emissions	28.8	26.8	74.9
Intensity ratios	2020	2021	2022
Direct and indirect
CO2 emissions/revenue (mEUR)	10.5	13.4	11.2

* Total location-based Scope 2 CO2 emissions in 2022 from indirect energy sources, tonnes: 2,328 tCO2

ISO 14001 certified business

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Our handprint

As sustainability needs are growing rapidly, we are well positioned to help provide a sustainable and digital future for our customers and the whole society. We offer expert guidance throughout the entire lifecycle of buildings, infrastructure and industrial sites and processes. Our focus is on delivering longlasting benefits by bringing together people, technology, and data.

Our growth in sustainable smart solutions is supported by the joint need to tackle climate change and direct our efforts towards megatrends, such as the increasing digitalisation and urbanisation. We are continuously improving and expanding our smart technology and digital solution offering to increase customer value and our carbon handprint.

Europe is driving for change

Increasing awareness of sustainability is supported by both EU-driven regulations and national legislations setting higher demands for energy efficiency and carbon-neutrality. This is further accelerated by the end-users' general request for a more environmentally friendly built environment.

The Energy Performance of Buildings Directive (EPBD) requires all new buildings from 2021 to be nearly zero-energy buildings. The suggested EPBD revision will go even further aiming to establish new Minimum Energy Performance Standard for both existing and new buildings. This is part of the EU's "Fit for 55" climate package and supports the Renovation Wave strategy:

• ﴿ The "Fit for 55" climate package proposes to make the EU's climate, energy, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
• ﴿ The objective of the European Commission's Renovation Wave strategy is to at least double the annual energy renovation rate of residential and non-residential buildings by 2030. Mobilising forces at all levels towards these goals is expected to result in 35 million building units renovated by 2030. The increased rate and depth of renovation will have to be maintained and increased also post-2030 to reach EU-wide climate neutrality by 2050.

Additionally, the EU taxonomy for sustainable activities combined with heightened customer ambitions are driving the demand for projects and services that result in a positive carbon handprint. Also national and EU-level corona-related stimulus packages have been focusing on sustainable investments over the coming years.

There is an increased market demand for services supporting sustainability, such as improved energy efficiency and better indoor climate. We have a special focus on sustainability both in Smart Technologies as well as in digital solutions development. In refrigeration, as an example, there is a technical change ongoing from environmentally harmful F-gases into CO2-based refrigeration, providing increased need for upgrades and modernisations. We are at the forefront of providing sustainable cooling alternatives and refrigeration automation technology. The sustainability trend and legislations are also increasing the demand for building automation upgrades.

Many of our customers have already committed to ambitious emission reductions or other sustainability targets. We can help our customers in reaching their goals with concrete measures.

In 2022, our handprint was triple the size of our footprint

The main parts of our handprint accumulate from:

• ﴿ smart building automation,
• ﴿ smart heating and cooling,
• ﴿ sustainable refrigeration,
• ﴿ efficient industrial process and maintenance solutions
• ﴿ EV charging,
• ﴿ solar panels,
• ﴿ remote centre services,
• ﴿ energy management,
• ﴿ Energy Performance Contracting (EnPC),
• ﴿ lifecycle projects and
• ﴿ advisory services.

These solutions offer major CO2-saving capabilities for our customers and for the society.

Our annual EnPC CO2 savings alone cover our Scope 1–2 emissions. Adding Energy Management, Energy Performance Contracting (EnPC) and EV charging in the calculation, we are saving three times the CO2 amount of our own Scope 1–2 footprint. As we add more services to our calculations and carry out more services with a positive handprint impact, we will be well positioned for sustainable growth and achieving our target of our carbon handprint being five times greater than our carbon

EU Taxonomy: 31% of revenue EU Taxonomy eligible

In 2022, 31% of our revenue was considered eligible with EU Taxonomy and 1% aligned with EU Taxonomy. We have identified close to 30 EU taxonomy activities in seven sectors of economic activity.

Some examples of our services sales of how we make buildings, industries and infrastructures more smart and sustainable

Building automation

The Building Management System (BMS) and building automation integrates all the functionalities of a building into a single, easily controllable system. Building automation has a large impact on the management of the property's conditions, energy-efficiency and end user satisfaction. For example, optimising the energy usage of a building's technical systems reduces electricity consumption but also shifts energy consumption to times when electricity spot-price is lower. These two factors combined generate savings in both kWh and in euros.

Refrigeration

Refrigeration plays a massive role in the energy consumption of buildings. For example, in supermarkets it can account for up to 50% of the total energy use. We provide environmentally friendly, cost-efficient and scalable refrigeration solutions and support customers in their change from conventional refrigerants to environmentally friendly CO2 refrigeration.

Lifecycle management

To maximise long-term value, design, construction, maintenance and modernisation should all be viewed from a lifecycle perspective. We guarantee the reliable functionality, high energy efficiency and healthy indoor climate of the property for the entire contract period, up to 25 years.

EV charging stations

Electric vehicles (EV) are an important part of smart and sustainable cities. The installation and maintenance of charging stations requires extensive technical expertise and certified experience. We can help with the entire process and enable mobility with low emissions through remote monitoring and predictive maintenance.

Power plant and industry maintenance

In our longterm operations and maintenance partnerships, we increase reliability, safety and sustainability. Effective shutdown services reduce the downtime of planned maintenance and increase the lifecycle of machinery.

Remote centre services

Cost-efficiency and response times can be improved and climate impacts mitigated with modern digital remote monitoring and control. Our data shows that over 90% of building management system alarms do not require a physical site visit.

Advisory services and consulting

Creating a clear path to the future: our Advisory Services for sustainable results include a Sustainability Footprint Advisory, Energy Advice, Technical Advice and the Smart Readiness Indicator (SRI) consulting service.

Energy Performance Contracting (EnPC)

EnPC is a long-term contract where different energy efficiency means and investments are financed by savings in energy costs. Typical EnPC customers are municipalities and private sector industries.

Caverion SmartView

Caverion SmartView provides an overview of all building data in a single platform. It helps customers to follow the performance of their buildings to optimise conditions and reduce costs while improving end-user satisfaction, and reducing the properties' carbon footprint.

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nvironment

Our people are key to our success

Contributing to the United Nation's Social Development Goals:

Key performance indicators:

	2022 Actual	2025 l'arget
Caring for our people
Lost time Injury Frequency Rate (LTIFR)	4.0	<2
Share of female employees	11%	15%
Our employees are trained in sustainability	30%	100%

People are at the core of our business. Therefore, People is one of the four strategic themes in the updated strategy launched in 2022. We aim to become the most attractive employer in our industry. According to our people strategy, the company focuses on:

• ﴿ Attracting and growing the right people
• ﴿ Empowering Building Performance culture
• ﴿ Leading people and performance with passion and care

In 2022, we continued to focus on developing our Building Performance culture to support our updated strategy, including the launch of our updated values. A large number of employees in different countries contributed through workshops and questionnaires to make the values relevant for our people. Introducing value-based behaviours helps to demonstrate to employees how the culture becomes visible in everyday life.

Our renewed Values, which form the foundation for everyday work and our activities are:

• ﴿ We deliver what we promise
• ﴿ We do it together
• ﴿ We explore and improve

One of our key projects facilitated by HR in 2022 was our People management adoption work. The purpose was to implement our common ways of working and achieve the benefits from our People management system.

The Adoption work focused on:

• ﴿ Employee life-cycle processes efficiency, through systematic review and enhancements
• ﴿ Reporting, to be able to offer the outcomes to the organisation in a way we have not been able to do earlier
• ﴿ Training and communication to HR and Managers to enhance user experience

Our people are committed and motivated

In these challenging resourcing times, we have reviewed our Employee Value Proposition (EVP) and we will continue with the planned activities in 2023. A survey was carried out in connection with the EVP work and the topic "Good colleagues are most valued" was clearly raised as our strength as an employer. Our long-term goal is to create a common Caverion EVP, that all divisions will recognise and implement. We want to have a consistent story that enhances our brand and leverages our attractiveness as an employer.

We have in 2022 been recognised in in the area of Employer branding. We have received awards in Finland, in Sweden and in Germany.

Caverion Sweden has had a great year in building the employer brand – and it was also well awarded in different categories by the national organisation "Karriärföretagen". The justification was that Caverion Sweden is an exciting employer that attracts attention with its flair for communication. Through a strong foundation of values, Caverion Sweden has established a good corporate culture that focuses on the individual and with strong support from management. We are in Sweden working towards a better labour market and there is a clear commitment to it. The highlight of this way of working was the top position in the category "Role model in HR" which is a great achievement.

In Finland we were among the top 3 companies with a successful social media campaign focusing on recruitment with 2,7M views in TikTok. Our visibility has increased in social media, including content and the use of different channels. Our employees have actively contributed to this development, which makes a difference for us as a valued employer.

We have placed effort on improving our onboarding process to ensure we are able to engage with our new employees at an early stage. We have added pre-boarding actions and implemented a model for a structured onboarding planning.

Caverion Leader Forum gathers key executives once a year to address strategic topics. In 2022, this was complemented by two virtual Leader Forum sessions and divisions' own events in order to translate the strategy to local activities.

Changes in personnel in 2022

At the end of 2022, we employed 14,490 (2021: 14,298) people in 10 countries. A total of 12 acquisitions were closed during the year, resulting in more than 560 new employees joining us from the acquired companies.

Personnel at year's end

Key figures 2022

Gender distribution (%)

Age distribution

	2020	2021	2022
Fixed-term employees (%)	6	6	6
Fixed-term employees,
women and men (%)	12/88	12/88	9/91
Relative share of
employees working part	18.6/3.0	18.0/3.0	18.0/3.0
time, women and men (%)
Employees covered by
collective bargaining	85	91	93
agreements (%)

Share of women in management

57	42 years	10.2 years	4.0
Nationalities (2021: 47)	average age (2021:42)	average duration of employment (2021: 10.7)	LTIFR* (2021: 4.0)

* = Lost Time Injury Frequency Rate, the number of lost time injuries occuring in a workplace per 1 million man-hours worked

Accident frequency rate *

Work safety and wellbeing at work

We care for the safety, health and wellbeing of all our people. A safe and prosperous working community is created together: we challenge all our employees to carry their own responsibility for work safety and wellbeing every day.

Work safety

.

Work safety is the top priority for us, and the company follows a systematic and proactive way of working.

The lost time injury frequency (LTIFR) rate at the end of 2022 remained at the previous year's level of 4.0. We are among the top performers in terms of safety in our industry and have high ambition and strong focus on continuous improvement. We believe our underlying safety performance is on the right track and the long-term target is to get as close to zero accidents as possible. To back that up, 2022 was the year where we saw that zero is possible – that is as Denmark achieved more than one year without a work safety accident that would have led to lost time. This is an achievement that all divisions in Caverion can and will learn and get inspired from.

Proactivity is key

In Caverion we have a strong focus on preventing safety incidents from happening. Risks assessment must always be done before starting the work and safety tours and inspections are conducted on a regular basis. Proactive KPI's regarding this are followed in the divisions and by division and group management.

In 2022 Industry division has put high focus on Risk assessment through several actions, top-down training on risk assessment and safe way of working, and on enhancing the risk assessment documentation. Also, a "Stop-Think-Make safe choice" poster campaign was implemented.

In 2023, we will have even more focus on risk assessments and on the quality of the mitigative actions that take place as the outcome of these risk assessments.

Certified safety management

Our occupational health and safety management systems are externally certified according to international standard ISO 45001. These certifications covered 90% of our business in 2022.

ISO 45001 safety certified business

Sick leave rate

Caring for the well-being of the employees is critical to our success as a company. We all perform at our best when we are cared for and focus on the mental, social and physical well-being is key in our aim to be a responsible employer.

In 2022 an anti-bullying and anti-harassment campaign was conducted in Germany, Norway and Sweden for a total of more than 7,000 people.

We offer a wide range of support and various tools for the wellbeing of our people. In division Finland a dedicated occupational well-being unit provides support in terms of:

• ﴿ Plan and develop solutions in order to enhance wellbeing of our people
• ﴿ Develop occupational health services and assure good cooperation practices
• ﴿ Help in issues concerning work ability management
• ﴿ Represent Caverion in purchasing occupational health care services
• ﴿ Guide and manage work ability in a systematic and goaloriented way

Caverion Map of Wellbeing

For us it is important that our employees feel well, are motivated and enjoy their job. The Caverion Map of Wellbeing guides our

Developing our people and competencies

We provide continuous training and development opportunities to strengthen our business capabilities and enable our employees' professional growth. The professional, technical and safety trainings are important in supporting our business and they form the majority of our training events. The focus on service and project performance management continued in 2022.

One of the key events was the launch of our Sales Academy to provide systematic and modular sales training. Caverion Sales Academy has had a great start in 2022. Our Sales Academy offers sales trainings and programs for all levels and customer facing roles at Caverion. It includes e-learnings and facilitated professional sales programs. We have been able to launch training development initiatives for all levels of sales proficiency during 2022 and the offering will be further developed and implemented in all divisions throughout 2023.

Other development activities in 2022

• ﴿ Our mandatory trainings in 2022 achieved a good completion rate overall
• ﴿ Our mandatory Code of Conduct eLearning achieved a very good completion rate (97%)
• ﴿ Our mandatory Information Security & Data protection eLearning achieved a very good completion rate (97%)
• ﴿ Training employees on sustainability is one of our targets and a company-wide sustainability eLearning was launched late 2022 with target deadline Q1/2023. In December 2022 already 30% of our employees had completed the newly launched eLearning.
• ﴿ The License to Lead program, locally implemented by Divisions, continued support line-managers who do not have previous experience in managerial roles in becoming an even better people leader.
• ﴿ Mentoring program to promote our culture of cross-sharing continued to its third round with mentees and mentors from four different divisions. The aim of the mentoring program is to accelerate the development of key individuals and share best practices in business-critical areas, such as customer service, performance management, the service and project businesses as well as leadership-culture based on strategic targets.
• ﴿ Industry division run a tailored Project Management Training program during 2022.
• ﴿ We started the first Project Manager trainee program pilot in 2022 in Sweden, with a target to build a talent pipeline for this critical competence area and to enhance talent growth into key positions in the project organisation. Through this we also aim to build the image that we are an interesting choice for engineering and technical students. First students start their journey in January 2023.

Collaboration with different educational institutes and schools is important and we have been active during the year. Many local campaigns and initiatives by different Caverion divisions have been building relations with both vocational schools and with universities of applied sciences in e.g. areas such as Security, Energy, Design & Advisory and Service.

In Norway we have established higher education in collaboration with the University of Technology within some of our Smart Technologies specialties (Security, Automation, Cooling and Ventilation) and these study modules also provide public study credits.

Apprentice programs are and important channel of resourcing

During the year, we offered apprenticeships to more than 700 young potentials across our company. In Germany we took in 60 new apprentices in 2022 and all together Germany employed over 200 apprentices during 2022. Norway employed over 250 apprentices in 2022. Sweden employed almost 100 apprentices. This is an important recruitment channel and builds good cooperation with the vocational schools.

We also brought new professionals and competences to our workforce in e.g., Smart security services, refrigeration, technical engineering and automation, as well as consultancy and services for wind power industry.

Diversity, equity and inclusion

We respect people as individuals, embrace difference and foster inclusion. Diversity, equity and inclusion are high priorities for us and therefore the work to enhance these topics is an integral part of our target to create a Building Performance culture and to become the most attractive employer.

To us, diversity and inclusiveness are critical elements in creating value for our customers, business partners, employees and shareholders. Wherever we operate, we are committed to creating a working environment that is inclusive, fair and flexible, and promotes personal and professional growth. We want to pay special attention to gender equality and to our ability to offer an interesting and safe working environment for all.

We believe that through a diverse and inclusive work environment we will be able to be an attractive employer and to further enhance our performance. It is important for us that all our employees feel included and valued.

During the year, the main focus was on increasing awareness. For example, the campaign raising awareness on the harassment topic, initiated in 2021, continued in 2022. In addition, diversity and inclusion had a central role in the implementation of the company's values during the year and they formed one of the key themes in the annual Leader Forum. In the Leader Forum our leaders were trained on Unconscious Bias.

In 2022, we published the handbook "Managing misconduct and ethical concerns". This practical handbook was developed to make sure that everyone at Caverion can and will promote our values when it comes to ensuring a respectful, fair, and open work community. The handbook tells how ethical concerns can and should be addressed at Caverion, and it also demonstrates how those concerns are escalated and investigated.

In 2022, 11% of the employees were female. Our Board of Directors represents 5 nationalities and 29% of the members are female. Of the Group Management Board members, 23% are female.

We are actively raising awareness on this topic, and we encourage best practice sharing. We have been training managers on topics such as what discrimination, harassment and sexual harassment are and how to work with proactive initiatives. We have also done community donations locally and achieved local awards on work done in building a more inclusive working environment.

Read more about human rights on page 29.

Reward

We have a company-wide reward strategy, which is designed to support our intention of having top performance at every level within the guiding principle of Pay for Performance. The key reward principles, reward elements and practices are described in our Reward Guidelines, which are available to all our employees in local languages.

We treat our people in a fair and consistent manner and aim for a clear communication of reward. All reward related decisions must be approved at least by the manager's manager and HR to comply with our Corporate Governance Guidelines.

In 2022, our key reward focus continued to be on the transfer of the Caverion wide annual reward and performance processes into our new people management system. This will allow us to further harmonise our Pay for Performance implementation across our countries.

Our job structure enables us to have enhanced transparency by job levels and improved equal pay analysis. A consistent methodology supports our aim to pay equally for the same job with the same performance and better enables us to take into consideration the talent drivers, business needs and market practices in all reward related decisions.

Our Remuneration Report 2022 follows the requirements from the Corporate Governance Code 2020 and gives our investors a clear picture of the 2022 remuneration of our governing bodies i.e., the Board of Directors and the President and CEO, and how their remuneration is related to company performance.

Golden Helmet and Leadership Awards

For the ninth time in our history, Golden Helmet awards were given to employees or teams for their excellent performance in our important strategy areas and for acting as role models. All our employees had the chance to nominate a colleague or a team for the awards. We received over 160 nominations. The categories were Excellent customer experience, Sustainable solutions, Top performance, Winning team, Safety and Sales.

The Leadership Award was a new award for 2022 initiated by the Caverion Group Management Board. It gives special recognition to exemplary and outstanding leaders. Our Leadership award is specifically honouring the leadership behaviours and results from an employee who truly leads by example. In 2022, the award was given in 3 categories. The award ceremony was held at the Leader Forum in June.

Governance | Ethical operating culture

Ethical operating culture

Contributing to the United Nation's Social Development Goals:

Key performance indicators:

	2022	2025
		Actual Target
Ensuring sustainable value chain
Supplier Code of Conduct sign-off rate (%)	74%	>90%
Our tender requests include sustainability criteria		100%

Leading sustainability

During the fall of 2021 we conducted comprehensive work to clarify our sustainability strategy. The objective was to ensure that sustainability is integrated into our overall strategy development. This helped to create a shared understanding of the role of sustainability in our future strategy and business as well as of sustainability opportunities and risks across the value chain. The work was conducted in a highly collaborative manner with sustainability-focused operational colleagues across all divisions as well as subject matter experts within the Group. The project steering consisted of the CEO and several Group Management Board members.

In 2022, the work done in 2021 and in the previous years was brought to life with concrete actions. We established a centrally led strengthened sustainability team that, in collaboration with our divisions, started steering our company-wide actions towards the sustainability goals communicated. During 2022, we focused first on mapping and on reducing our own CO2 footprint and ensuring that we have the tools and processes in place to be ready in 2023 ready to submit our footprint data to Science Based Targets initiative (SBTi) to start the science-based reduction of our CO2 footprint.

We also monitored closely our progress in our people related Sustainability KPI's and made action plans on how to keep delivering constantly improving results in these areas in 2023 and onwards. We also set up the structure for our Handprint Centre of Expertise. This function will, in collaboration with our Advisory Business Centre of Expertise also established in 2022, ensure we can in the future deliver even better services to our customers regarding energy efficiency, including savings that and that we can monitor, then report these outcomes in a reliable and transparent way.

Committed to Global Compact

We committed to the UN Global Compact and its universal 10 principles in 2021 and continued our actions in 2022 in line with these principles. By signing the Global Compact, we are committed to incorporating the initiative and its principles into our strategy and company culture – and communicating them to our employees, owners, suppliers, partners, customers, and the rest of our community. Our guidelines and sustainability targets are aligned with these principles.

Our policies and guidelines most strongly related to sustainability include for example:

• ﴿ Caverion Code of Conduct
• ﴿ HR Policy, including Diversity Policy
• ﴿ Caverion Supplier Code of Conduct
• ﴿ Procurement Guideline
• ﴿ Information security policy
• ﴿ Data protection policy

ESG risks

Environmental risks and impacts of our own direct operations are moderate due to the nature of our business. We are mainly not manufacturing products but operate as an expert in services and projects. Thus, the main climate and environmental risks originate from our supply chain. The products installed and maintained by us can, if not managed properly, have a potentially negative impact on the environment, for example through components, raw materials and chemicals used in the manufacturing of the products. In the future we aim to further strengthen our collaboration with suppliers that have a low environmental risk rate, and in 2022 we increased our supplier dialogue to further mitigate the environmental impacts of our offering.

The key risks related to social and employee aspects are linked to occupational safety and to the availability of qualified personnel. These risks can be potentially further fuelled by the effects of the COVID-19 pandemic or other global incidents of similar nature. The occupational safety risks are mitigated by continuously ensuring a proactive focus on the topic on all management levels and by conducting various safety initiatives such as trainings, campaigns and reminders. The availability of key talent is essential for our ability to conduct our operations. To manage this risk, we pay particular attention to recruitment, onboarding, resource flexibility and enhancing our digital capabilities as well as to the development our employer brand and company culture.

We primarily operate in developed, transparent markets. Potential human rights risks relate to the uncertainty or unawareness of how subcontractors conduct their daily business. The risks of a breach in the area of human rights are predominantly located further away in our supply chain. Through our ethical reporting channel, employees and suppliers can confidentially and anonymously report their observations of suspected misconduct. In addition, reports can be submitted via email. A separate Supplier Code of Conduct sets forth the requirements for suppliers regarding the respect of human rights. To ensure a sustainable value chain, we aim to further increase our Supplier Code of Conduct sign-off rate.

To manage anti-corruption and bribery related risks, we have made significant efforts to promote compliance in order to avoid any infringements. As part of the compliance programme, all employees must complete an annual e-learning and further training is given across the organisation. All new employees must familiarise themselves with our Code of Conduct and pass the mandatory e-learning. All employees are required to comply with our Code of Conduct, which has a policy of zero tolerance on anticompetitive practices, corruption, bribery or any unlawful action.

More information on compliance related risks and their management is presented in the Board of Directors' Report in chapter "Short-term risks and uncertainties".

Materiality assessment

We have aimed to identify the key sustainability themes and aspects for our company and our stakeholders. The results of this work are presented on the table on this page.

Reporting

We report sustainability-related information annually. The 2022 report complies with the GRI Standards guidelines of the Global Reporting Initiative (GRI) in accordance with the Core option. The content of the report includes key areas of economic, social and environmental responsibility. A comparison of the contents and the GRI Standards guidelines is presented on the pages 33-34. The key target groups of the Sustainability report are investors, shareholders, customers, suppliers, analysts, personnel, prospective employees, and other actors in the society. No external assurance was pursued for this report.

The previous sustainability reports are available at www.caverion.com/sustainability .

Material sustainability topics

Environment

Decreasing our footprint

• ﴿ Own fuel use in operations
• ﴿ Own electricity, heating and cooling
• ﴿ Purchased materials and services
• ﴿ Waste management
• ﴿ Logistics in operations
• ﴿ Employee commuting and business travel
• ﴿ Use of sold products and services
• ﴿ Circular economy
• ﴿ Biodiversity protection

Increasing our handprint

• ﴿ Expert guidance with sustainable outcomes and excellent customer experience
• ﴿ Developing sustainable and smart offering (e.g. Energy, Remote Services, Building Automation), with a focus on digitalisation, usability and flexibility
• ﴿ Contributing to low lifecycle emissions with reliable functionality and by supporting circularity
• ﴿ Providing healthy indoor climate for end-users
• ﴿ Collaboration with customers, suppliers, and partners

Social

Caring for our people

• ﴿ Health, Safety and Wellbeing
• ﴿ Diversity, Equity, and Inclusion
• ﴿ Company culture & values
• ﴿ Developing competences
• ﴿ Leadership skills & mentoring
• ﴿ Apprenticeship and collaboration with schools
• ﴿ Rewarding
• ﴿ European Works Council

Governance

Ensuring sustainable value chain

• ﴿ Compliance with Caverion Code of Conduct & legislation
• ﴿ Zero tolerance for corruption and bribery
• ﴿ Respect human rights, no child labour
• ﴿ Follow sponsorship guidelines
• ﴿ Information security and data protection
• ﴿ Optimal and ethical supply chain management
• ﴿ Supplier Code of Conduct and compliance

Supply chain

Suppliers play a significant role in our supply chain, as most of the technical systems and solutions designed and installed by us include components, materials or services purchased from suppliers. Despite the challenging market situation in 2022, we were successful in optimising the supply chain and managing costs and pricing.

Utilising supply base optimally

We have several common suppliers serving the demand throughout our operating countries, but a major part of purchasing is done locally in our operating countries using selected suppliers. We value close location of our suppliers and their ability to react rapidly to changing business needs. As a result, the majority of our suppliers are located in the countries in which we are operating. In 2022, the proximity of suppliers and strong cooperation with them proved again their value in managing the challenging market situation with pressures on increasing prices and with availability challenges.

Spend by 1st tier supplier country 2022

Business ethics in supplier relationships

We aim to build long-term relationships with our suppliers. We treat all our suppliers equally and honestly following applicable laws and regulations. We do not tolerate any form of bribery or other illegal payments in the relationships with our suppliers. We regularly evaluate our suppliers, follow their performance, and assess potential risks and we utilise a separate Supplier Code of Conduct with our suppliers. The Supplier Code of Conduct is available at www.caverion.com.

According to the Supplier Code of Conduct, suppliers, subcontractors, and other business partners shall:

• ﴿ Respect human rights arising out of international treaties, in particular the United Nations' Universal Declaration of Human Rights;
• ﴿ Comply with fundamental conventions as defined by the International Labour Organisation;
• ﴿ Assert that their own suppliers comply with requirements that meet or exceed the requirements laid down in our Supplier Code of Conduct.

In 2022, we continued the implementation of our Supplier Code of Conduct. At the end of 2022, 74% (2021: 66%) of our purchase volume was covered by the Supplier Code of Conduct. The improvement is due to consistent work across all our divisions, and especially Divisions Germany and Finland continued their strong performance while divisions Austria and Norway achieved a good increase. Business ethics and standards in some supplier relationships are governed by the supplier's own Code of Conduct that meets our requirements and is approved by us separately.

Supply chain as major contributor for sustainability

A major part of our environmental footprint consists of Scope 3 CO2 emissions from our purchased materials and services. Our supply chain also has an important enabling role in increasing our environmental handprint. Suppliers and partners play a significant role in contributing to sustainable and smart offerings.

Due to the importance of the supply chain, continuous development in this area is vital. Therefore, we will continue to focus on systematic supplier engagement and collaboration across the Divisions. To support these targets, we started in 2022 a supplier sustainability engagement program with selected key international and local suppliers. The initial collaboration discussions with the first set of key suppliers indicate that the key suppliers are already actively setting targets for emission reductions and executing concrete actions to achieve them. Furthermore, suppliers are increasingly developing more sustainable products and services that can well support our positive handprint offering

In the coming years, we aim at deepening the sustainability collaboration and engagement further and including more key suppliers in the process.

Regarding governance and sustainable value chain operations, further implementation of our Supplier Code of Conduct and its assurance are also crucial for ensuring a sustainable and ethical supply chain. During 2022, the follow-up of Supplier Code of Conduct sign-off rate has established its role as an integral part of Procurement reporting. This can be also seen in the results. We will focus on developing our supplier validation practices further in order to assure the compliance to Supplier Code of Conduct and sustainability requirements.

Stakeholder engagement

We are committed to being a sustainable business. This means that we are adding value to the society and to future business. To achieve this ambition, we conduct business in a financially, environmentally, and socially responsible way. This approach is integrated into the decision-making in our strategy and actions, always keeping in mind the expectations of the key stakeholders including:

• ﴿ customers,
• ﴿ employees,
• ﴿ partners and suppliers,
• ﴿ shareholders,
• ﴿ the communities in which we are present and
• ﴿ the global society we are part of.

Supply chain sustainability management was described in the previous chapter and more information on our employee engagement can be read in the Our peoplechapter.

Customer Experience is one of the lenses through which we evaluate everything we do

The focus on customer experience continues to be one of our key strategic themes. We want every interaction with Caverion to be perceived as reliable, transparent and professional and we want to deliver sustainable impacts to all our customers in accordance with our purpose and brand promise.

Our cross-divisional customer relationship management work has been further intensified and is ensuring that customer-specific insights are available to all involved teams, reports and processes are harmonised and optimised. This supports the goal of making collaboration with Caverion as easy and transparent as possible for our customers. Also, the increasing digitalisation of our field service enables our colleagues to provide even better service and ensures consistent and fast reporting and order processing, transparent invoicing and optimised scheduling.

Our closed-loop feedback process includes regular large scale satisfaction surveys amongst all our customers, specific segment or category feedback as well as touchpoint-based transactional measurement. We build on our strengths and scale up what works best; and we take any feedback for improvement into our roadmap of customer experience excellence actions which we drive on a Group, division, business unit, local and individual customer level.

In 2022, we were able to once again improve our Net Promoter Score (NPS) throughout our company by several points, for the 7th time in a row and after reaching a record high in 2021. We also achieved other great results in other key measures, such as our new Building Performance Indicator in which over 87% of our customers confirmed that we are fully delivering on our Building Performance promise. This means we provide expert guidance, deliver sustainable outcomes, are easy to work with, and have the end user in mind.

We were also able to welcome many new customers to Caverion via our acquisitions – and to add even more segment specific expertise to our offering and additional regional coverage within our geographical footprint. Our key focus in the integrations has been on making the benefits of the joint and extended expertise available to our new and existing customers as quickly as possible.

The skills and competence of our people, our local presence and customer proximity, the high quality of our work, our efficient operations and service attitude are creating a strong sense of loyalty and partnership from our customers and good opportunities for growing together.

Collaboration with employees on European Works Council

The European Works Council (EWC) agreement forms the foundation for international cooperation within our company. The objective is to promote cooperation, the dissemination of information and the exchange of opinions between the Group's management and our personnel.

The EWC convenes three times a year, in varying compositions. We have our annual EWC meeting, gathering all representatives, and in addition two Working Committee meetings, where both the preparation for the annual meeting as well as further discussions on topical issues take place.

EWC is a well-functioning and appreciated forum that develops and sustains our collaboration between the company and its employees on the European level and it serves well as an additional forum to our local collaboration in the countries. Our EWC annual meeting 2022 was held in June, and it was attended by 14 personnel representatives from Finland, Sweden, Norway, Denmark, Germany, Austria, Lithuania and Poland. Three group management representatives attended the meeting as formal participants, and in addition several management representatives gave presentations on different topical items.

Serving our shareholders

As a publicly listed company, we want to be a profitable investment for our owners. The aim of our investor relations is to support the appropriate valuation of the Caverion share by continuously and consistently communicating all essential information about the company to all market parties. Our investor relations also aim to increase interest in the company among equity and debt investors as well as analysts, to improve the loyalty of current shareholders and to reach new investors and analysts interested in the company.

Quality certified business for our customers and society

We apply high quality standards. 100% of our business is ISO 9001 quality certified.

ISO 9001 certified business

Human rights

In accordance with our Code of Conduct, we do not allow any kind of discrimination related to age, gender, nationality, social status, religion, physical or mental disability, political or other opinions, sexual orientation or any other factor. The Code of Conduct also provides active guidance towards improved equality and promotes gender equality and diversity.

Human rights safeguarded by international conventions are respected. We apply a zero-tolerance approach to discrimination, harassment or any unlawful act and do not permit any kind of bullying in the workplace.

We comply with labour laws and regulations in our operating countries. Employees have freedom of association and, in 2022, 93% of the employees were covered by collective bargaining agreements.

Aspects related to human rights are included in the company-wide Code of Conduct eLearning. In 2022, the eLearning was rolled out to all employees with an excellent completion rate of 97%. The training is also part of the employee onboarding during the first weeks of employment.

According to our Supplier Code of Conduct, suppliers, subcontractors and other business partners shall respect human rights by following international conventions, in particular the United Nations' Universal Declaration of Human Rights. They shall also comply with fundamental conventions as defined by the International Labour Organisation and ensure that their own suppliers comply with requirements that meet or exceed the requirements laid out in our Supplier Code of Conduct.

Anti-corruption and bribery

• ﴿ We apply a zero-tolerance approach to corruption, bribery and any anti-competitive practices and unlawful acts. To prevent corruption and bribery, we have several standard control processes as part of the sales and delivery of our services and projects. Checks and controls are conducted in tender preparation and procurement activities as well as in the delivery and execution phases. Among other things, these include monitoring, reviews, due diligence measures, approvals and the use of ethical reporting channels.
• ﴿ We have a compliance programme to ensure that all our business is conducted legally, ethically and in a compliant manner. We also have a Group-level Compliance unit and a network headed by the Compliance Officer. The compliance network aims to enhance a culture of integrity and responsibility all across the organisation. It builds leadership capabilities by rolling out the compliance programme locally, for example through training.
• ﴿ We also operate a Group Ethics & Compliance Committee consisting of the President and CEO, CFO, Group General Counsel, Head of HR and Safety and the Compliance Officer. The committee reviews the annual compliance plan and its progress, the compliance cases reported or otherwise identified and other Group-level ethics and compliance matters.
• ﴿ Regarding our relationships with our suppliers, we do everything in our power to reject bribery, corruption and white-collar crimes. We do not tolerate any form of bribery or other illegal payments.
• ﴿ We support open and fair competition in all our markets. We comply with the applicable legislation regarding competition in every activity and avoid situations where there is a risk that regulations concerning competition could be violated. A mandatory eLearning on competition law has been rolled out for all such employees who work in positions in which knowledge of this topic is especially important, such as in management, sales and procurement.

Digital responsibility

We process various types of information in our IT systems and we take significant actions to keep that information safe from unauthorised access and usage. Information could include our internal business data or other data that we process on behalf of our customers or other stakeholders.

We recognise our responsibility to process and manage all data in a secure way. In order to reach that objective, we follow best practices in information security and privacy. We possess an ISO/IEC 27001 information security certificate to verify that information security is managed in a structured way. Within the information security management system, we conduct several security audits, analyse risks, train employees, prepare policies and guidelines and install technical solutions to protect information processing.

For us information security sustainability means investing time, attention and capital in a way that mitigates risk, minimises cost and maximise effectiveness both now and in the long term.

In practice, we consider what sustainability means across the three pillars of information security: people, process and technology.

Sustainability with people

By giving people the skills to recognise potential information security threats, and by educating them on emerging security campaign tactics and the tools to report them, we create a legion of on-the-ground first responders. An

educated and engaged workforce is the front line of sustainable information security.

Sustainability in processes

We codify information security processes via documented policies, guidelines and automation. Even automated processes often require an element of human intervention that can create information security sustainability problems.

We have prepared efficient and sustainable information security process that save time, energy and attention, positively lowering information security risks.

Automated, user friendly and easy to use IT processes can reduce friction and improve information security sustainability.

Sustainability and technology

Information security sustainability sometimes overlaps with environmental sustainability, especially when it comes to the technology we choose. We prefer working with suppliers that support environmental, social and governance missions, such as cloud providers that power their data centres with renewable energy and companies that responsibly recycle servers, laptops and other gear when they reach end of life.

OUR APPROACH	ENVIRONMENT	SOCIAL	GOVERNANCE

GRI INDEX

	Disclosure Number	Disclosure Title	Location of Disclosure	Note
GRI 102:
General Disclosures 2018	102-1	Name of the organisation	Sustainability Report (SR) 2022 front page	Caverion Corporation
	102-2	Activities, brands, products, and services	SR 2022 page 5
	102-3	Location of headquarters	SR 2022 page 5
	102-4	Location of operations	SR 2022 page 5
	102-5	Ownership and legal form	Annual Review (AR) 2022 page 35
	102-6	Markets served	SR 2022 page 5
	102-7	Scale of the organisation	SR 2022 page 5
	102-8	Information on employees and other workers	SR 2022 page 5
	102-9	Supply chain	SR 2022 page 28
	102-10	Significant changes to the organisation and its supply chain	SR 2022 page 28
	102-11	Precautionary principle or approach	AR 2022
	102-12	External initiatives	SR 2022 page 5
	102-13	Membership of associations	SR 2022 page 5
	102-14	Statement from senior decision-maker	SR 2022 page 6
	102-15	Key impacts, risks, and opportunities	SR 2022 page 26
	102-16	Values, principles, standards, and norms of behavior	Caverion website	www .caverion .com/about-us/caverion-in-brief/strategy
	102-18	Governance structure	Caverion website	www .caverion .com/investors/corporate-governance
	102-40	List of stakeholder groups	SR 2022 page 29
	102-41	Collective bargaining agreements	SR 2022 page 19
	102-42	Identifying and selecting stakeholders	SR 2022 page 29
	102-43	Approach to stakeholder engagement	SR 2022 page 29
	102-44	Key topics and concerns raised	SR 2022 page 8
	102-45	Entities included in the consolidated financial statements	AR 2022
	102-46	Defining report content and topic Boundaries	SR 2022 page 27
	102-47	List of material topics	SR 2022 page 27
	102-48	Restatements of information		No restated information
	102-49	Changes in reporting	SR 2022 page 9	All employees trained in sustainability KPI
	102-50	Reporting period		1st of Jan . – 31st of Dec . 2022
	102-51	Date of most recent report		March . 2022
	102-52	Reporting cycle		Annual
	102-53	Contact point for questions regarding the report		sustainability@caverion .com
	102-54	Claims of reporting in accordance with the GRI Standards	SR 2022 page 27	Caverion Corporation
	102-55	GRI content index	SR 2022 pages 33-34
	102-56	External assurance	SR 2022 page 27

OUR APPROACH	ENVIRONMENT	SOCIAL	GOVERNANCE

GRI INDEX

	Disclosure Number	Disclosure Title	Location of Disclosure
GRI 103:
Management Approach	103-1/2/3	Management Approach 301	SR 2022 page 26
GRI 201:
Economic Performance	201-1	Direct economic value generated and distributed	AR 2022 page 22
GRI 205:
Anti-corruption	205-1	Operations assessed for risks related to corruption	SR 2022 page 31
	205-2	Communication and training about anticorruption policies and procedures	SR 2022 page 31
	205-3	Confirmed incidents of corruption and actions taken	SR 2022 page 31
GRI 206:
Anti-competitive Behavior	206-1	Legal actions for anticompetitive behavior, anti-trust, and monopoly practices	SR 2022 page 31
GRI 302: Energy	302-1	Energy consumption within the organisation	SR 2022 pages 11-13
	302-2	Energy consumption outside of the organisation	SR 2022 pages 11-13
	302-3	Energy intensity	SR 2022 pages 11-13
	302-4	Reduction of energy consumption	SR 2022 pages 11-13
	302-5	Reduction in energy requirements of products and services	SR 2022 pages 11-13
GRI 305:
Emissions	305-1	Direct (Scope 1) GHG emissions	SR 2022 pages 11-13
	305-2	Energy indirect (Scope 2) GHG emissions	SR 2022 pages 11-13
	305-3	Other indirect (Scope 3) GHG emissions	SR 2022 pages 11-13
	305-4	GHG emissions intensity	SR 2022 pages 11-13
	305-5	Reduction of GHG emissions	SR 2022 pages 11-13
GRI 403:
Occupational Health and Safety	403-1	Occupational health and safety management system	SR 2022 pages 20-21
	403-2	Hazard identification, risk assessment, and incident investigation	SR 2022 pages 20-21
	403-3	Occupational health services	SR 2022 pages 20-21
	403-4	Worker participation, consultation, and communication on occupational health and safety	SR 2022 pages 20-21
	403-5	Worker training on occupational health and safety	SR 2022 pages 20-21
	403-6	Promotion of worker health	SR 2022 pages 20-21
	403-7	Prevention and mitigation of occupational health and safety impacts directly linked by business relationships	SR 2022 pages 20-21
	403-8	Workers covered by an occupational health and safety management system	SR 2022 pages 20-21
	403-9	Work-related injuries	SR 2022 pages 20-21
	403-10	Work-related ill health	SR 2022 pages 20-21
GRI 404:
Training and Education	404-2	Programs for upgrading employee skills and transition assistance programs	SR 2022 page 22
GRI 406:
Non-discrimination	406-1	Incidents of discrimination and corrective actions taken	SR 2022 page 31
GRI 419:
Socioeconomic Compliance	419-1	Non-compliance with laws and regulations in the social and economic area	SR 2022 page 31

OUR APPROACH ENVIRONMENT SOCIAL GOVERNANCE

35 Sustainability Report 2022 © Caverion Corporation Public