What: 

Incorporated in Norway in 2021, Cadre is acquiring, developing, and operating renewable power-producing assets. Based on its portfolio of 8 hydropower plants, Cadre is committed to ensuring that its assets are sustainable over their lifetime and remain equitable for the investors, the economy and the society. Being a frontrunner in clean energy production, Cadre is focused on investing in suitable projects to ensure that new infrastructure assets are built sustainably and long-lasting. To make decisions towards more sustainable solutions, Cadre needed a system to make it possible to compare, assess and improve.

How: 

In timely manner, the EU came up with the EU taxonomy framework to help companies to guide investments towards a sustainable future. Even though they are not required to report yet, Cadre pursued incorporating EU taxonomy in their processes. Since the goal is to use EU taxonomy for continuous improvement and management, it was crucial for Cadre to have full ownership of the process. Consequently, Cadre decided to use Celsia as a tool for EU taxonomy scoring. For now, Cadre assessed a part of their hydropower plant stack. They plan to continue assessing all their plants to collect data, gain an overview and improve if needed. The Celsia platform and the full ownership of the EU taxonomy allows Cadre to add documentation and financials at their own pace with space for experimentation for future planning.

Impact: 

After assessing parts of their plants, Cadre gained insights in how to interpret EU taxonomy criteria relevant for their industry. The knowledge and the results enriched them with an additional understanding regarding the implications of their existing and future hydropower plants. Together with the Celsia team, Cadre also obtained profound knowledge on how to break up their financial accounting into the EU taxonomy’s KPIs (turnover, CapEx, OpEx). Now, Cadre can continuously calculate their future score while trusting that Celsia is up-to-date with relevant requirements for their industry and country.

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