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Bastant II 2

Sustainability reporting

Bonheur has a strong commitment towards integrating sustainability and social responsibility into its businesses, as this forms the base of a sound long-term business model and supports the decarbonisation of society and reduces the environmental footprint in our activities.

Download Bonheur Sustainability report 2022

Figurehead Bastant (II) by artist Nils Flakstad.

The Company was a pioneer

In recognising the need to develop renewable energy sources and has for more than 25 years established numerous companies within the renewable energy sector, covering the entire value chain from developing to constructing and operating onshore windfarms as well as installation and service of both onshore and offshore windfarms.

Bonheur is committed to driving progress and continue pushing boundaries. Through improvement of the existing operations within subsidiary companies, the development of new technologies, and strategic investments with a long-term focus on sustainability. The
Company has investments in subsidiaries owning vessels with a CO2 footprint. Pursuing innovative ways to reduce fuel consumption and reduce emissions are important and high on the agenda.

The Company focuses on integrity and ethical standards, and this is reflected into the respective companies' Code of Conduct

All employees and suppliers are expected, to behave and conduct their business in accordance with the principles of such codes. It is equally rooted within the Group of companies that an active and sound corporate governance environment is essential to delivering a sustainable investment strategy that aligns with the best interests of the shareholders, employees and the society. Social awareness and active engagement with local stakeholders and communities are  prerequisites for successful investments. 

It is part of the inherent operating philosophy to focus on training  and employing people from the local communities where practically possible and to ensure good working conditions, honouring labour  rights and promoting diversity.

Given the importance of sustainability, the main operating subsidiaries have further strengthened and enhanced their sustainability reports over the previous years

This report should be read in conjunction with the Board of Directors report and vice versa.

The structure of the sustainability report is firstly to describe how the Company is governed with emphasis on transparency in corporate governance, with the composition and independence of both the Shareholders Committee and the Board of Directors and with internal control procedures in general. Secondly, the sustainability report describes the environmental aspects showing that the Group of companies consolidated has a significantly positive CO2 footprint resulting from the direct contribution from the wind farms and the indirect contribution from the Wind Service segment which are actively involved in transport, installation and service of wind turbines.

The sustainability report elaborates on the Green Finance Framework which was established in 2020 and updated at the turn of the year 2022. Furthermore, the report describes the human resources aspects of the Group of companies, which strives to provide a good and safe working environment, equal opportunities without any discrimination and compliance with all applicable codes of conduct and anti-corruption policies. Eventually, the sustainability report describes the kind of local engagements in the countries of operations through employment of local people, taxes paid and the predominantly philanthropical contributions by the Fred. Olsen Social Engagement Group (FOSEG).

The sustainability report outlines both the commitment towards genuine environmental-friendly initiatives such as over 2TWh production of renewable wind energy, new offshore wind and floating solar development projects, and also highlights ongoing efforts to reduce CO2 emissions in our operations.

Respective operating subsidiaries sustainability reports:

Fred. Olsen Renewables   Fred. Olsen Windcarrier

 Global Wind Service Fred. Olsen Cruise Lines