Hexagon Annual Report 2019

53 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS Sustainability Report Why are environmental, social and governance factors so important to us? The simple answer is that controlling these factors is prudent risk management. At Hexagon we take ethical, environmental, social, and governance issues into account in every business decision we make. Our vision is enabling Clean Air Everywhere and our purpose is Driving Energy Transformation. In other words our model centers around sustainability, therefore these elements are an integral part of Hexagon’s overarching goals. Climate change, one of the world’s greatest sustainability challenges, hits Hexagon right in the heart of its vision and purpose. The transport sector is the fastest growing contributor to climate emissions. The main growth driver of global transport energy demand and related emissions is land transport, mostly through passenger cars and freight transport. According to the Intergovernmental Panel on Climate Change (IPCC) the transport sector produced 8.0 billion tons of CO2 equivalent greenhouse gas emissions in 2018 and was responsible for approximately 24% of total energy-related CO2 emissions. Meanwhile in developing countries, many people rely on biomass such as firewood, charcoal and waste to meet their energy needs for cooking and heating. The World Health Organization estimates that around 3 billion people still use biomass as fuel to cook. This often results in unsustainable harvesting practices, as well as illness and premature death from indoor pollution. TIME FOR ACTION