Impact measurement
Stedin Group's value creation model is based on the six capitals of the International Integrated Reporting Council (IIRC). Stedin Group's actions have a positive as well as a negative impact on society. For each capital, we show our key input topics and output results. We also highlight our value for society.
Positive and negative impact on society
The table on the next page provides qualitative as well quantitative insight into the added value of our social impact on stakeholders. The six capitals in the centre of the table represent the baseline. The increased value due to the benefits of what we do for society is shown above the baseline, and our decreased value consisting of the costs as well as any inconvenience associated with what we do is shown below the baseline. The information under the 'Financial' capital is in line with the IFRS figures from the 2021 financial statements and is quantitative. We report other quantified impacts in ranges. Our qualitative indication of all unquantified impacts offers insight into the relative scope of our social impact on society. We then explain the six capitals and the way in which they cause capital value to increase or decrease in an overview. Through our impact, we contribute to the UN Sustainable Development Goals.
IMPACT |
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Result of impact measurement | ||
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Concept | Increase of capital value | Decrease of capital value |
Financial | ||
Incoming and outgoing cash flows have a positive as well as a negative impact on society (SDG 7, 8, 11). | Payments to suppliers and employees, tax paid, dividends, interest and repayments are considered to be capital that is invested in society. In total is this amounted to €4,574 million. | Capital raised for the financing of activities, third-party payments, other revenue as well as financial expenses for both business and private customers are considered to be capital that is withdrawn from society. This amounted to €4,445 million in 2021. |
Produced | ||
Stedin Group's produced capital mainly consists of energy transmission and distribution (SDG 7, 9, 11, 12). | The availability of energy, taking into account failures and outages, contributes to the welfare and well-being of private as well as business customers. Stedin Group created between €3,800 and €4,640 million in value for society in 2021. | The products and services intended for our infrastructure, which Stedin Group receives from suppliers, therefore increase in value. These products and services cannot be invested in society. Thus, between €2,200 and €2,700 million in value was withdrawn from society in 2021. |
The value of our assets increases, which benefits society. | ||
By investing in digital security, Stedin Group minimises undesirable data exchanges. As a result, the online security of society improves. | ||
Intellectual | ||
By investing in knowledge development, Stedin Group creates capital (SDG 9). | Stedin Group actively invests in knowledge development for future grid management. This approach raises the value of our intangible assets, creates new market models/platforms and improves/increases data processing. Its application creates value for us and for society. | |
Social | ||
Our social capital is defined by how the public values Stedin Group and our activities (SDG 11). | Improving the reputation of Stedin Group increases customer satisfaction, reduces recruitment costs and creates new opportunities for cooperation. This increases our potential to create long-term value for society. | Leaking privacy-sensitive data has a negative social impact and results in loss of value. |
Human | ||
Stedin Group affects the well-being of its employees both positively and negatively (SDG 8, 11). | Having a job positively affects the well-being of the relevant employee. As an employer, in 2021, we contributed between €40 and €50 million to the well-being of our employees, and hence to society. | Work-related absenteeism and accidents reduce the well-being of the people involved, as do safety incidents. As an employer we cause these situations and consequently decrease well-being in society for a value between €0.25 and €0.35 million in 2021. |
All employees devote time to their job. The total value of this time is between €35 and €45 million in 2021. Since this time cannot be spent elsewhere, we withdraw its value from society as an employer. |
Natural | ||
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Our normal business operations affect the climate, nature and the environment (SDG 12, 13). | Our normal business operations emit CO2, which, in 2021, had a negative impact between €125 en €175 million on climate, nature, the environment and hence society. | |
As we are unable to recycle 100% of the materials used, the resulting waste causes ecological damage. This negative impact over 2021 is valued between €9 and €11 million. Furthermore, the purchase of materials caused ecological damage which caries a negative impact between €0.1 and €0.2 million in 2021. |
