The Elvaco business model is built on the foundations of a sustainable world.
By creating business built on a sustainable development, Elvaco has a place today and in the future! By providing products and services that reduces the overall energy consumption, Elvaco has a positive impact in the sustainable world.
Elvaco is today enabling thousands of companies around the globe to become more energy efficient by continous innovation and new solutions within energy connectivity.
- Utilities - by solutions for correct metering, billing and grid optimization
- Real estate companies - with solutions for sub-metering and indoor climate control and optimization
- Service providers - that in different ways optimize energy usage in various segments
Save energy with Elvaco's solutions
- Almost 40% of all energy usage in the world is today used within properties and real estate
- Hence, there is an enormous potential to save resources by becoming more energy efficient
- With correct solutions our customers can save the total energy usage with normally 10-30%
- We have examples where the electricity usage has been reduced by 50%!
Selected sustainable development goals
On January 1 2016, the 17 Sustainable Development Goals— adopted by world leaders in September 2015 at an historic UN summit— officially came into force. The overarching goal is to remove poverty in the world. We have selected three development goals, which are corner stones in our business model.
Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all - By 2030, double the global rate of improvement in energy efficiency
Goal 9: Drastically increase access to information and communication to extend digitalisation
Goal 12: Ensure sustainable consumption and production patterns - By 2030, achieve the sustainable management and efficient use of natural resources
The 17 global sustainability goals
The 17 Sustainable Development Goals and their accompanying 169 targets built on the success and milestones achieved by the Millennium Development Goals (MDG) set in 2000, which until 2015 focused on reducing hunger, poverty, disease and gender inequality, among other issues. Building on this momentum, the SDGs are broader in scope and go further towards addressing the underlying causes of poverty and the universal need of achieving development that benefits all people. The goals encompass the three elements of sustainable development: economic growth, social inclusion and environmental protection. The SDGs acknowledge companies as key players in achieving these goals.
In light of these new developments, Elvaco has strengthened its commitment to sustainability throughout its value chain, in all of its activities and therefore the impact those activities have on the company stakeholders. Elvaco now undertakes a new commitment to the 17 Sustainable Development Goals, embracing the route to sustainability chartered by these goals.
This commitment extends to the entire company and includes all 17 SDGs and their targets, although certain principles are especially relevant to the company given its industry, context and business model.
Elvaco has also instituted sustainability policies that are integrated with value creation in its business model and represent another step toward achieving the SDGs and their targets.
A summary of Elvaco sustainability policy
Elvaco strives for its activities to contribute to sustainable development with regard to economic, environmental and social sustainability. We continuously develop our business responsibly in order to contribute to a sustainable future for future generations. Sustainability work will permeate the entire business, which means that Elvaco is perceived as a good social actor who adheres to rules and laws and is responsible for good business ethics and clear values.
The policy applies to all employees, hired labour and suppliers.
Our sustainability policy fundamentals are divided into three areas: social, environmental and financial.
Economic growth and profitability are a prerequisite for us to develop our business and thus increasing the chance of achieving long-term sustainable development. Through our Code of Conduct, we ensure that we conduct our business in a professional, safe, ethical and responsible manner.
We perform by
- Prevent corruption and we have zero tolerance against all kinds of corruption
- Complies with competition laws and environmental legislation
- Protects fundamental human rights with us as well as with our suppliers
This is supported by the constant training of our staff on our code of conduct in the field of environment, work environment, social responsibility and ethics, as well as our anti-corruption policy. We also perform supplier audits to asure policy compliance.
Elvaco strives to provide workplaces that are healthy and safe based on principles of justice and mutual respect for each other. All employees should contribute to a healthy corporate culture based on respect for people's equal value, openness and honesty.
We value skills and diversity by
- Having zero tolerance regarding discrimination and all kinds of negative treatment
- Always prioritizing skills when recruiting
- Continuously developing our employees
- Protecting our employees health and safety by providing a safe and healthy workplace
This is supported by indidivual development plans and real-time employee surveys, which gives us possibility to take immediate actions if necessary. We work on a clear recruitment policy, which always includes an interview with management staff, and actively works to counteract all forms of discrimination. We respect social and cultural diversity among our employees and strive to attract and retain the best talents on the market.
Elvaco, as a part of Latour, supports Solvatten and their project to supply clean and hot water to people in Burkina Faso and Uganda. Solvatten enables more people improved health, hygiene and living condition.
Investment AB Latour and its wholly-owned operations have been in collaboration with Solvatten since 2018. In the recent project report, numbers show that we have enabled clean water to 7500 people in Uganda by supporting them with 1344 Solvatten containers. By using Solvatten, the people get safe, hot water without having to use charcoal or firewood. This means that one Solvatten can save approximately 49 trees during its lifetime.
Solvatten® is a Swedish innovation that purifies water by using nothing but solar energy. It opens like a book, and after a few hours in the sun the water is free from waterborne bacterias that would otherwise cause stomach diseases such as dysentery and cholera. Compared to other water purification methods, Solvatten simultaneously heats the water. By combining safe and hot water, beneficiaries can improve both health and hygiene trough a sustainable source of energy.
Elvaco strives to continuously seek ways to reduce and cope with all the resources in operations; economic resources, natural resources as well as human resources in order to improve it total environmental impact from our operations and our products.
We have a safe and efficient management of resources where we:
- Environmental work should be actively and in cooperation with the employees
- All processes should be developed to minimize the environmental impact. Waste must be sorted and disposed of for recycling or destruction and input materials should be selected based on the most environmentally friendly options.
- Applicable laws and regulations in environmental legislation must be observed
- Significant and / or company-critical subcontractors to Elvaco must be ISO certified
14001 and ISO 9001 or similar