Sustainability Report 2024
Here you can see a small taster of our 2024 Sustainability Report. Download the full report here.
CONTENTS
Strengthening our governance & sustainability team
A message from our team
Staying ahead: Leadership, growth and meaningful impact
This year was defined by growth and embracing a streamlined and rigorous approach to green investment. For us, this means carving out our own unique and forward-leaning path while at the same time aligning with regulations.
2024 highlights
We made two new platform investments this year that reflect our team’s expertise and experience and willingness to explore new frontiers. BFI Automation and Eco Physics are the first in a group of companies under the name Project Measurement, dedicated to monitoring and measurement – a sector where we’ve witnessed a significant increase in demand. Our venture into new areas like semiconductors and space technologies with Microbas introduces us to a wealth of sub-industries and emerging markets. These companies clearly show our updated
Impact Framework in action.
One of the key moments of 2024 for Alder was our recurring Executive Meetup, where we gathered representatives from our team and portfolio companies for two days of learning, exchange of ideas and, of course, some socialising. It was an invaluable chance to renew our collective enthusiasm and emphasise to all our companies how sustainability creates value, increases sales and sets our portfolio companies apart from their competitors.
We strengthened our Impact Framework for Sustainable Investment in 2024, which we will fully roll out in 2025. The Framework combines our four investment themes with our sustainability objectives and is guided by key industry needs in sectors essential for the transition. By enhancing impact evaluation during assessment and onboarding, we can make more strategic investment decisions and influence the companies at an early stage. This approach streamlines our processes and allows us to meet our investors with a more transparent and confident picture of our impact. Read more on page 17.
This year, we strengthened the Alder team by recruiting an Investment Director, Investment Controller and Chief Financial Officer. These roles enhance our ability to invest with impact by strengthening risk management, optimising financial planning and reporting strategic investments.
Navigating a complex world
While 2024 saw many highs, it was not without its hurdles. Ongoing global challenges like economic uncertainty, war and persistent supply chain disruptions created a complex environment and an economic downturn in some markets, which has affected our work.
Greenwashing has become increasingly prevalent in our sector, with countless companies marketing their offerings as sustainable without substantiation. However, our experience, established networks and robust processes allow us to navigate the market and identify which companies genuinely create positive change.
Since we started, the world of green investment funds has exploded, and EU regulations have begun to standardise the criteria for green investments. But being here from the start, we’ve seen the twists and turns and have stood the test of time with leadership and determination. We remain steadfast in our beliefs; we know what works, what doesn’t and what truly creates impact.
Looking ahead
During 2025, we’re looking forward to developing our strategic approach to value chain thinking even further – unlocking opportunities not just in the companies we invest in but also in all the sub-industries within their value chains. We’re also keen to see the full rollout of our developed Framework. Fund III investments have already demonstrated the value of this forward-leaning approach, and we are excited to see it fully operational.
We’re thrilled to start seeing what began as a Nordic-focused fund now branching out into Europe, with portfolio companies that have a customer base and, therefore, a positive handprint worldwide.
As always, we extend a huge thank you to our entire team and all our portfolio companies who continue to show enthusiasm for adaptation and strategic growth.
Below you can find highlights from the 2024 report, and if you’re intrigued to read more, please download the full report.
A snapshot of Alder in 2024
3
Funds
11
Companies
1
Exits
2
New platform investments
8
Add-on acquisitions
1200+
Employees across all portfolio companies
14
Alder employees
48%
CO2 emissions intensity reduced compared to 2023
3 bn SEK
In revenue
>90%
PRI score
Article 9
For all funds
Strengthening our governance and sustainability team
In 2024, we added two key hires to boost our governance
framework: Johanna Strömqvist as Chief Financial Officer and Felicia Jakobsson as Investment Controller.
As CFO, Johanna ensures rigorous financial controls, systematic processes and transparent reporting. Her leadership strengthens risk management and accountability. Felicia’s role as Investment Controller focuses on developing robust impact measurement and reporting systems. She enhances transparency, refines metrics and establishes data-driven processes to align financial and sustainability goals.
Together, Johanna and Felicia play a pivotal role in integrating financial and sustainability priorities, ensuring Alder’s investments are managed with integrity and transparency and aligned with our mission for value creation and measurable outcomes.
The Alder Impact Framework for Sustainable Investment
The Impact Framework aligns with the EU Taxonomy objectives while expanding to address a broader range of environmental impacts and solutions. It is built around eight key environmental objectives that feed into Alder’s four investment themes. The aim is that each portfolio company must contribute to one or more objectives to drive both positive environmental outcomes and long-term value creation, and this is assessed at the investment stage and monitored throughout ownership.
A minimum of 50% of the investment cost for all portfolio companies must be linked to the key environmental objectives in the Alder Impact Framework. This ensures that every investment actively supports environmentally sustainable initiatives. Abiding by this standard means that capital is allocated to drive meaningful environmental impact, with portfolio companies contributing by increasing their handprint and reducing their environmental footprint.
Portfolio level
Every investment must ensure that at least 50% of the sales are linked to green activities, with a goal to increase the sales of green activities by 100%, actively driving more capital towards sustainable initiatives.
2024 investments
Autumn 2024 was a busy period for Alder as we completed two new investments that continue to develop Alder III portfolio.
Project Measurement
In September, we invested in Project Measurement (the name of the Group will change once registered), which today consists of two subsidiaries BFI Automation and Eco Physics.
BFI Automation, an industry leader in the manufacturing and development of flame scanners and flame monitoring systems. Right at the end of the year, we also bought Eco Physics into the group, a company offering innovative analytical solutions for measurement tasks in the fields of environment, health and process control.
Project Measurement will grow with more acquisitions and offer monitoring and measuring expertise. Read more on pages 49-51.
Microbas
Shortly after, we announced the acquisition of Microbas, a pioneer in manufacturing the niche, high-precision components required for the global semiconductor, cleantech, display, space and optics industries. Read more on page 52-54.
Our geographical reach
From the beginning, we focused on investments in the
Nordic region. Over the past couple of years, we have
extended into Europe, with Insort in Austria and, in
2024, Project Measurement in Germany.
Our portfolio companies have a reach beyond where they are headquartered, with customers spanning the globe.
Portfolio companies 2024
Click on the logos to see the sustainability performance for each portfolio company.
