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Vardar – ESG risk research and ESG rating

We at sustainAX have ESG risk researched and ESG risk rated Vardar and our clients can access the reseach on their Bloomberg terminals.

Vardar is in the materiality based sector of UTILITIES.

Our ESG risk research of Vardar

Our approach to ESG research is fundamental, that means that we have studied all relevant publications by Vardar and combined this with fundamental understanding of ESG challenges and risks of different activities and for the UTILITIES sector. This makes us well placed to estimate the ESG risks of Vardar. We have published a 33 pages ESG research report on Vardar with a conclusion highlighting the most important residual risks, a section suggesting how it should be integrated in investment decisions and a list of all the questions we think should be asked to Vardar.

More about our ESG risk research here:


60-80 of 100

Low risk

Where 100 is the lowest ESG risk and 0 is the highest risk.

*The ESG, E, S and G risk rating ranges indicate to what degree Vardar has addressed and mitigated their material ESG risks according to the sustainAX materiality matrix. sustainAX’ clients have access to the exact ESG risk rating. 

**The weight in the aggregated ESG rating

Environmental RISK RATING* and WEIGHT** for Vardar:
80-100 of 100 Very Low risk
Social RISK RATING* and WEIGHT** for Vardar:
40-60 of 100 – Middle risk
Governance RISK RATING* and WEIGHT** for Vardar:
60-80 of 100 – Low risk
About the company:

Vardar is an energy and investment company. The company directly owns hydropower plants, wind power plants and district heating plants, owns 50% of the integrated energy group Glitre Energi, and has ownership in various companies related to renewable energy and the green shift. The head office is located in Drammen. The group's business areas are organized in various subsidiaries and affiliated companies, and include the business areas: Glitre Energy, Hydropower, Windpower and District Heating.

Are you interested in the ESG research and ESG rating?

If you are interested in the ESG risk research and ESG risk rating of Vardar, contact us at sustainAX!

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