Climate-related risks and opportunities
Climate change and the increased frequency of natural disasters will increasingly affect Ocab’s business.
Climate change is impacting people and communities in various ways, and businesses must adapt and find new solutions. Ocab manages external factors through systematic risk management to identify risks and find new business opportunities.
Climate change entails rising sea levels and temperature increases that are likely to intensify demand for managing the resulting damage.
To limit risks while maintaining competitiveness, it is essential to work with a focus on both risks and opportunities.
For Ocab, this means reducing the worst effects of climate change and further increasing our positive impact on society.
Climate change
Dependence on fossil fuels has been making the world and climate increasingly vulnerable and unpredictable for a long time. Natural disasters and their consequences will become more frequent.
The EU has begun to apply clearer regulations and guidance to address the changing climate in recent years. The scope of laws and requirements will expand to ensure a maximum temperature increase of 2 degrees, in line with the Paris Agreement.
Damage management
Ocab’s area of expertise is the management of unexpected events, such as fires, water damage and natural disasters, on behalf of property and insurance companies. Taking the correct action in a situation involving acute damage is essential for successfully saving physical and financial value. The first measure also lays the groundwork for the next steps in the claims process and opportunities for circular flows. There are two ways to regulate and manage damage:
The traditional method is a linear model that involves replacing all or part of what has been damaged. This method leads to increased waste and the need to produce new materials.
Circular methods and flows are based on innovative approaches that focus on keeping fully functional materials in the cycle. The method is efficient in terms of economic and environmental resources.
Ensuring sustainable development in the property damage restoration services industry requires that circular solutions become the default choice. Otherwise, Ocab and the rest of the industry are at risk of contributing to increased emissions and costs.
Strategy and measurability
Since 2021, Ocab has worked to further develop and refine methods to increase the circularity of customer projects. This has been done by creating measurability and understanding of the climate impact of each individual task and project.
We believe it will become increasingly important to offer our customers the best possible basis for decisions, in order to balance economic benefit and environmental savings. Ocab’s development projects have clear links to savings opportunities when applying circular models, which means that resources are properly allocated.
With innovative work methods, we believe we can contribute to more satisfied end customers, shorter lead times and reduced damage costs, ultimately contributing to lower deductible premiums for the policyholder.
Financial sustainability
For Ocab, financial sustainability means creating a long-term and stable business by reducing operational risk-taking and contributing to good resource utilisation.
Ocab operates in an industry that is fundamentally sustainable and has worked to promote a good environment since the company was founded in 1964.
Materiality matrix
We manage sustainability risks according to Environmental, Social and Corporate Governance (ESG) and have divided the risk matrix according to ESG to cover the company’s areas of responsibility.
Read more about our strategy