Our Corporate Social Responsibility Policy
Teraloop was founded to conduct inherently responsible and sustainable business activities. Our mission is to enable sustainable energy value chain. Our company goal is prosperity through access to sustainable energy. In order to keep bringing about prosperity to our partners, beneficiaries of our projects and other stakeholders, we must also ensure that we keep developing sustainable, profitable business. Our vision of fully renewable generation of electricity is fully realistic. In the long term, there is no other option for the humankind.
Our values – integrity, sustainability, prosperity, innovation and commitment - state the way in which we need to act and behave ourselves in order to succeed in our efforts to contribute to the realisation of our corporate vision. They form the foundation of our commitment to the highest standards of environmental, socio-economic and financial sustainability. By acting responsibly, with integrity and taking into consideration the socio-economic and environmental context in which we operate, we demonstrate that it is possible to develop profitable and inclusive business in a sustainable way.
Teraloop adopts the triple bottom line framework in the monitoring and evaluation of our performance to create greater shared value. We aim at constant improvement in our business activities. This includes the sustainability of Teraloop’s operations. We partner with parties that appreciate our core values and do not act in ways which contradict them. We support the efforts of our partners to meet the standards and principles which we promote.
The heart of the corporate social responsibility of our operations consists of our business integrity, quality, product, customer relationship, and supply chain management systems and their implementation. We constantly aim at ensuring that our management and personnel comply with the key principles of our business. These principles are aligned with the Sustainable Development Goals (SDGs) of the United Nations.
Teraloop’s goal and SDG1 (No Poverty)
Providing access to energy is universally agreed to be the single most effective way to reduce poverty. By facilitating the integration of more renewable energy in national energy systems and improving the quality and reliability of power generation and distribution, Teraloop’s kinetic energy storage technology and project development businesses contribute to creating new inclusive business opportunities. As a result, the socio-economic and environmental resilience of the communities and industries affected by our business is improved.
Teraloop’s mission and SDG7 (Affordable and Clean Energy)
We engage in our business activities with passion to enable ever higher sustainability of the energy value chain from power generation to transmission to distribution to consumption. We strive to offer lower levelised cost of energy storage than alternative energy storage technology solutions. Our business consists of the identification of actual local needs for improved reliability and quality of electricity supply as well as provision of modern and sustainable solutions to them.
Teraloop’s vision and SDG13 (Climate Action)
We are committed to the development of our technology and business to contribute to achieving a greater good for people and planet: fully renewable generation of electricity. Combatting climate change and its impacts requires both adapting to it and mitigating its negative effects. Teraloop’s energy storage technology facilitates the integration of renewable forms of power generation and thus helps to mitigate climate change. Our microgrid optimisation and other project development activities are needed to increase the reliability and quality of available power supply and distribution. This ultimately improves the resilience of electricity consumers when the frequency and length and coverage of drought, flood, sea level rise and other income-generation and well-being threatening events are intensified by climate change.