Progress in 2023 against our seven key pillars 

1. Continue to prioritise health and safety: no major lost time accidents

2023 progress and update 
  • There were two accidents in 2023 that resulted in over three days absence, which is the same as in 2022.
  • In both years, the accidents resulting in over three days of absence were not linked to severe injury, but were categorised as over three days as a result of the time needed for medical appointments and short recovery periods advocated by health professionals.
  • In 2023, the overall number of health and safety related accidents slightly increased compared to 2022. We believe this slight increase was due to improved reporting and awareness, particularly to report near misses or minor incidents.  

2. Reduce carbon emissions: develop and implement net zero strategy

2023 progress and update 
  • Scope 1 and 2 emissions have reduced by c.30% since 2019 (excluding the impact of newly acquired businesses). This demonstrates the positive impact from energy saving measures such as further LED lighting installations in Bad Kreuznach, Germany and Los Angeles, US.
  • Production Solutions was awarded an ISO 50001 certification for energy consumption optimisation in Cartago, Costa Rica in January 2024.
  • Solar energy systems were implemented in our Feltre, Italy site, and the capacity of solar power generation at our Cartago, Costa Rica site increased by approximately 33%.
  • We are continuing with the conversion of the Company motor fleet to electric or hybrid as and when leases expire.

3. Embed sustainability into product life cycle: PLCAs for our top five selling products

2023 progress and update 
  • We continue to work to embed sustainability into new product development and to have PLCAs for our top five selling products by 2025. Production Solutions started their first PLCA in December 2023, working on the Sachtler manual support flagship product, which incorporates the aktiv and flowtech system. Once the knowledge on the methodology and tools is developed, PLCAs will be integrated into the Division’s New Product Introduction (“NPI”) process.

4. Reduce packaging and waste: reduce in-use plastics, more sustainable packaging and reducing waste to landfill

2023 progress and update 
  • This continues to be a major area of focus and initiatives in 2023 introduced more sustainable packaging and reduced water consumption.
  • 70% of Media Solutions’ main paper and cardboard packaging has been converted to a Forest Stewardship Council (“FSC”) certified solution, which ensures the sustainable sourcing of packaging materials.
  • 40% of Media Solutions’ main plastic packaging comes from recycled materials. Internally, Media Solutions is redesigning its packaging to optimise material consumption and to eliminate plastics wherever possible. In addition, they are working closely with suppliers for further improvements in sourcing sustainable packaging materials.
  • Production Solutions started switching cardboard packaging to FSC certified material. Our Tokyo, Japan site has transitioned to responsibly sourced material and the Division’s Bury St. Edmund’s, UK supplier went through the certification process. The Division expects to have FSC certified packaging in the UK in 2024.
  • Cartago, Costa Rica has started testing cardboard pillow packaging to replace plastic bags for all spares. We expect this project to complete in 2024 and plan to expand to other sites after that.
  • In 2023, 6% of the total waste generated at our Feltre, Italy site was used for waste-to-energy.
  • In Creative Solutions, Teradek, SmallHD and Wooden Camera brands are all utilising eco-friendly bubble wrap as an alternative to virgin wrap. The eco-friendly wrap is derived of 40% recycled content.
  • The All-Cardboard packaging project has been implemented for Teradek Bolt and SmallHD’s Ultra 7 Monitor products. Creative Solutions’ other brands and products will be incorporating the all-cardboard packaging in 2024.

5. Formalise the integrity of our supply chain: improve our understanding of the impact of procured products and components

2023 progress and update 
  • A detailed ESG survey was distributed to the Group’s largest 90 suppliers to understand their approach to key ESG topics and help to improve the integrity of our supply chain. Production Solutions is also working to identify which suppliers report emissions with the GHG protocol, to improve our Scope 3 reporting.
  • Supplier due diligence and supplier audit programme was strengthened to focus on all relevant ESG dimensions.

6. Positively impact the communities in which we operate: positively impact one disadvantaged person for every Videndum employee in the communities we operate

2023 progress and update 
  • In 2023, the Group positively impacted 560 disadvantaged people. Over a four-year period we have positively impacted 1,807 individuals and this means we have achieved our target of helping one disadvantaged person for every Videndum employee in the communities in which we operate.

7. Improve diversity, equality and inclusion: aim to improve the Group’s overall gender diversity

2023 progress and update 
  • At the end of 2023, 40% of the Group’s Board of Directors were female compared to 14% at the end of 2021. 17% of the Group’s Operations Executive were female, compared to 8% in 2021. 27% of the Group’s senior management team were female, compared to 15% in 2021. 30% of the rest of the organisation were female, compared to 29% in 2021.