ESG Targets

1. Prioritise health and safety

Target Progress achieved in 2022 2023 KPIs and deliverables
  • No major lost-time accidents resulting in >three days.
  • We continue to improve our health and safety management systems but there were two accidents >three days in 2022. All accidents are subject to a rigorous review process to ensure that key learnings are taken and shared across the Group
  • No major lost-time accidents.

2. Reduce carbon emissions

Target Progress achieved in 2022 2023 KPIs and deliverables

  • Reduce our Scope 1 and 2 emissions by 25% by 2024; by 35% by 2027; by 50% by 2030; and by 90% by 2035, based on our 2021 baseline of 3,979.82 tCO₂e.

  • Reach carbon neutrality by 2025.

  • Reach net zero by 2035 in Scope 1 and 2.

  • Reduce business air travel by 50% by 2024 (compared to a 2019 benchmark of c.1,000 tCO₂e).

  • Strategically reduce our Scope 3 emissions to meet our 2045 net zero target. 
  • Scope 1 and 2 emissions have reduced by more than 20% since 2019 (excluding the impact of newly acquired businesses).
  • Air travel emissions have reduced by 6.8% relative to a 2019 benchmark. This reflects increased environmental conscientiousness and reduced attendance at trade shows.
  • Scope 3 emissions are now calculated up to 2022. We have engaged several key suppliers to understand their energy consumption and identify improvement.
  • Employee survey conducted to measure the impact of employee commuting and identify opportunities to reduce emissions.
  • Actions have been identified to further reduce emissions for Scope 1 and 2. This includes: further solar panel projects (Feltre, Italy and Arizona, US); increased LED lighting coverage; investment in more energy-efficient machinery; and continued conversion of Company cars to electric as and when leases expire.
  • Implement measures to reduce Scope 3 emissions from supply chain, business travel and employee commuting.

 

3. Reduce packaging and waste

Target Progress achieved in 2022 2023 KPIs and deliverables 
  • 50% of current cardboard packaging consumption will be replaced by sustainable, FSC-grade cardboard or eliminated.
  • 50% reduction in annual consumption of single-use plastics by 2024.
  • Continue to reduce waste in landfills.
  • Start recording water consumption.
  • The bulk of our paper and cardboard packaging usage sits within Media Solutions, of which 47% was FSC-graded and 72% from recycled material in 2022.
  • Water consumption now measured at all key sites.
  • 0.03% of waste from our Feltre site ended up in landfill in 2022.
  • Further develop methodology for measurement of plastic waste and implement substitution strategies such as biodegradable polymers.

 

4. Embed sustainability into our product life cycle

Target Progress achieved in 2022 2023 KPIs and deliverables
  • PLCA (cradle to grave) for five of the top-emitting products we sell by 2025.
  • Continued rollout of PLCA across Media Solutions, with several initiatives underway. See page 71 of the Annual Report.
  • PLCA methodology applied to at least five of Production Solutions’ most significant product lines.

5. Formalise the integrity of our supply chain

Target Progress achieved in 2022  2023 KPIs and deliverables 
  • Work with our top five biggest suppliers by revenue to request supplier-specific data on products by 2025.
  • A detailed ESG survey has been completed with Videndum’s seven most significant vendors.
  • Supplier due diligence and supplier audit programme has been strengthened to focus on all relevant ESG dimensions.
  • Rollout of ESG survey to top 30 suppliers.

6. Improve diversity, equality and inclusion

Target Progress achieved in 2022  2023 KPIs and deliverables
  • Over the next five years, aim to improve the Group’s overall gender diversity from 70% men and 30% women.
  • At a senior leadership level, we expect the ratio of women to be at least 30%.
  • At the end of 2022, 43% of the Group’s Board of Directors were female compared to 14% at the end of 2021. 15% of the Group’s Operations Executive were female, compared to 8% in 2021. 14% of the Group’s senior management team were female, compared to 15% in 2021. 31% of the rest of the Organisation were female, compared to 29% in 2021. We are continuously working to improve the Group’s overall gender diversity, particularly our senior management.
  • The Board will continue to monitor progress on equality and the Group’s gender breakdown.
  • We aim to continue developing our processes to foster a culture of inclusivity across the Group, including the Hire 2 Develop programme and apprenticeships focused on engineering, sales, operations and IT departments where females are under-represented.

 

7. Positively impact the communities in which we operate

Target Progress achieved in 2022 2023 KPIs and deliverables 
  • Positively impact one disadvantaged person for every Videndum employee in the communities we operate.
  • In 2022, the Group positively impacted 443 disadvantaged people.
  • Continue monitoring and measuring progress.