ESG Targets

1. Prioritise health and safety

Target Progress 2021 KPIs 2022
  • No major lost time accidents.
  • Provided continued assurance on the number of accidents in 2021.
  • Completed external compliance verification in 2021 and plan to repeat every three years.
  • Expand the way we externally report accidents (including those resulting in under three days absence) and all near misses.
  • Continue to identify and monitor any H&S limitations.

2. Reduce carbon emissions

Target Progress 2021 KPIs 2022
  • Ensure that 100% of Group operations capture and report on CO2e emissions.

  • Reduce our Scope 1 and 2 emissions by 25% by 2024: 50% by 2030: 90% by 2035 based on our 2019 baseline of 4,580 tCO2e.(1)

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

  • In 2021 the Group started to measure its Scope 3 emissions.
  • Develop approach to include Category 9 Downstream Transportation and Distribution and Category 12 End-of-Life Treatment of Sold Products (focusing on packaging), to cover all emissions by 100%.
  • Improve data collection to move away from a spend-based methodology.
Scope 1 emissions are direct greenhouse (“GHG”) emissions that occur from sources that are controlled or owned by Vitec (i.e. gas usage and transportation fuel). Scope 1 emissions

  • Reduce Scope 1 emissions by 35% by 2027.
  • In 2021, we conducted site surveys to establish energy savings options to reduce demand and use of gas.
  • We are gradually converting the Company motor fleet to electric/hybrid vehicles.
  • Our Company motor fleet accounts for 23.29% of the Group’s Scope 1 emissions and 0.26% of the Group’s total carbon emissions.
  • In 2021, the Group started to measure its refrigerants which account for 1% of the Group’s Scope 1 emissions and 0.01% of the Group’s total carbon emissions.
 
  • Decide which options to implement and confirm budget requirements.
  • 25% of our fleet will be electric/hybrid by 2024.
  • Carry out a feasibility study into charging capacity at sites.
  • Improve data collection for sites where refrigerant data was not recorded. We aim to transition to low global warning potential F-gases over time.
Scope 2 emissions are indirect GHG emissions associated with Vitec’s purchase of steam, heat or cooling. Scope 2 emissions
  • Reduce Scope 2 emissions by 50% by 2030 and 90% by 2035.

  • Measures were initiated to optimise consumption, including solar energy systems implemented in Bury St Edmunds, UK and Cartago, Costa Rica. Currently assessing the feasibility at other Group sites.
  • Full conversion to LED lighting at Feltre in progress.
  • Secured renewable energy contracts in Italy, the UK and Costa Rica.

  • On-site generation solar panels will reduce global emissions.
  • Convert to LED lights across the Group to reduce emissions.
  • Switch to renewable energy contracts across the whole Group by 2024.
Scope 3 emissions are indirect GHG emissions of Vitec’s value chain. Scope 3 emissions
  • Reduce business air travel by 50% by 2024 (from a baseline of c.1,000 tCO2e in 2019).
  • Strategically reduce our Scope 3 emissions to meet our 2045 Net Zero target.
  • Scope 3 emissions account for 97% of the Group’s carbon emissions.
  • Limited flights where appropriate by moving to virtual meetings instead.
  • Most Scope 3 categories calculated and revised our target to be more achievable and aligned with wider society.
  • Category 7 Employee Commuting example: hybrid approach to working implemented and re-promoted cycle to work scheme. Employee commuting accounts for 1% of the Group’s total carbon emissions.
  • Category 5 Waste Generated in Operations, where possible we collected and presented activity-based data on waste (i.e. waste type, mass and disposal method).
  • Continue to limit flights where appropriate by moving to virtual meetings instead.
  • Implement data recommendations for each category in the carbon balance sheet.
  • Develop our Net Zero Strategy to understand and engage our supply chain and staff to influence carbon reductions.
  • Develop an understanding of how to decarbonise employee commuting across the Group, i.e. understand transport infrastructure per country.
  • For sites with only spend data available, begin collecting activity-based data (i.e. waste type, mass and disposal method)

3. Reduce packaging and waste

Target Progress 2021 KPIs 2022
  • 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 landfill.
  • Start recording water consumption and set a target.
  • Initial measurement complete and several initiatives underway.
  • Our largest manufacturing sites are already close to 0% waste to landfill, supported by ISO environmental programmes. We continue to drive initiatives for improved recyclability of all inputs and commodities/raw materials used in the manufacturing
    process.
  • We continue to segregate our waste across our sites and update manufacturing technology to more efficient models.
  • We set a goal to start recording water consumption.
  • Continue monitoring and measuring progress.
  • Continue monitoring and measuring progress.
  • Continue monitoring and measuring progress.
  • To collect data on water consumption and develop a metric for year-on-year measurement.

4. Embed sustainability into our product life cycle 

Target Progress 2021 KPIs 2022
  • By 2025 have implemented a product life cycle (cradle to grave) for five of the Group’s top-selling products.
  • Imaging Solutions leads the way through a detailed cross-functional exercise with Bologna Business School. Product life cycle is already in place for some products (Gitzo and Manfrotto) with a roadmap for completion in 2022.
  • Started to target the most significant areas of concern in other Divisions, such as lithium batteries and recycling around electrical components.
  • Gitzo Légende bag launched in June comprising 65% of recycled fabric, non-animal tested and non-toxic synthetic eco-leather. Lowepro launched PhotoSport bag in 2021 with 75% recycled fabric and aspiration for Lowepro Bags full product range to be 100% recycled fabric by 2024.
  • Identify the five products and design and implement a consumer questionnaire to ask how they dispose of their products.
  • Target the most significant areas of concern such as lithium batteries and recycling around electrical components.

5. Formalise the integrity of our supply chain

Target Progress 2021 KPIs 2022
  • Request supplier-specific data on products from top five largest suppliers across the Group by 2025.
  • This is key to understanding the impacts of procured products on the environment and society, e.g. virgin materials vs recycled materials.
  • Vetted all direct suppliers to encompass ESG dimensions.
  • Reputational risk around supply chain already actioned through RiskRate vetting.
  • Recommunicated responsible sourcing policy to internal and external stakeholders.
  • Centralised APAC procurement which will enable greater consistency and transparency.
  • Engage the Group’s top five suppliers by revenue with a products questionnaire.

6. Improve diversity, equality and inclusion

Target Progress 2021 KPIs 2022
  • 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%.
  • We developed a new D&I strategy with targets and action plans tailored to address our industry and our key area for improvement: to actively recruit more female employees.
  • Our Code of Conduct sets out an express prohibition on discrimination of any kind.
  • Continue to monitor and manage progress.
  • Engage employees on this topic.
  • Recommunicate our Code of Conduct to all employees in 2022.

7. Positively impact the communities in which we operate

Target Progress 2021 KPIs 2022
  • Over a four-year period, positively impact one disadvantaged person for every Vitec employee in the communities we operate.
  • Many programmes were put on hold during 2021 due to the pandemic. Divisional programmes have restarted and are being reinvigorated, for example, the “Picture of Life” in our Imaging Division.
  • In 2021, the Group positively impacted 394 disadvantaged people.
  • Continue monitoring and measuring progress.
  • We will continue to develop a structured and coherent approach and leverage external communications.