We’ve set out all the sustainability targets we want to achieve, and the milestones to get us there.
Overall, Vision 2030 is our roadmap to help guide our decisions over the next decade and set us on the path to net zero. It’s about making sustainability central to everything we do. Designing it into products from the start. Embedding it into our procurement. Shaping our people strategy around it.
So here are details of our Vision 2030 targets, and the progress we’re making towards them.
"Setting ESG targets for the group, our Vision 2030, is a key process in aligning everyone's efforts towards our sustainability journey."Susana Carvalho Group Sustainability Director
Goal: Sustainable products
Target: At least 60% of new products with enhanced sustainability benefits
In 2022, 50% of our new products exhibited a defined sustainability benefit. And our innovation team is finding new ways to adapt our existing products and design new ones with even greater benefits. Our 2025 objective is 55% of products with sustainability benefits.
Over 60% of all new products in the pipeline will deliver a net positive sustainability benefit, such as improving carbon emissions, having a positive environmental impact, reducing the use of hazardous ingredients or helping create a more circular economy.
Goal: Sustainable Procurement
Target: 80% procurement spend with a sustainability rating
Our 2030 target is for 80% of our procurement spend to be with suppliers who have a sustainability rating. To help us reach that, we’ve set a short-term target of 20% in 2022 – which we have exceeded, reaching 37%. We are therefore on track to meet our 2025 objective of 50% of our procurement spend covered with a sustainability rating. We will also ensure that all our highest risk suppliers adhere to our Supplier Code of Conduct or equivalent standards.
*Excluding adhesive resins business acquired in April 2022
"The steps we are taking will make sustainability part of everything we do in the procurement function. This is transforming the way we do business and will help to lower the carbon impact of our supply chain on the planet."Steve Blackburn VP, Group Procurement
Goal: Health and safety
Target: Recordable Accident Case Rate (RCR) (per 100,000 hrs for employees and contractors)
Target: Process Safety Event Rate (PSER) (per 100,000 hrs for employees and contractors)
We aim to cut all accidents to zero globally and continue to show good progress on our overall journey, even when integrating businesses and sites with lower safety standard.
Target: Reduce Scope 1 and 2 absolute emissions by 47%
Target: Reduce Scope 3 absolute emissions by 28%
From purchased good and services
Target: Electricity from renewable sources plus improving energy efficiency in all our operations
Our 2030 target is a 47% reduction in absolute Scope 1 and 2 greenhouse gas emissions against a 2019 baseline, validated by the Science Based Targets initiative.
As of 2022, we have already achieved a 36% absolute reduction in Scope 1 and 2 emissions. At our plant in Sokolov, Czech Republic, in May 2022 we have stopped the use of coal significantly reducing our Scope 1 emissions in 2022. Our innovation and procurement teams are also actively looking for ways that could help reduce our Scope 3 emissions quickly.
"In my role, I am constantly looking for new opportunities to decarbonise our raw material supply chain."VP, Technology Platforms and Innovation Robin Harrison
Target: Manage and minimise water consumption at all locations. Introduce water management plans in water stressed areas and highest consumption sites.
We need a significant amount of water to make our polymer products, and in manufacturing for steam and cooling. Recently, we’ve had to use slightly more water – in part because of higher air temperatures and lower rainfall – but we’ve agreed an overarching new water policy and we’re working on ways to better monitor and reduce our water use.
"In my role as Sustainability Manager for Group Operations, I am focused on coordinating our activities to develop systems, best practices and deliver projects that help meet our emissions reduction and water management goals."Guy Scudder Sustainability Manager, Group Operations
Goal: Our Employees
Target: 40% senior management gender diversity (the percentage of women in senior management roles
Target: Achieve upper quartile engagement scores against external benchmarks
In 2022 the percentage of women in senior management roles increased to 25.4% – up from 20% in 2021, and from 9% just three years ago. This meant we achieved our 2022short-term objective.
To help us on our journey, we aim to reach 33% female senior leaders by 2025 and to have 20% senior leaders from ethnically diverse backgrounds.
Target: Provide volunteer support and financial contributions in excess of £1 million a year to advance education, public health, diversity and environmental stewardship
For over 60 years, the Synthomer Foundation in the USA has provided funding to education initiatives, and arts, civic, health and human service organisations. In 2022, over 50% of the funds went to education programmes and one of the largest single donations will help two students attend a Historically Black College or University and participate in a leadership development programme.
"The Synthomer Foundation supports programmes that enhance the quality of life in our communities and provides opportunities to foster civic engagement through employee volunteerism."Theresa Carter President of Synthomer Foundation