Laying the path for circularity

Our environmental, social and governance (ESG) performance is closely connected to our financial performance which is reflected in our four P’s framework: Planet, People, Principles of Governance and Prosperity.

We will work consistently to integrate these four P’s in every aspect of our business and to improve in every dimension to push the bar for sustainable value creation even higher.

Focussing on what matters most Assessing materiality helps us identify and prioritise the sustainability issues that matter the most to our business and our stakeholders, from customers, consumers, and communities, to owners, suppliers, and employees.

In 2022, we made a double materiality assessment on sustainability related topics. We assessed the most material impacts to Faerch

– both where we impact the planet and society the most and where our business is mostly impacted by the world around us. The material risks and opportunities within the areas of ESG have been identified based on universal and industry standards, and from interviews with various stakeholders, both internally and externally.

We have assessed 15 ESG topics as the most material and through our four P’s framework, we have prioritized programmes to ensure that we continuously improve on these topics. Some programmes have already started, others are planned to start in 2023.

With the four P’s framework, we are highlighting the need to look at sustainable value creation holistically, and work with multiple dimensions to ensure sustainability over time.

- Climate change

- Energy

- Impact of product materials

- Water usage

- Waste

- Biodiversity and ecosystems

- Human capital development

- Diversity, equity and inclusion

- Work safety

- Product quality & safety

- Human & labour rights

- Sustainable procurement

- Environmental and socioeconomic compliance

- Business ethics

- Data security

- Value creation

- Profitable growth

- Investment in new capabilities