Climate Change Data

Synectics plc

Climate Impact & Sustainability Data (2021, 2023)

Reporting Period: 2021

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • Increased the amount of waste recycled across the Group
  • Reduced energy consumption compared to the previous year

Social Achievements

  • Redoubled focus on employee health and well-being
  • Continued commitment to diversity and equality
  • Contribution to a range of charitable and community initiatives

Governance Achievements

  • Comprehensive suite of policies covering conduct and ethics
  • Anti-bribery, modern slavery, and safeguarding policies implemented
  • All UK sites certified to ISO 27001 (Information Security Management System)

Climate Goals & Targets

Environmental Challenges

  • Delayed recovery of international leisure travel impacting the Systems Division's main sector (Global Gaming)
  • Supply chain pressures affecting the electronics industry globally
Mitigation Strategies
  • Cost reductions from restructuring implemented in 2020
  • Increased share of more profitable software-based sales
  • Multi-year support agreements with customers
  • Vigorous checks on suppliers, development of alternative sources of key components, robust stock management, and supplier buffer stocks

Supply Chain Management

Responsible Procurement
  • Commitment to upholding environmental control throughout the supply chain
  • Requirement for suppliers to commit formally to upholding standards of business ethics

Climate-Related Risks & Opportunities

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Employees and People
  • Communities and Social Impact
  • Ethics and Governance
  • Products and Services
  • Climate and Nature

Social Achievements

  • Performed a global salary and benefits benchmarking review and implemented the results
  • Renewed focus on health & well-being including hybrid working where roles allow

Governance Achievements

  • Appointed specialist external advisors to help undertake a review to inform its future ESG strategies

Climate Goals & Targets

Environmental Challenges

  • Continued delay in the refurbishment of large casinos in North America
  • Sales into the public space sector continued to be challenging in FY 2023, largely due to continued budget constraints
  • Market competition for key leadership and specialist talent has become increasingly strong
  • Changing commercial behaviour by some suppliers and component shortages has increased the supply-chain risk and driven up prices of certain components
Mitigation Strategies
  • Enhanced recruitment and onboarding procedures
  • Competitive remuneration packages and incentive structures
  • New apprenticeship scheme
  • Annual employee survey supplemented by regular ‘pulse’ checks
  • Measures to support employee health and well-being
  • Targeting adjacent markets
  • Reinvigorated focus on business development
  • Thorough assessments on all new suppliers
  • Exploring alternative sources for crucial components
  • Stringent stock management practices
  • 12-month rolling forecasts to key suppliers
  • Suppliers maintaining buffer stocks of critical components
  • Holding safety stocks as necessary

Supply Chain Management

Responsible Procurement
  • Rigorous quality standards in all operations
  • Maintaining the same standards of its supplier base
  • Thorough assessments on all new suppliers
  • Exploring alternative sources for crucial components
  • Regular communication with suppliers
  • Monitoring supplier performance

Climate-Related Risks & Opportunities