Climate Change Data

Methode Electronics

Climate Impact & Sustainability Data (2024)

Reporting Period: 2024

Environmental Metrics

Waste Generated:5753 metric tons

ESG Focus Areas

  • Environmental Stewardship
  • Workplace & Community
  • Responsible Governance
  • Product Innovation

Environmental Achievements

  • Expanded the number of sites reporting waste data, including Nordic Lights and two other locations. Achieved 74% recycling rate of total waste (5,753 metric tons). Implemented energy efficiency measures and on-site solar panels at multiple locations.
  • Developed an investor-grade energy and utility consumption data collection framework.

Social Achievements

  • Achieved a 72% global participation rate in the inaugural employee engagement survey.
  • 40 leaders participated in Inclusive Leadership training.
  • Launched internal communications campaign celebrating workforce diversity.
  • Improved EcoVadis scorecard.

Governance Achievements

  • Established a climate change initiative.
  • Hired a Chief Compliance Officer (CCO) to lead and oversee Methode’s Compliance & Integrity program globally.
  • Established a Compliance Champions network.
  • Expanded Supplier Code of Conduct to include new environmental and social conditions.

Climate Goals & Targets

Long-term Goals:
  • Company-owned EV targets (FY2025).
Medium-term Goals:
  • Report “investor-grade” utility data in the near future for all sites where utilities are not included in property rents.
  • Implement supplier risk assessment procedures (FY2025).
Short-term Goals:
  • Set targets for recordable incident rate (RIR), lost time incident rate (LTIR), and near miss reporting (FY2025).

Environmental Challenges

  • Opportunities exist to enhance open and honest two-way communication, articulate an inspiring vision, and demonstrate that the workforce is important to Methode’s success (based on employee engagement survey).
  • Global water risk, particularly in locations exposed to water stress conditions.
Mitigation Strategies
  • Plan to improve employee engagement over time by addressing survey findings.
  • Performed a baseline water risk analysis and intend to review and align with conservation actions and best practices for high-risk regions.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct (including anti-corruption, discrimination, health and safety, legal compliance, and labor rights).

Climate-Related Risks & Opportunities

Opportunities
  • Serving customers’ needs for EV solutions.

Reporting Standards

Frameworks Used: GRI, SASB, IFRS, ISSB