NIKS PROFESSIONAL LTD.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:56 tCO2e/year (2023), 54 tCO2e/year (2022)
Scope 1 Emissions:8 tCO2e/year (2023, 2022)
Scope 2 Emissions:48 tCO2e/year (2023), 46 tCO2e/year (2022)
Total Energy Consumption:101,000 kWh/year (2023), 95,000 kWh/year (2022)
Water Consumption:1,013 m3/year (2023), 811 m3/year (2022)
ESG Focus Areas
- Economic performance
- Packaging management
- Consumer health and safety
- Responsible marketing and labelling
- Corporate governance
- Business ethics
- Data privacy
- Climate-related risks and opportunities
Environmental Achievements
- Eschewed excessive packaging, reducing packaging’s impact on the environment and overheads.
- Preparing for Mandatory Packaging Reporting (MPR) scheme.
Social Achievements
- Launched ‘MyNiks’ web application enhancing customer experience and outreach.
- Organized a workshop ‘My Niks Experience’ in Shanghai.
- Participated in the 25th World Congress of Dermatology.
Governance Achievements
- Established a ‘Code of Business Conduct and Ethics for Directors and Employees’.
- Implemented a whistle-blowing policy.
- Formalized a PDPA policy and published it on the website.
Climate Goals & Targets
Long-term Goals:
- Zero incident of non-compliance concerning the health and safety of products and services.
- Zero incident of non-compliance concerning product and service information and labelling and marketing communications.
- Zero incident of significant instance of non-compliance with laws and regulations.
Short-term Goals:
- Enhance presence in China’s e-commerce marketplace.
- Recruit regional agents in China for provinces where the Group is not currently represented.
- Opening of 4th clinic in the northern region of Singapore.
Environmental Challenges
- Decrease in revenue from China operations due to economic uncertainty following prolonged COVID-19 lockdowns.
- Climate-related risks: extreme weather variability impacting workforce health, enhanced climate-related reporting obligations, pressure for more environmentally friendly packaging, increased production costs due to input price increases.
- Key sustainability challenge: packaging waste generated from used skincare products.
Mitigation Strategies
- Intensifying efforts in China, particularly in the e-commerce space.
- Preparing for MPR and enhanced mandatory climate-related disclosures.
- Embracing minimal packaging in business.
- Addressing climate-related risks through regular monitoring and disclosure of Scope 1 and 2 GHG emissions, electricity and water usage, and focusing on minimizing these.
Supply Chain Management
Responsible Procurement
- NIKS medical skincare products are manufactured in GMP-compliant factories.
Climate-Related Risks & Opportunities
Physical Risks
- Extreme variability in weather patterns impacting workforce health.
Transition Risks
- Enhanced climate-related reporting obligations
- Pressure for more environmentally friendly packaging
- Increased production costs due to input price increases
Opportunities
- Increased demand for skincare products to mitigate ill-effects of sun and UV exposure.
Reporting Standards
Frameworks Used: GRI