AlphaRET
Climate Impact & Sustainability Data (2021, 2021-07 to 2021-12, 2022, 2022-07 to 2023-06, 2023-07 to 2023-12, 2024, 2024-09, FY24 (Year ended 30 June 2024), October 2024)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Climate Change
- Governance
- Diversity
Social Achievements
- Improved sales and marketing management in the USA and establishment of a sales team in Germany.
Governance Achievements
- Substantial compliance with ASX Corporate Governance Principles and Recommendations, 3rd Edition.
Climate Goals & Targets
Environmental Challenges
- Sales interruptions due to the COVID-19 pandemic, particularly impacting sales during the northern hemisphere winter months of December 2020, January and February 2021.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: ASX Corporate Governance Principles and Recommendations, 3rd Edition
Certifications: ISO13485
Third-party Assurance: PricewaterhouseCoopers
Reporting Period: 2021-07 to 2021-12
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Execute European launch of new iTrack™ Advance canaloplasty device (Q3 FY2022)
- Complete iTrack™ Advance 510(k) regulatory submission to the FDA for USA launch later in 2022
- Support distribution partner in China to improve market penetration of iTrack™ canaloplasty device
Environmental Challenges
- Increased competition in the USA glaucoma market leading to a 10% decrease in sales revenue compared to the previous corresponding period (PCP).
Mitigation Strategies
- Focusing on the new iTrack™ Advance canaloplasty device to capitalize on growing surgeon interest in canaloplasty due to favorable reimbursement changes.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Climate Change
- Governance
- Diversity
Social Achievements
- The Board monitors the diversity of its workforce.
Governance Achievements
- The Company has adopted and substantially complies with ASX Corporate Governance and Principles and Recommendations, 3rd Edition ASX Corporate Governance Council.
Climate Goals & Targets
Environmental Challenges
- COVID-19 restrictions limited sales and hampered meeting potential customers at tradeshows due to cancellations or virtual events, staff illness, and supply chain problems slowing down commercial activities.
Mitigation Strategies
- The Company has management systems in place within its risk management framework which ensures decision making takes into account impact of such decisions on climate change and the environment.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022-07 to 2023-06
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Not disclosed
Environmental Achievements
- Not disclosed
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2023-07 to 2023-12
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Targeting cash flow break even by FY25
Environmental Challenges
- Market uncertainty during November and December 2023 arising from proposed changes to reimbursement tabled by Medicare Administrative Contractors (MACs) to restrict reimbursement coverage.
Mitigation Strategies
- Near-term initiatives designed to overcome the challenges imposed by the proposed LCD changes; lobbying against the changes.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Temporary supply chain challenges in the first quarter impacted growth
Mitigation Strategies
- Supply chain challenges were effectively resolved. Sales rebounded in October, meeting growth targets and solidifying operational stability.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024-09
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Achieve breakeven in the glaucoma segment during FY25
Environmental Challenges
- Temporary supply chain challenges in August and September negatively impacted production scaling and sales.
Mitigation Strategies
- Company’s operational agility allowed for swift recovery and realignment to growth targets in October.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: FY24 (Year ended 30 June 2024)
Environmental Metrics
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: October 2024
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- The initial LEAD study results were confounded by the presence of Reticular Pseudodrusen (RPD) in a subset of patients, obscuring the treatment's true efficacy.
Mitigation Strategies
- Subsequent studies will exclude patients with RPD to validate the post-hoc analysis showing a significant reduction in AMD progression.