INSPECS Group plc
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:5,135.80 tCO2e (location-based); 4,685.36 tCO2e (market-based)
Scope 1 Emissions:1,316.66 tCO2e
Scope 2 Emissions:3,186.69 tCO2e (location-based); 2,736.25 tCO2e (market-based)
Scope 3 Emissions:632.45 tCO2e
Total Energy Consumption:13,704,946 kWh
Carbon Intensity:18.69 tCO2e per $1m turnover (2021)
ESG Focus Areas
- Environmental matters
- Social matters
- Governance matters
Environmental Achievements
- Implemented renewable energy throughout global offices
- Increased recycling across the Group
- Developed new collections incorporating sustainable and recycled materials
- Offset carbon footprint through tree planting and sustainable projects (equivalent of 31,500 trees in 2021)
Social Achievements
- Maintained a safe working environment with no serious injuries in 2021 (15 minor injuries)
- Neo (Vietnam factory) implemented COVID-19 safety protocols, including a dormitory for employees, which was praised by the local government.
- Continued investment in employee well-being programs
Governance Achievements
- Developed a sustainability framework based on GRI standards
- Established a Sustainability Committee in 2022
- Implemented a whistleblowing policy and maintained a zero-tolerance position on bribery
Climate Goals & Targets
Medium-term Goals:
- Achieve carbon neutrality across worldwide offices by 2030
Short-term Goals:
- Increase production capacity in Vietnam to 12 million+ units per annum by 2024
- Develop a new high-volume manufacturing plant in Portugal by 2023
Environmental Challenges
- Supply chain disruptions due to logistical issues and COVID-19 restrictions
- Cost inflation in raw materials, shipping, and distribution
- Political situation in Ukraine affecting raw material costs and energy prices
- Continued challenges from COVID-19
Mitigation Strategies
- Investing in further expansion in Vietnam and a new European facility to ensure supply chain stability
- Increasing pricing on new products where appropriate
- Improving manufacturing efficiency and inter-group supply cost efficiencies to negate cost increases
- Employees adapted successfully to difficult circumstances
Supply Chain Management
Responsible Procurement
- Ethical Trade Audits (SMETA)
Climate-Related Risks & Opportunities
Transition Risks
- Supply chain disruption
- Cost increases to reduce carbon usage
Opportunities
- Development of energy-efficient products and processes
Reporting Standards
Frameworks Used: GRI
Sustainable Products & Innovation
- BOTANIQ® sustainable eyewear
- O’Neill ‘Wove’ frame made from recycled materials
Awards & Recognition
- Multiple Red Dot awards
- SILMO d’Or