Elos Medtech AB

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:8.6 tons CO2e (2023)

Renewable Energy Share:50% (2023)

Total Energy Consumption:94,860 GJ (2023)

Water Consumption:18,900 m3 (2023)

Waste Generated:332 tons (2023)

Carbon Intensity:8.9 tons CO2e/SEK million in sales (2023)

ESG Focus Areas

Environmental
Social
Governance

Environmental Achievements

Reduced CO2 emissions by 18GJ in 2023 through new energy shuttle buses (50MJ/100km reduction compared to diesel).
Reduced scrap rate from 1.45% to 1.37% by value.
Installed a new boiler in Tianjin to reduce NOx emissions.
Reached 5% investment goal in initiatives reducing environmental impact.

Social Achievements

Initiated an exchange program in Memphis to replace old oil mist collectors with new, more effective ones (completion targeted for early 2024).
Initiated a project to replace the old HVAC system in Memphis to improve air quality.
Average of 10 hours of task-specific training per employee per year.

Governance Achievements

100% of employees participated in compliance training.
17 internal audits at subsidiaries.
Conducted 19 days of customer audits.

Climate Goals & Targets

Long-term Goals:

Reduce overall CO2 emissions.
Reduce scrap to 2.5% in the group.

Medium-term Goals:

Achieve gold rating from EcoVadis.

Short-term Goals:

Complete replacement of oil mist collectors in Memphis by early 2024.
Complete replacement of HVAC system in Memphis.

Environmental Challenges

Political and economic instability affecting global operations.
Fierce competition in the medical technology industry.
Managing growth in a capital-intensive industry.
Customer dependence.
Production capacity constraints.
Interruption of manufacturing processes.
Retaining key personnel.
Market risk and pricing pressures.
IT security risks.
Regulatory compliance for medical devices.
Product liability.
Protection of intangible assets.
Environmental risks (material selection, consumption, waste, energy, emissions).
Employee health and safety.
Human rights risks.
Social risks.
Corruption risks.

Mitigation Strategies

Proactive measures to ensure raw material supply.
Continuous improvement of processes to maintain competitiveness.
Effective planning, manufacturing, and management processes.
Continuous improvement of competitiveness with customers.
Investment in existing and new production lines.
Production diversification across multiple plants.
Insurance coverage against business interruptions.
Annual employee surveys and dialogue.
Joint onboarding concept and Code of Conduct.
Targeted recruitment efforts.
Continuous improvement of production processes.
Market research and customer follow-ups.
Efficient management of IT backups and isolation of production units.
Regular follow-up and audits for regulatory compliance.
Continuous internal and external audits for quality.
Insurance coverage for product liability.
Working with external patent lawyers.
Systematic approach to health and safety, including safety committees and training.
Regular business reviews and oversight of human rights aspects.
Internal audits of financial and social issues.
Annual risk assessments for corruption.

Supply Chain Management

Responsible Procurement

Audits of suppliers
Questionnaire on qualifications

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, ISO 26000

Certifications: ISO 13485, ISO 14001, ISO 9001, CMDCAS, MDSAP

Third-party Assurance: KPMG AB

UN Sustainable Development Goals

Elos Medtech has identified eight UN SDGs where they see a connection to their business and will continue to work towards achieving the specified goals.

Awards & Recognition

Silver rating from EcoVadis (three consecutive years)