Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Calculated Scope 3 emissions
• Conducted site surveys to establish energy-saving opportunities
• Solar energy systems implemented in Bury St Edmunds, UK and Cartago, Costa Rica
• Secured renewable energy contracts in Italy, the UK and Costa Rica
• Improvements to carbon fibre production line reduced waste materials by over 90%
• Upgrades to machinery saved over 6,000 litres of water per year
• Introduced sustainability-focused design principles into packaging using biodegradable alternatives to plastic bags, removing glue and adhesive labels, and printing directly onto boxes

Social Achievements

• Established an ESG Committee
• Expanded ESG disclosures to include standalone TCFD and ESG Reports
• Zero accidents resulting in over three days’ absence
• 95% of employees feel that their safety, health and wellbeing are a high priority for the Company
• Developed a new Diversity and Inclusion (“D&I”) strategy with targets and action plans
• Raised £13,000 for Rainforest Trust and ActionAid charities

Governance Achievements

• Established an ESG Committee
• Expanded ESG disclosures to include standalone TCFD and ESG Reports
• Percentage of the Group Chief Executive’s remuneration tied to the Group's ESG performance
• Published TCFD Report in accordance with regulation as a UK listed company
• Introduced and completed climate change risk analysis and disclosure. Developed a risk mitigation plan for climate change

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to the pandemic
• Increasing stakeholder interest in ESG matters
• Climate change as a principal risk
• Need for expensive investment in new machinery and other costs to meet regulatory and reporting requirements and costs to offset emissions

Mitigation Strategies

• Enhanced procurement processes to input orders earlier than usual to account for delay times
• Regularly reviewed stock, closely contacting suppliers and monitoring market trends
• Kept safety stock at all sites, and numbers were monitored and adjusted appropriately
• Developed strategies to monitor and mitigate the potential physical impact of climate change on operations, people, and the supply chain
• Expanded the Group’s ESG programme to include reducing carbon emissions as a key pillar
• Several initiatives to reduce energy consumption underway or completed

Supply Chain Management

Responsible Procurement

• Code of Conduct
• Supplier sustainability requirements
• Third-party certifications
• Site inspections
• Vendor Index Assessments
• NAVEX Risk Rate for background checks

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters

Transition Risks

• Regulatory changes
• Market shifts
• Investment in new machinery

Opportunities

• Development of energy-efficient products
• Renewable energy contracts

Reporting Standards

Frameworks Used: GRI, TCFD

Certifications: ISO 14001 (at some sites), UNI EN ISO 45001 (at some sites)

UN Sustainable Development Goals

• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 5 (Gender Equality)
• SDG 4 (Quality Education)
• SDG 8 (Decent Work)

Initiatives aligned with these goals are detailed throughout the report.

Sustainable Products & Innovation

• Lowepro Photosport bag (75% recycled materials)
• Gitzo Légend bag (65% recycled fabric)

Awards & Recognition

• Ecological Blue Flag (Costa Rica)

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Scope 1 and 2 emissions reduced by 22.6% since 2019 (excluding newly acquired businesses)
• Solar panels installed at UK and Costa Rica sites, generating over a third of electricity needed at those locations.
• Improvements to carbon fiber production line reduced waste materials by over 90%
• Upgrades to machinery saved over 6,000 liters of water per year
• Lowepro launched Adventura III and Tracker light lines, made from up to 85% and 80% recycled and solution-dyed materials respectively.
• 47% of core brand cardboard packaging was FSC-graded and 72% from recycled material in 2022.

Social Achievements

• 43% of the Group’s Board of Directors were female at the end of 2022 (compared to 14% at the end of 2021)
• 92% of employees felt their safety, health, and wellbeing were a high priority for the Company.
• Positively impacted 443 disadvantaged people.
• Production Solutions' Hire2Develop program helped 96 employees with career advancement in the last three years.

Governance Achievements

• ESG Committee met five times throughout the year to review Divisional progress against ESG targets.
• Videndum’s Code of Conduct was refreshed and relaunched.
• Renewed governance initiatives including Code of Conduct, whistleblowing, third-party due diligence and reputational risk training for senior management.
• Established an ESG Working Group, with dedicated ESG Coordinators at each Division.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Increasingly aggressive climate change reporting requirements
• Investment into efficient or low-carbon machinery and technology
• Increased costs of insurance
• Increased frequency of natural disasters caused by climate change
• Impact of gradual changes such as increasing temperature

Mitigation Strategies

• More frequent Board meetings
• Forecasting to reflect the reality and the anticipated impact of the pandemic
• Rigorous controlling of the cost base
• Inputting orders earlier than usual to account for delay times
• Regular review of stock
• Close engagement with suppliers
• Monitoring market trends
• Keeping safety stock at all sites
• Implementing energy efficiency measures
• Converting company motor fleet to electric/hybrid vehicles
• Switching to renewable energy contracts
• Reducing business air travel
• Reducing single-use plastics
• Using recycled fabric in Lowepro bags

Supply Chain Management

Supplier Audits: Regular supplier audits; ESG survey of top seven suppliers in 2022

Responsible Procurement

• Code of Conduct
• Supplier sustainability requirements
• Vendor Index Assessments
• Site inspections for key suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters
• Increasing temperatures

Transition Risks

• Regulatory changes
• Market shifts
• Increased costs of compliance, machinery, and insurance

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, TCFD, GHG Protocol

Certifications: ISO 9001, ISO 14001, ISO 45001, ISO 50001 (Bury St Edmunds site), CHEP Sustainability Certificate (Australian distribution site)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)
• Goal 17 (Partnerships for the Goals)

Videndum's initiatives contribute to these goals through various environmental and social programs.

Sustainable Products & Innovation

• Lowepro Adventura III and Tracker lines
• Eco version of Manfrotto PIXI (in design phase)

Awards & Recognition

• Blue Flag Ecology Award (Production Solutions, Costa Rica)
• Amato Lamberti Social Responsibility Award (Media Solutions)

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced Scope 1 and 2 emissions by c.30% from 2019 (excluding newly acquired businesses)
• Installed solar panels at Feltre, Italy site (covering 25% of electricity needs and reducing CO2 emissions by 10%)
• Expanded solar panel installation at Cartago, Costa Rica site by 33%
• Improved energy efficiency measures across the business (LED lighting, etc.)
• Refined methodology for calculating Scope 3 emissions, including calculating Category 9 (Downstream Transportation and Distribution) for the first time

Social Achievements

• Positively impacted 560 disadvantaged people in 2023, achieving a four-year target of one disadvantaged person per employee
• Supported various charities and donated equipment/employee time
• Maintained high engagement with top 90 suppliers on ESG topics
• Improved gender diversity on the Board (40% female at year-end)

Governance Achievements

• Board provides oversight for ESG program and climate-related risks
• Signed off on sustainable initiatives (e.g., solar panel installations)
• Ensured effective stakeholder engagement

Climate Goals & Targets

Environmental Challenges

• Unprecedented length of US writers and actors strikes significantly impacting financial performance
• Challenging macroeconomic environment
• Destocking

Mitigation Strategies

• Quickly reduced costs and managed cash
• Deleveraged through a £125m capital raise
• Short-time working for some employees
• Exiting non-core unprofitable segments

Supply Chain Management

Supplier Audits: 90 largest suppliers engaged on ESG topics in 2023

Responsible Procurement

• Code of Conduct
• ESG Supplier Questionnaire
• Responsible Sourcing Policy
• Supplier risk assessments (health & safety, forced/child labor, IT security)

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products (e.g., Salt-E Dog)

Reporting Standards

Frameworks Used: GRI, TCFD, CDP, GHG Protocol

Certifications: ISO 9001, ISO 14001, ISO 45001, ISO 50001 (Production Solutions, Cartago)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Anton/Bauer Salt-E Dog
• Lowepro Green Line products
• Litepanels LED lighting

Awards & Recognition

• Corporate Star Award for Best Employee Engagement Programme
• Excellence in Sustainability Award for Salt-E Dog

Environmental Metrics

ESG Focus Areas

• Reduce carbon emissions
• Reduce packaging and waste
• Embed sustainability into our product life cycle
• Prioritise health and safety
• Improve diversity and inclusion
• Formalise the integrity of our entire supply chain
• Positively impact the communities in which we operate

Environmental Achievements

• Continued to work towards net zero by 2035 for Scopes 1 and 2, and 2045 for Scope 3.
• Aim to further develop energy and emissions’ reduction initiatives, integrate sustainability into our product lifecycles and refine data collection methods in 2024.

Social Achievements

• Anton/Bauer’s Salt-E Dog, the sustainable portable power solution based on sodium technology , won awards at both the 2024 National Association of Broadcasters Show in Las Vegas and the Royal Television Society Awards

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Post-strike recovery in the cine and scripted TV market taking longer than anticipated.
• Challenging macroeconomic environment affecting the consumer and ICC segments.
• Dependence on key suppliers (including component shortages).
• Increased pressure linked to restructuring initiatives and measures to contain costs.
• High number of cyber security breaches and ransomware activity.
• Material uncertainty over going concern.

Mitigation Strategies

• Implementing a strategic cost-saving programme, projected to deliver at least £10 million in additional permanent savings in FY 2025.
• Renegotiated its committed RCF with its lending banks, extending its termination, reducing the facility, and improving lending covenants.
• Seeking alternative providers and purchasing buffer stock to mitigate supply chain disruption.
• Cost reduction activities, particularly discretionary costs; cash saving measures; and renegotiating its RCF covenants.
• Strengthening cyber security defences and increasing budgets allocated to security.
• Developing a set of actions to reduce costs permanently.

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: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Anton/Bauer’s Salt-E Dog

Awards & Recognition

• 2024 National Association of Broadcasters Show in Las Vegas
• Royal Television Society Awards