Climate Change Data

Tyman plc

Climate Impact & Sustainability Data (2019-01-01 to 2023-12-31, 2023)

Reporting Period: 2019-01-01 to 2023-12-31

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

  • Climate Change
  • Safety
  • Sustainable Solutions

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: GRI, SASB, GHG Protocol

Certifications: Null

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

  • SDG 7
  • SDG 11
  • SDG 13

Products that save energy, deter crime, protect against fire spread, support accident prevention, meet the needs of disadvantaged groups, and protect against adverse weather events.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:26,666 tCO2e/year (market-based)
Scope 1 Emissions:9,839 tCO2e/year
Scope 2 Emissions:16,827 tCO2e/year (market-based)
Scope 3 Emissions:610,085 tCO2e/year (materials)
Water Consumption:241,969 m3/year
Waste Generated:10,181 tons/year
Carbon Intensity:40.6 tCO2e per £m revenue (market-based)

ESG Focus Areas

  • Climate Change
  • Safety
  • Diversity & Inclusion
  • Community Investment
  • Supplier Sustainability
  • Ethical Conduct

Environmental Achievements

  • Reduced greenhouse gas emissions by 30.4% to 26,666 tCO2e (market-based method) compared to 2022, and 38.2% compared to the 2019 baseline.
  • Reduced total waste to landfill to 17% (2022: 22%).
  • Increased percentage of revenue from products that positively impact one or more UN SDGs in use to 23% (2022: 22%).
  • Near-term carbon reduction targets validated by the Science Based Targets initiative (SBTi).

Social Achievements

  • Achieved best ever safety performance with LTIFR of 1.0 and TRIR reducing by 26% to 4.2.
  • 73 local fundraising and community engagement activities undertaken (£67,534 community investment).
  • 722 hours of employee volunteering leveraged in company time.
  • Continued implementation of the “Safety is our First Language” programme.
  • Deployment of ethics leadership training course and employee engagement pulse surveys.

Governance Achievements

  • Rigorous process to appoint a new Chief Executive Officer.
  • Development of the Board’s skills matrix to monitor Board composition and aid succession planning.
  • Conducted an organisational capability review through the Nominations Committee.
  • Oversight of the Group’s strategic acquisition of Lawrence Industries.
  • Progress on the Group’s sustainability roadmap.

Climate Goals & Targets

Long-term Goals:
  • Develop long-term net zero goals and interim milestones within five years.
Medium-term Goals:
  • Reduce absolute Scope 1 and 2 emissions by 46.2% by 2030.
  • Reduce absolute Scope 3 emissions from purchased raw materials by 27.5% by 2030.
  • YoY increase in percent of revenue from positive impact products and solutions.
Short-term Goals:
  • Reduce water consumption at five water-stressed sites to 233,000 m3 by 2026.
  • Reduce Scope 1 and 2 emissions per £m revenue by 50% by 2026.
  • Achieve TRIR < 3.0 by 2026.
  • 100% sustainable packaging by 2026.

Environmental Challenges

  • Significant reduction in volumes due to underlying demand softness and customer destocking.
  • Challenging market backdrop due to high inflation, rapid rises in interest rates, and fall in consumer confidence.
  • Customer destocking, notably in seals businesses.
  • Withdrawal of various government fiscal stimulus programmes.
  • Tight labour markets, especially in the US, resulting in wage inflation.
Mitigation Strategies
  • Adjustments to production shifts, targeted headcount reductions, reductions in temporary labour, allowing natural labour attrition and tight control of discretionary costs.
  • Measures taken to reduce the fixed element of the cost base, including ceasing manufacturing operations in Brazil and exiting the Chinese commercial market.
  • Implementation of a new ERP system to enhance customer service levels, greater efficiencies, and improved decision making.
  • Consolidation of manufacturing sites.
  • Acquisition of Lawrence Industries to extend Tyman’s existing product portfolio.

Supply Chain Management

Responsible Procurement
  • Tyman Supplier Code of Conduct (setting out expectations for reporting carbon data and working with the Group to deliver emissions reductions).

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (flooding, heatwaves)
  • Damage to assets
  • Productivity loss
Transition Risks
  • Carbon pricing mechanisms
  • Energy price increases
  • Material price increases
  • Additional expenditure due to low carbon mitigation
Opportunities
  • Growing sales of energy saving and climate adaptation products
  • Increased water efficiency
  • Use of new lower carbon technologies

Reporting Standards

Frameworks Used: TCFD, GRI

Certifications: ISO 14001

Third-party Assurance: Bureau Veritas (Limited Assurance)

UN Sustainable Development Goals

  • SDG 7 (Affordable and Clean Energy)
  • SDG 11 (Sustainable Cities and Communities)
  • SDG 13 (Climate Action)

Products and solutions contribute to these goals through energy efficiency, climate resilience, and circular economy initiatives.

Sustainable Products & Innovation

  • Magnetic casement window handle solution
  • Lower priced flood tight floor access door
  • New flush hinge
  • Smart sensor device for built-in window protection

Awards & Recognition

  • Inclusion in the FTSE4Good Index