Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Installation of solar panels at Atik’s Lisbon factory
• Shift to sustainable packaging at Monmouth Scientific

Social Achievements

• Maintaining all staff on payroll during the pandemic, using the UK government furlough scheme where appropriate
• Atik and MPB repaid government furlough subsidies received in 2020 and 2021

Governance Achievements

• Adopted the 2018 QCA Corporate Governance Code

Climate Goals & Targets

Environmental Challenges

• Acquisitions may not provide the expected financial return
• Failure to effectively manage distribution channels
• Competition and technological obsolescence
• Supply chain failures
• Recruitment and staffing
• COVID-19 pandemic

Mitigation Strategies

• Disciplined due diligence process for acquisitions
• Maintaining close relationships with distributors and OEM customers
• Investing in research and development
• Expansion of stocks and cooperation with customers to ensure supply chain continuity
• Schemes to retain key individuals
• Proactive measures to maintain manufacturing capabilities

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Environmental Metrics

ESG Focus Areas

• Climate change
• Social sustainability
• Governance

Environmental Achievements

• Atik Cameras in Portugal and Monmouth Scientific installed solar panels to reduce energy demands.
• A number of businesses, such as Graticules, Atik Cameras (Portugal) and Monmouth already recycle 80% or more of their waste.
• Astles, Atik Cameras (Portugal), Graticules and Scientific Vacuum Systems, have all sourced over 40% of their energy from renewable sources.

Social Achievements

• Robust terms of employment and systems in place that protect employees’ rights and promote their wellbeing.
• Approved a separate Diversity, Equity, and Inclusion policy and an Ethics policy.
• Instituted a Group-wide regular independent health and safety review.

Governance Achievements

• Adopted a Group Modern Slavery policy alongside a Child and Forced Labour policy.
• Formal goals around developing the Group’s ESG strategy and refining relevant targets.
• ESG considerations as a key part of annual strategic planning processes.

Climate Goals & Targets

Environmental Challenges

• Challenging supply chain issues and inflation.
• Brexit impacted upon exporting to and importing from Europe.
• Staffing challenges and inflation impacted businesses.

Mitigation Strategies

• Companies across the Group coped well with challenging supply chain issues and inflation.
• Now seeing Brexit as less of an issue.
• Passed on price increases from supply chain to customers with some success.
• Expansion of stocks and cooperation with customers to ensure continuity of supply chain.
• Investment in software which aids procurement of electronic parts globally.

Supply Chain Management

Responsible Procurement

• Group Modern Slavery policy
• Child and Forced Labour policy

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Products that consume less energy and other inputs
• Fume cupboards with low energy demands
• Chillers that use refrigerants with lower global warming potential
• Filtered fume cupboards that recirculate air

Environmental Metrics

ESG Focus Areas

• Climate change
• Social sustainability
• Governance

Environmental Achievements

• Installed solar panels at various sites
• Many Group businesses procure a large proportion of their energy from renewable sources (19.3% in 2023)
• 85.2% of waste diverted from landfill in 2023

Social Achievements

• Robust terms of employment and systems in place that protect employees’ rights and promote their wellbeing
• Approved a Child and Forced Labour policy and a Group Modern Slavery policy
• Launched Fraser Anti-Static Techniques' X-SERIES range of static eliminators, reducing waste across manufacturing applications

Governance Achievements

• Refreshed management team with refined strategy for sustainable growth
• Completed strategic review leading to re-segmentation of portfolio
• Implemented a new strategic framework focused on organic and inorganic growth

Climate Goals & Targets

Environmental Challenges

• Headwinds in H1 including unwinding of COVID-19 related orders, destocking by key customers, and high cost of debt
• Sharp drop in Atik’s revenue following completion of COVID-19 related contract
• Geographical slowdowns in two key industrial markets for Fraser Anti-Static Techniques

Mitigation Strategies

• Implemented price adjustments to reflect supply chain cost increases
• Successfully transitioned from reactive to proactive sales culture
• Fostering synergies between portfolio companies
• Capitalising on procurement advantages across supply chain

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Prioritising local sourcing of components
• Dual sourcing strategy for key components
• Group Modern Slavery policy
• Child and Forced Labour policy

Climate-Related Risks & Opportunities

Physical Risks

• Increase in extreme weather events impacting the supply chain
• Costs of compliance with new climate-related regulation
• Increase in extreme weather events impacting facilities/operations
• Carbon taxes

Transition Risks

• Economic turbulence, downturns, and stagnation

Opportunities

• Resilience from fossil fuel market volatility
• Increased demand for low-carbon products
• Reputational impacts of positive climate performance

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 14001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Monmouth Scientific’s fume cupboards with low-energy demands
• Applied Thermal’s chillers with lower global warming potential refrigerants
• Safelab Systems’ filtered fume cupboards
• Atik Cameras for PCR machines and sky surveillance
• Synoptics’ instrumentation for Microbiology and molecular imaging
• Fistreem’s water distillation systems
• LTE Scientific’s autoclave ovens
• Sentek’s environmental monitoring equipment
• MPB Industries’ flowmeters for medical anaesthesia and water treatment

Awards & Recognition

• Not disclosed