Volution Ventilation UK Limited
Climate Impact & Sustainability Data (2021, 2023)
Reporting Period: 2021
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:Reduced by 25.5% in 2021
ESG Focus Areas
- Carbon reduction
- Recycled plastics
- Low-carbon products
Environmental Achievements
- Carbon neutral for scope 1 and 2 emissions in 2021
- 59.7% of plastic used in manufacturing from recycled sources (2020: 56%)
- 62.1% of revenue from low-carbon, energy-saving products (2020: 59%)
- Carbon intensity reduced by a further 25.5% and is now 60.8% lower than in 2014.
Social Achievements
- Safety and wellbeing of employees remained a top priority during the COVID-19 pandemic.
- Relocated Swedish factory to a more energy-efficient facility.
- Two employee engagement meetings held (via video conferencing).
Governance Achievements
- Awarded the LSE Green Economy Mark.
- Sustainability-related performance criteria introduced in senior management's long-term incentive plans.
- Formal performance evaluation of the Board and Committees.
Climate Goals & Targets
Long-term Goals:
- Net zero carbon roadmap
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Achieve 70% of all revenues from low-carbon products by the end of 2025.
- Achieve 90% recycled content in plastics production by the end of 2025.
Environmental Challenges
- Supply chain disruptions and input cost inflation (materials, logistics)
- COVID-19 related lockdowns in Australasia
- Material and freight cost inflation
Mitigation Strategies
- Price increases
- Cost optimization through operational excellence initiatives
- Holding more inventory for key raw materials
- Redesigning products to mitigate component shortages
- Substituting plastic materials with recycled content
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: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- New range of interchangeable parts for residential refurbishment products
- New range of MEV products
- Upgraded EC3 motorised impellor proposition
- Innovative and market-leading range of energy-efficient EC ceiling fans
Awards & Recognition
- LSE Green Economy Mark
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:1735 tCO2e/year
ESG Focus Areas
- Employee engagement
- Customer relationships
- Supplier relationships
- Community engagement
- Environmental impact (Greenhouse gas emissions)
Environmental Achievements
- Reduced GHG footprint from 1,812 tCO2e in 2022 to 1,735 tCO2e in 2023. Greenhouse gas emissions intensity ratio improved from 14.70 tCO2e per £m of revenue to 12.63 tCO2e per £m of revenue.
- Installation of photovoltaic cells and battery management system in Reading facility to reduce electricity usage.
- Consistent waste recycling.
- Implementation of a motor fleet program including hybrid vehicles.
Social Achievements
- Employee Representative Forum, Management Development Programme, training and development, recognition and rewards programs.
- Focus on creating a diverse and inclusive workplace.
- Customer events, product launches, participation in industry forums to improve customer relationships.
- Supplier audits, inspections, and relationship meetings to ensure responsible and sustainable supply chain.
- Community investment through initiatives, sponsorship, and employee volunteering.
Governance Achievements
- Board carefully considered the impact of political and macroeconomic uncertainty.
- Strong credit control procedures, internal control mechanisms, and credit insurance policy to mitigate credit risk.
- Regular monitoring of cash flow using weekly and monthly reporting, quarterly reforecast updates.
Climate Goals & Targets
Environmental Challenges
- Economic risk: Demand influenced by construction market conditions.
- Exchange rate risk: Fluctuation in sterling impacts turnover and purchase costs.
- Financial instrument risk: Primarily related to trade receivables and foreign exchange.
Mitigation Strategies
- Monitoring macroeconomic uncertainty and adjusting contingency planning.
- Benchmarking turnovers and direct expenditure in foreign currency, using forward foreign exchange contracts.
- Strong credit control procedures, internal control mechanisms, and credit insurance policy.
Supply Chain Management
Responsible Procurement
- Supplier audits, inspections, and relationship meetings to ensure responsible, sustainable and ethical suppliers