Climate Change Data

Plexus Holdings plc

Climate Impact & Sustainability Data (2022-07 to 2023-06)

Reporting Period: 2022-07 to 2023-06

Environmental Metrics

ESG Focus Areas

  • Net zero goals
  • Methane emissions reduction

Environmental Achievements

  • Leak-proof wellhead equipment seals protect the environment by preventing methane emissions.

Social Achievements

  • Eight continuous years with no Lost Time Incidents (LTIs).

Governance Achievements

  • Adopted the Quoted Companies Alliance Corporate Governance Code.

Climate Goals & Targets

Long-term Goals:
  • Establishing POS-GRIP technology as a new industry standard for wellhead and metal sealing designs.
Medium-term Goals:
  • Replicating past success in exploration drilling from Jack-up rigs sector and other wellhead markets.
Short-term Goals:
  • Reversing losses and returning to profitability in the 2023/24 financial year.

Environmental Challenges

  • Lower revenues compared to the previous year.
  • Competition with large multinational corporations.
  • Global shift away from hydrocarbons.
  • Potential supply chain disruptions due to geopolitical factors.
  • Need for additional funding.
Mitigation Strategies
  • Revised strategy focused on reversing losses and returning to profitability.
  • Active R&D program and extensive patent portfolio.
  • Focus on leak-proof sealing technology to meet ESG demands.
  • Broadening geographic footprint and customer base.
  • Raising funds through convertible loans and sale of treasury shares.

Supply Chain Management

Responsible Procurement
  • Carefully selected and assessed manufacturers and machine shops operating to high standards.

Climate-Related Risks & Opportunities

Transition Risks
  • Global shift away from hydrocarbons
  • Stringent regulations on methane emissions
Opportunities
  • Growing demand for leak-proof sealing technology to meet net-zero goals.

Sustainable Products & Innovation

  • POS-GRIP technology
  • Python® Subsea Wellhead
  • POS-SET Connector®

Awards & Recognition

  • Shortlisted in the ‘Environmental Sustainability Innovation’ and ‘Significant Contribution to the Industry’ categories of the Offshore Network’s OWI Global Awards (September 2022).