Climate Change Data

Creo Medical Group plc

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:0 (UK), 0 (Global)
Scope 2 Emissions:26.5 (UK), 111.7 (Global)
Scope 3 Emissions:753 (UK), 1041.6 (Global)
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:2.6 tonnes CO2e/£m revenue (UK); 5.5 tonnes CO2e/£m revenue (Global)

ESG Focus Areas

  • Healthcare Impacts
  • Our People and Communities
  • Our Planet

Environmental Achievements

  • 4.95% reduction in GHG against a backdrop of expansion
  • Implementation of data capture and reporting system to ensure accurate, timely and efficient data capture
  • Study being undertaken to understand environmental footprint of our product vs alternative treatments

Social Achievements

  • First SSD clinic at Royal Oldham resulting in reduced waiting list times during the year
  • Quality training which goes above and beyond the industry standard
  • Leadership and manager training for 35 managers across the business
  • Talent assessments and appraisals for all staff across the business ensuring we maximise employee potential
  • Work with local schools and colleges to host career days
  • 10% Payrise for those most impacted by the cost of living crisis
  • Employee voluntary turnover ratio of 19% (18% in 2022)
  • 0.24 Accidents per 100,000 hours (2022 0.33)

Governance Achievements

  • Strengthened governance framework with energetic engagement by the Non-Executive Directors at Board level
  • Adoption of the QCA Code of Conduct
  • Regular meetings of the Audit Committee
  • Capital markets day held in November

Climate Goals & Targets

Long-term Goals:
  • 2045 Achieve net-zero Scope 1, 2 & 3 Emissions
Medium-term Goals:
  • 2039 Achieve an 80% reduction in baseline figures
Short-term Goals:
  • 2024 Scope 1, 2 & 3 monthly emissions data from all sites globally
  • 2025 Set specific targets for ‘hot spot’ areas, departments, and sites
  • Achieve a 7% year on year reduction in emissions

Environmental Challenges

  • Delay in FDA approval for UltraSlim
  • Short notice legislative changes around the UK’s R&D tax regime
  • Continued volatility in the smaller cap stock market
  • Cost of living crisis
Mitigation Strategies
  • Oversubscribed equity raise of approximately £33.7 million
  • Tight cost control
  • Reduction in headcount
  • Salary increases for employees, particularly those on lower salaries

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Responsible and transparent sourcing

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Legal, regulatory, or market measures to address climate change
Opportunities
  • Reduction in environmental impact through use of endoscopic procedures

Reporting Standards

Frameworks Used: GRI, TCFD, SECR, UN SDGs

Certifications: ISO 13485, ISO 14001

Third-party Assurance: PricewaterhouseCoopers LLP

UN Sustainable Development Goals

  • Goal 3: Good Health and Well-being
  • Goal 9: Industry, Innovation and Infrastructure
  • Goal 13: Climate Action

Creo's products and initiatives contribute to these goals through improved patient outcomes, technological innovation, and environmental sustainability efforts.

Sustainable Products & Innovation

  • Speedboat UltraSlim

Awards & Recognition

  • Outstanding Achievement award at the Medilink UK National Healthcare Business Awards