Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• d2w oxo-biodegradable technology proven non-toxic and biodegrades in the marine environment with significantly higher efficiency than conventional plastics (Oxomar Project)
• Successful conclusion of a five-year study into oxo-biodegradable plastic in the marine environment (Oxomar Project)

Social Achievements

• Supported students in office and laboratory with professional training
• Visited local primary schools to give talks about the environment

Governance Achievements

• Compliance with the Quoted Companies Alliance Corporate Governance Code (QCA Code)
• BSI certified to ISO 9001 and 14001

Climate Goals & Targets

Environmental Challenges

• COVID-19 lockdowns impacting some distributors and markets
• EU ban on oxo-degradable plastics (legal action commenced)
• Market competition
• Commodity pricing and availability
• Foreign exchange rate fluctuation

Mitigation Strategies

• Investment in Latin American market
• Legal action against the EU
• Global distributor network
• Multiple raw material suppliers
• Self-hedging foreign exchange exposure and bank forward currency contracts

Supply Chain Management

Responsible Procurement

• Responsibly sourced products and equipment

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Code

Certifications: ISO 9001, ISO 14001

Sustainable Products & Innovation

• d2w oxo-biodegradable technology
• d2p antimicrobial technology
• SYM Fresh food preservation technology

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Developed biodegradable plastic technology (d2w) and protective technology (d2p) to reduce plastic waste.
• New Mexican biodegradability standard suitable for d2w.
• Minimising CO2 emissions through local manufacturing in the Middle East.

Social Achievements

• Joint venture in India with Indorama Corporation - Symphony Environmental India Pvt Ltd, which reported a break-even result in its first few months.
• Supported two students, one completing professional training and another on secondment for a PhD research project.
• Awarded the “ESG Company of the Year” at the 2021 Small Cap Awards and holder of the LSE Green Economy Mark.

Governance Achievements

• Adopted the Quoted Companies Alliance Corporate Governance Code (QCA Code).
• Established an Audit Committee and a Remuneration Committee.
• Regularly reviews and determines strategy and business model, monitoring management implementation and performance.

Climate Goals & Targets

Environmental Challenges

• Short-term logistics and resource issues.
• Temporary destocking issues in the Middle East.
• Change to glove strategy.
• Delays in government certifications for a new Middle East factory.
• High raw material costs in the first half of the year.
• High distribution costs (shipping) in the first half of the year.
• Legal action against the EU regarding oxo-degradable plastic ban.

Mitigation Strategies

• Improved cost base and higher gross margins.
• Lower distribution and shipping costs in the second half of the year.
• New Middle East production facility to improve stock availability, control, and reduce costs.
• Multiple supply sources and manufacturing locations.
• Active public relations activities.
• Global distributor network to address competition issues.
• Purchasing raw materials in US Dollars to mitigate exchange rate fluctuations.
• Using bank forward currency contract agreements to minimize exchange risk.

Supply Chain Management

Responsible Procurement

• Using more than one supplier of raw materials.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SECR

Certifications: ISO 14001

Third-party Assurance: Mazars LLP

Sustainable Products & Innovation

• d2w biodegradable plastic
• d2p antimicrobial and anti-insect technologies

Awards & Recognition

• ESG Company of the Year (2021 Small Cap Awards)
• Vivekananda Sustainability Summit award (Symphony India)

Environmental Metrics

ESG Focus Areas

• Environmental protection
• Food safety
• Human health and well-being
• Sustainability

Environmental Achievements

• Established production facilities in several global locations, reducing the transportation of products and raw materials
• d2w technology converts plastics into biodegradable materials which are no longer plastics
• Sales of d2w products increased from £4.8 million in 2022 to £5.2 million in 2023

Social Achievements

• Actively support the wider community by contributing to local and national charities
• Create opportunities for young individuals, regularly hosting students completing work experience in our office and laboratory
• Committed to a culture of openness and integrity. There is an open-door policy for all staff

Governance Achievements

• Winner of “ESG Company of the Year” at the 2021 Small Cap Awards
• Holder of the LSE Green Economy Mark
• BSI certified to ISO 9001 and 14001

Climate Goals & Targets

Environmental Challenges

• Sales volumes of d2w products were lower than expected due to delays in local enforcement policies in various markets (Saudi Arabia, Yemen)
• Market opportunity in Latin America is driven by growing demand for ESG compliance, with concerns about legislative changes
• Competition from suppliers of similar products

Mitigation Strategies

• Active public relations activities
• Large and well-established global footprint
• Active in international standards committees and liaising with governmental departments
• Differentiating the Group and its products by branding and marketing activities
• Using more than one supplier of raw materials and continually researching separate supply alternatives

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• d2w biodegradable plastic
• d2p protective technologies (anti-insect, antimicrobial, flame retardant)

Awards & Recognition

• ESG Company of the Year (2021 Small Cap Awards)