UP Global Sourcing Holdings plc
Climate Impact & Sustainability Data (2021, 2022-08-01 to 2022-01-31)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:491.36 tCO2e/year
Scope 1 Emissions:279.73 tCO2e/year
Scope 2 Emissions:211.63 tCO2e/year
Total Energy Consumption:2,379,219 KWh/year
ESG Focus Areas
- Good health and well-being
- Responsible consumption and production
- Decent work and economic growth
- Climate action
- Reduced inequalities
Environmental Achievements
- Removed single-use plastic water items from UK head office
- Removed single-use plastics and polystyrene from product packaging in Housewares and Electrical divisions
- Introduced LED lighting in Cologne office and Guangzhou showroom
- Improved pallet utilization and container fills to minimize space wastage and reduce carbon usage
- Implemented paper-reduced processes in offices and warehouses
- Planted 10,408 trees through Ecologi partnership
- Achieved ISO 14001 environmental certification
Social Achievements
- Formed internal Mental Health Committee
- Enhanced Employee Assistance Programme
- Improved workspace at head office with £1.6m investment
- Increased training opportunities with a full-time Training Manager
- Launched mentoring programme for UK mentors
- Implemented a multitude of effective solutions to increase productivity and accuracy
- Supported local charities (Maggie’s, Positive Steps, Pankhurst Trust, Regenda Homes) through donations and initiatives
- Increased local recruitment efforts with a 60% target
- Maintained 0 work-related accidents and 0 modern slavery/bribery reports
- Achieved 86% 'great place to work' score in employee survey
Governance Achievements
- Established a Board-level ESG Committee
- Appointed two new female Independent Non-Executive Directors (Jill Easterbrook and Christine Adshead)
- Maintained robust anti-bribery and whistleblowing procedures
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions
Medium-term Goals:
- Achieve carbon neutrality in UK operations and shipping by 2030
- Achieve carbon neutrality in order delivery operations by 2040
- Achieve Grade A energy rating for UK sites
Short-term Goals:
- Not disclosed
Environmental Challenges
- Global shipping capacity constraints due to port congestion and labor shortages
- Increased shipping costs putting downward pressure on gross margins
- Reduced shipping capacity leading to reduced stock availability
- Shortage of HGV drivers in the UK impacting day-to-day operations
Mitigation Strategies
- Prioritized forward orders from retail customers
- Implemented margin-enhancing initiatives (monitoring profitability, product innovation, productivity improvements)
- Improved and largely contracted GBP/USD exchange rate to mitigate high shipping costs
- Developed alternative sourcing strategies
Supply Chain Management
Supplier Audits: 85% of live suppliers audited
Responsible Procurement
- Ethical trading policies
- SEDEX and amfori BSCI memberships
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD (in next financial year)
Certifications: ISO 14001
UN Sustainable Development Goals
- Goal 3
- Goal 8
- Goal 12
- Goal 13
Initiatives contribute to these goals through various environmental, social, and governance programs
Reporting Period: 2022-08-01 to 2022-01-31
Environmental Metrics
ESG Focus Areas
- Community Investment
- Responsible Employment
- Corporate Governance
- Net Zero
Social Achievements
- Activities during the pandemic in support of food banks, the NHS, domestic abuse survivors and young carers.
- Regular colleague engagement, ongoing training and mentoring, support for colleague-led measures, such as the Mental Health Committee and the £1.6 m investment during CY 21 in the new much-improved head office workspace.
Governance Achievements
- Full compliance with the UK Corporate Governance Code.
- Establishment of an ESG Committee.
Climate Goals & Targets
Long-term Goals:
- Net Zero targets and deadlines to be set out in FY 22 Annual Report.
Medium-term Goals:
- Target 30% of overall revenue from online.
Environmental Challenges
- Global shipping crisis causing increased shipping costs and downward pressure on gross margins.
- Tighter stock availability caused by shipping disruption affecting online sales.
- Travel restrictions impacting account management of certain European discounters.
Mitigation Strategies
- Actions to offset increased shipping costs (increasing prices, changing product mix, developing new products).
- Rebuilding stock position after being artificially depressed during FY 20 and FY 21.
- Improved stock availability expected as shipping disruption eases.