Climate Change Data

Racing Force S.p.A.

Climate Impact & Sustainability Data (2020-01 to 2021-12, 2022, 2023)

Reporting Period: 2020-01 to 2021-12

Environmental Metrics

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Started mapping and monitoring consumption and emission data to identify areas for improvement and reduction.
  • Implemented a sophisticated paint application system in Bahrain factory reducing paint consumption and overspray.

Social Achievements

  • Improved employee training and development programs, including remote working opportunities during the pandemic.
  • Promoted a culture of safety and equal opportunities in the workplace.
  • Implemented flexible working hours and smart working initiatives.

Governance Achievements

  • Adopted a Management, Organization, and Control Model (231/01) in July 2022 to ensure transparent management and prevent illegal behavior.
  • Established a Supervisory and Control Body (SB) to oversee compliance with the Organizational Model.
  • Approved a Code of Ethics in July 2022 outlining principles of corporate deontology and rules of conduct.

Climate Goals & Targets

Environmental Challenges

  • Risks associated with the Covid-19 pandemic and global economic conditions.
  • Risks associated with the Russian-Ukrainian conflict and economic sanctions.
  • Risks associated with product liability and brand awareness.
  • Risks associated with implementing future strategies and programs.
  • Risks associated with the protection of the Group's know-how and industrial secrets.
Mitigation Strategies
  • Adopted health and behavioral precautions, implemented remote working methods.
  • Carefully monitored exports to Russia, minimized credit exposure, and implemented energy efficiency projects.
  • Implemented a tightly controlled product development and homologation process, maintained brand recognition through advertising and promotional campaigns.
  • Continuously monitored assumptions and estimates in the business plan.
  • Implemented internal and external procedures to protect know-how.

Supply Chain Management

Responsible Procurement
  • Selection of suppliers based on objective and impartial criteria (reliability, quality, technical preparation, efficiency, cost-effectiveness).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001-2015

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:1337 tCO2e/year (Scope 1 & 2 Location based)
Scope 1 Emissions:471 tCO2e/year
Scope 2 Emissions:753 tCO2e/year
Renewable Energy Share:50% (Ronco Scrivia)
Total Energy Consumption:15896 GJ/year
Water Consumption:7.02 m3/year
Waste Generated:4312 tons/year

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Completed investments in Ronco Scrivia (Italy) including solar panels (230 kWp) to produce up to 50% of annual energy consumption; 80% for plant operations, 20% fed back into the grid.
  • Implemented energy reduction program in Bahrain to reduce overall energy consumption by 30% by 2023, purchasing recycled clean energy.

Social Achievements

  • Implemented one day per week of smart working for employees (starting May 1st, 2022).
  • Introduced additional Welfare projects, such as meal vouchers (starting in early 2023).

Governance Achievements

  • Adopted the Code of Ethics and the Management, Organization and Control Model, pursuant to Italian Legislative Decree 231/01.
  • Established the Supervisory Body (SB) to supervise the operation of and compliance with the Organizational Model.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Complete expansion of Bahrain plant by end of 2023.
  • Achieve 30% reduction in energy consumption in Bahrain by 2023.
Short-term Goals:
  • Complete expansion of Ronco Scrivia plant by summer 2024.

Environmental Challenges

  • Risks associated with the Russian-Ukrainian conflict and its impact on the international economy and energy prices.
  • Risks associated with the procurement and price fluctuation of raw materials.
  • Risks associated with product liability and brand awareness.
  • Risks associated with implementing future strategies and programs.
Mitigation Strategies
  • Zeroed out credit exposure with Russian customers and stopped exporting to the country.
  • Improved energy efficiency of production sites (Ronco Scrivia, Bahrain, USA).
  • Careful planning of purchases to mitigate raw material shortages.
  • Ability to recharge price increases to final customers.
  • In-house laboratories for product testing and compliance with FIA standards.
  • Advertising and promotional campaigns to maintain brand awareness.
  • Tightly controlled product commercialization process.

Supply Chain Management

Responsible Procurement
  • Selection of suppliers based on reliability, quality, technical preparation, efficiency, and cost-effectiveness.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001:2015 (Racing Force S.p.A.)

Sustainable Products & Innovation

  • Apparel products using graphene (carbon fiber composite)
  • Jackets made entirely from recycled fabrics (starting 2023)
  • T-shirts manufactured with recycled technical fabrics (starting 2024)

Awards & Recognition

  • Inclusion in the ESG ITA Growth Index (April 2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:1519 tCO2e/year (Scope 1 & 2 Location based)
Scope 1 Emissions:972 tCO2e/year
Scope 2 Emissions:785 tCO2e/year (Location based)
Renewable Energy Share:20% of total energy consumption (Italy)
Total Energy Consumption:19311 GJ/year
Water Consumption:8.74 Megaliters/year
Waste Generated:456 tons/year

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Completed roof renovation, facade cladding, and solar panel installation at Ronco Scrivia headquarters, producing 10,570 kWh of self-produced energy in December 2023.
  • Expansion projects in Italy and Bahrain designed with sustainable features (solar panels, energy-saving facades, rainwater collection systems).

Social Achievements

  • Continued collaboration with Deloitte to enhance ESG reporting systems.
  • Implemented a Whistleblowing Policy in December 2023.
  • Introduced a new web platform (Infopoint) for managing work hours, effective January 1, 2024.
  • Granted meal vouchers to all employees in Italy.
  • Organized various sports activities in Bahrain to encourage team building.

Governance Achievements

  • Approved the Organizational Model (pursuant to Italian Legislative Decree 231/01) in July 2022, updated in December 2023.
  • Established a Supervisory Body (SB) to oversee compliance with the Organizational Model.
  • Introduced a Whistleblowing Policy with a dedicated platform for reporting breaches.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Transition to renewable energy sources in Bahrain by early 2025.
  • Further improvement on sustainable packaging (self-assembling glue-free organic cardboard).
Short-term Goals:
  • Complete building expansion in Ronco Scrivia by summer 2025, with 50% increase in area and sustainable features.
  • Complete second floor of Bahrain facility by end of 2024, with solar panels and increased energy efficiency.

Environmental Challenges

  • Economic volatility, geopolitical tensions, and escalating impacts of climate change.
  • Supply chain disruptions due to price fluctuations of raw materials and geopolitical instability.
  • Risks associated with product liability and brand awareness.
  • Risks associated with implementing future strategies and programs.
Mitigation Strategies
  • Careful monitoring of geopolitical situations and implementation of energy efficiency initiatives.
  • Careful planning of purchases and identification of alternative shipping routes.
  • Tightly controlled product development and homologation processes.
  • Continuous monitoring of assumptions and estimates in the business plan.

Supply Chain Management

Responsible Procurement
  • Selection of suppliers based on reliability, quality, technical preparation, efficiency, and cost-effectiveness; verification of compliance with laws, regulations, and ESG practices.

Climate-Related Risks & Opportunities

Physical Risks
  • Increased costs for air conditioning due to higher global temperatures.
Transition Risks
  • Risks associated with procurement and price fluctuation of raw materials.
Opportunities
  • Development of energy-efficient products and processes.

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001:2015 (Racing Force S.p.A. and Racing Force International WLL)

Sustainable Products & Innovation

  • Apparel products using recycled fabrics (jackets in 2023, t-shirts in 2024); sustainable packaging initiatives.