Climate Change Data

Environmental Metrics

ESG Focus Areas

• Community
• Environment
• Charity Support
• Our People

Environmental Achievements

• Provided every member of staff with a ceramic mug, preventing almost 135,000 disposable cups going to landfill.
• Improved recycling facilities and minimized waste across the Group.
• Innovation House utilizes smart warehousing designed to reduce energy usage and carbon emissions.

Social Achievements

• Staff at head office volunteered more than 100 hours working in the local shop of their chosen charity Mind.
• Midwich UK ran a ‘Power-Up Your Local School’ competition, donating £10,000 of classroom technology.
• Employees supported charities through gifts, product donations, and donations of unwanted clothes and goods.

Governance Achievements

• Established an Executive Board responsible for determining and driving operational strategy.
• Completed a self-evaluation exercise, reinforcing commitment to a strong corporate governance framework.
• Included a detailed Directors’ Remuneration Report and corporate social responsibility information.

Climate Goals & Targets

Environmental Challenges

• Challenging economic backdrop in some key markets (Brexit, political uncertainty in Europe, slowdown in Australian economy).
• Potential challenge to product supply, customer demand, and operations due to the Covid-19 virus.

Mitigation Strategies

• UK business expected to hold approximately two months’ inventory at the time of Brexit and is working closely with key vendors to maintain availability of goods.
• Board will continue to closely monitor the Covid-19 situation and react accordingly.
• Strong market position and management team.

Supply Chain Management

Responsible Procurement

• Using local suppliers for offices where possible.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Code (as revised April 2018)

Sustainable Products & Innovation

• Video conferencing equipment (as a sustainable alternative to travel).

Awards & Recognition

• Van Domburg, awarded by SMART ‘Global Distributor of the Year’
• Prase being awarded InAvation Distributor of the Year - 2019

Environmental Metrics

ESG Focus Areas

• carbon emissions

Environmental Achievements

• 10% decline in SECR intensity ratio
• increase in the proportion of low emission vehicles to 27% (2020: 8%)

Social Achievements

• continued to make business personal, supporting employees through wellbeing programmes, provision of access to additional mental health services and the formalisation of hybrid working
• repaid all 2021 furlough benefits received from the UK Government

Governance Achievements

• appointed Climate Partner GmbH as a specialist external adviser on carbon measurement and reduction
• completed a formal audit tender process which resulted in the reappointment of Grant Thornton

Climate Goals & Targets

Environmental Challenges

• supply chain disruption through a combination of the global shortage of semi-conductors, manufacturing disruption caused by lockdowns, and a shortage of sea container capacity
• product shortages
• price inflation
• ongoing pandemic restrictions

Mitigation Strategies

• enhanced its focus on continuity of supply and increased its inventory holding of certain product lines
• worked closely with vendors to forecast demand
• multiple vendor relationships and able to work with its customers to offer alternative products when there are supply limitations
• flexible home working solutions to our teams

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA

Third-party Assurance: Grant Thornton UK LLP

Awards & Recognition

• “Best place to work” in the Inavation Awards

Environmental Metrics

ESG Focus Areas

• Environmental Performance
• People and Giving Back
• Influencing our Channel
• Solutions

Environmental Achievements

• Completed baseline CO2 emissions data
• Reported on environmental strategy and approach to carbon reduction
• Raised £55,214.09 for 14 ‘Gift of AV’ charities
• Launched “the Gift of AV” initiative in the UK
• Implemented hybrid working
• Invested in facilities to make them great places to work

Social Achievements

• Welcomed teams back to offices and promoted hybrid working
• Invested in facilities to make them great places to work
• Launched a significant cost-of-living package for UK employees
• Employees took a day’s paid leave to volunteer (21% participation, 300 hours)
• Planted 600 trees as a carbon offsetting initiative
• Starin launched “Pathways to Growth” employee development program

Governance Achievements

• Formalised ESG approach by engaging third-party consultants
• Developed Midwich Sustainability Strategy
• Appointed Non-executive Director with responsibility for ESG
• Established a steering group (“Midwich 25”) to oversee sustainability
• Completed a Group-wide materiality assessment
• Resumed in-person Board meetings and site visits

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Product shortages
• Inflationary pressures
• Cost-of-living pressures on employees
• Maintaining group-wide engagement with rapid growth and hybrid working
• Establishing baseline global carbon data

Mitigation Strategies

• Careful inventory management
• Accelerated production from manufacturers
• Strong vendor relationships and collaboration
• Multiple vendor relationships and alternative product offerings
• Cost-of-living support package for UK employees
• Engagement programs and hybrid working
• Engaged environmental consultant to establish baseline carbon emissions

Supply Chain Management

Responsible Procurement

• Supporting vendors with sustainability improvements
• Championing AV channel education for sustainable best practice

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products
• Use of unified communications as an alternative to travel

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Awards & Recognition

• Distributor of the Year at the AV Awards (2022)
• Best place to work at the Inavation Awards (2021)

Environmental Metrics

ESG Focus Areas

• Sustainability
• Community Programmes
• Climate Change

Environmental Achievements

• Moved to TCFD aligned reporting
• Established climate targets
• Influencing the wider Pro AV channel’s thinking on climate matters

Social Achievements

• Established community programmes which integrate the wider AV community
• Continued development and growth of community programmes

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• General economic weakness impacting markets
• UK&I and Australian markets particularly impacted
• Corporate market weakness impacting demand for UC solutions
• Softness in discretionary education spend
• Product shortages in some audio/technical product categories

Mitigation Strategies

• Focus on higher margin product areas
• Seven deals completed in 2023, integration progressing well
• Strong future acquisition pipeline

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed