Climate Change Data

Thule Group AB (publ)

Climate Impact & Sustainability Data (2015, 2017, 2018, 2023)

Reporting Period: 2015

Environmental Metrics

Total Carbon Emissions:23,501 kton CO2e
Scope 1 Emissions:4,979 kton CO2e
Scope 2 Emissions:3,018 kton CO2e
Scope 3 Emissions:15,504 kton CO2e
Renewable Energy Share:73%

ESG Focus Areas

  • Products and consumers
  • Efficient and reliable manufacturing
  • Responsible sourcing and logistics
  • Responsible business practices

Environmental Achievements

  • Three more of Thule Group’s nine production facilities transitioned to 100 percent renewable electricity.
  • Hillerstorp facility started using biogas for heating, sourcing all its energy from renewable sources.
  • All major environmental indicators improved.
  • 73 percent of electricity consumption came from renewable sources (up from >65% in the last three years).
  • CO2 emissions from air freight reduced by 38 percent.
  • Global emissions from road transportation fell 12 percent.
  • Recycling rate increased to 93.8 percent.

Social Achievements

  • Launched Thule Pathos initiative to promote environmental and social aspects in Brazil.
  • Continued collaboration with the Swedish National Association for Disabled Children and Young People (RBU).
  • Safety First initiative started at all production facilities.

Governance Achievements

  • Completed restructuring of European distribution set-up.
  • Opened a new 10,000 square meter distribution center for Eastern Europe.
  • Expanded Thule Test Center by 600 square meters.

Climate Goals & Targets

Medium-term Goals:
  • By 2020, all factories will have completely transitioned to renewable electricity.
  • Reduce CO2 emissions from facilities by 65 percent (compared with 2014).
  • Achieve a 96 percent recycling rate by 2020.

Environmental Challenges

  • Bags for Electronic Devices continued to be affected by the weak camera market and a decline in the sales of tablets, particularly in the US.
  • Region Americas was challenged by weaker sales in Bags for Electronic Devices.
  • Drought in Itupeva, Brazil, resulted in water restrictions.
  • Increased production volumes led to an increase in the total quantity of waste.
Mitigation Strategies
  • Launched additional products in the laptop cases and computer backpacks category (e.g., Case Logic LoDo series).
  • Courted new customers in the US to broaden the types of stores in which Case Logic products are sold.
  • Brazil facility uses a closed water system.
  • Set a 96 percent recycling target by the end of 2020.
  • Implemented major changes in distribution structure to meet retailers’ demands for short lead times and high delivery precision.

Supply Chain Management

Responsible Procurement
  • Include environmental aspects when choosing suppliers.
  • Consider and monitor social aspects at suppliers (human rights, working conditions).

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • Products designed with a sustainability mindset; eco-design training for development departments; Life Cycle Analysis integrated into all product development projects.

Awards & Recognition

  • Vendor of the Year in Action Sports by REI
  • iF Product Design Gold Award for Thule RideAlong Mini
  • iF Product Design Award for Thule Urban Glide
  • Swedish Brand of the Year by Sportfack

Reporting Period: 2017

Environmental Metrics

Total Carbon Emissions:25,374 tCO2e/year
Scope 1 Emissions:3,324 tCO2e/year
Scope 2 Emissions:1,169 tCO2e/year
Scope 3 Emissions:20,881 tCO2e/year
Renewable Energy Share:85%
Total Energy Consumption:Not disclosed
Water Consumption:24.1 million liters/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Sustainable products
  • Environmental impact
  • Financial results
  • Sustainable supply chain
  • Ethical business practices

Environmental Achievements

  • Increased share of electricity from renewable sources to 85% (a 4 percentage-point improvement)
  • CO2 emissions from facilities decreased by 22% in terms of energy consumption
  • Recycling rate increased to 97.1%
  • 1,577 tons of plastic waste reused

Social Achievements

  • Safety First initiative continued to improve workplace safety, reducing total accidents from 100 in 2015 to 41 in 2017
  • 94% of workforce completed Code of Conduct training
  • Three cases of harassment reported, all followed up

Governance Achievements

  • Agreement reached with German tax agency regarding tax audits, reducing demand from EUR 27.6m to EUR 3.0m
  • New assembly plant opened in Pila, Poland

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • 100% renewable electricity by 2020
  • 65% reduction in CO2 emissions from facilities by 2020 (compared to 2014)
  • 96% recycling rate by 2020
  • Reduce workplace accidents to below 30 by 2020
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Challenges in traditional product categories sold to the consumer electronics sector (US market)
  • Increased distribution challenges
  • Environmental impact of logistics (65% of total CO2 emissions)
  • Workplace accidents (despite improvements, still not satisfied with results)
Mitigation Strategies
  • Focus on improved margins rather than growth in consumer electronics sector
  • Opened distribution center in western US and new plant in Pila, Poland for more efficient distribution
  • Selecting modes of transport with lower climate impact, reducing transportation distances, optimizing packaging, maximizing capacity
  • Investing in advanced video-conferencing systems
  • Safety First initiative continued in 2018

Supply Chain Management

Supplier Audits: 27/year

Responsible Procurement
  • Thule Group Code of Conduct, stringent requirements on ethics and anti-corruption, environmental factors, human rights, and good working conditions

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Regulatory changes
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001

Third-party Assurance: PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Thule Chariot Sport multisport trailer, Thule Yepp Nexxt Maxi child bike seat, Thule Subterra luggage collection, Thule EasyFold XT bike carrier, Thule Motion XT roof box

Awards & Recognition

  • iF Gold Award for Thule Chariot Sport and Thule Yepp Nexxt Maxi

Reporting Period: 2018

Environmental Metrics

Total Carbon Emissions:26,345 tCO2e/year
Scope 1 Emissions:3,412 tCO2e/year
Scope 2 Emissions:309 tCO2e/year
Scope 3 Emissions:22,624 tCO2e/year
Renewable Energy Share:94% of total electricity use
Water Consumption:25.8 million liters/year

ESG Focus Areas

  • Climate and Environment (5 areas)
  • Social Responsibility (3 areas)

Environmental Achievements

  • Reduced greenhouse gases generated by own production facilities by 17% despite rising production volumes.
  • Energy from renewable sources accounts for 94% of all electricity in facilities (up from 85% the previous year).

Social Achievements

  • Achieved a 98.3% recycling rate.
  • Launched a trainee program with 15 newly employed engineers from four countries.

Governance Achievements

  • Updated Code of Conduct and clarified Anti-Slavery Statement.
  • Became a member of the UN Global Compact.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2030
  • 0% waste to landfills by 2030.
  • No workplace accidents resulting in more than 8 hours of absence by 2030.
  • Gender-equal company with gender-equal leadership by 2030 (no gender less than 40% representation).
Medium-term Goals:
  • >75% renewable energy (all energy, not just electricity) by 2025.
  • Maintain a recycling rate of more than 98%.
Short-term Goals:
  • 100% renewable electricity by 2020.
  • Reduce CO2 emissions from facilities by 65% by 2020 (compared to 2014).

Environmental Challenges

  • Increase in workplace injuries.
  • Increased raw material costs (aluminum).
  • Increased volume of shipments posing challenges to reducing carbon emissions from transportation.
  • Sales decline in Region Americas due to challenging retail market and phase-out of low-margin products.
Mitigation Strategies
  • Invested considerable effort to address challenges at production facilities.
  • Communicated price increases to the market ahead of 2019.
  • Expanded East European distribution center.
  • Modernized assembly plants (increased automation).
  • Increased production volumes at Pila, Poland plant.
  • Phased out certain low-margin products.

Supply Chain Management

Supplier Audits: 30 suppliers audited in 2018 (14 revisit audits)

Responsible Procurement
  • Code of Conduct
  • Supplier self-assessment based on Code of Conduct, national laws, and regulations.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, UN Global Compact

Certifications: ISO 14001 (8 of 9 production units), ISO 9001, bluesign® Brand System Partner

Third-party Assurance: PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Goal 6: Clean Water and Sanitation
  • Goal 7: Affordable and Clean Energy
  • Goal 12: Responsible Production and Consumption
  • Goal 13: Climate Action
  • Goal 5: Gender Equality
  • Goal 10: Reduced Inequalities
  • Goal 8: Decent Work and Economic Growth

Initiatives contribute to these goals through water reduction, renewable energy use, waste reduction and recycling, emissions reduction, gender equality, equitable pay, and worker rights protection.

Sustainable Products & Innovation

  • New generation of roof racks
  • Thule Vital hydration backpack
  • Thule VeloSlide bike rack

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:173,319 tCO2e/year
Scope 1 Emissions:3,173 tCO2e/year
Scope 2 Emissions:215 tCO2e/year
Scope 3 Emissions:151,262 tCO2e/year (materials) + 18,669 tCO2e/year (logistics)
Renewable Energy Share:7.6% (Hillerstorp), 6% (Huta), 35% (Pila)

ESG Focus Areas

  • Climate change
  • Supply chain
  • Health and safety
  • Human rights
  • Circular economy

Environmental Achievements

  • Reduced greenhouse gas emissions by 35% compared to 2019 baseline (scopes 1, 2, & 3).
  • Reduced CO2eq emissions from shipments by 38% year-on-year.
  • Thule Epos bike carrier has a 50% lower carbon footprint than comparable products.
  • 99% recycling rate.

Social Achievements

  • Substantial decrease in occupational accidents.
  • Launched mandatory human rights training for employees (12% completion in 2023, aiming for 80% in 2024).
  • 47% of employees are women (42% in 2022).
  • 26% of management are women (29% in 2022).

Governance Achievements

  • Variable remuneration for Group management is based on achievement of sustainability targets (20-40%).
  • Net-zero target 2050 approved by SBTi.
  • Updated Code of Conduct for suppliers implemented in 2024.
  • 36 social audits conducted (29 first-tier, 7 second-tier suppliers).

Climate Goals & Targets

Long-term Goals:
  • Net-zero emissions by 2050 (90% absolute reduction compared to 2019 baseline, 10% offset).
Medium-term Goals:
  • Reduce CO2eq emissions from shipments by 10% by 2030 compared to 2019 baseline.
  • Maintain a low share of emissions from air freight (max 10% of total logistics emissions).
Short-term Goals:
  • Reduce direct and indirect GHG emissions an average of 30% per product by 2030 compared to 2019 baseline.
  • Reduce water consumption at all production facilities.
  • Eliminate PFAS in all textiles by 2024.
  • Achieve 80% completion rate for human rights training by 2024.

Environmental Challenges

  • Difficult market conditions in 2023 (higher interest rates, lower consumer spending, war in Europe and Gaza).
  • Slowdown in sales of bike-related products due to high retailer inventory levels in the first half of 2023.
  • Weaker cyclical phase in the RV and camper van sector.
  • Supply chain disruptions.
Mitigation Strategies
  • Focused on reducing inventory levels (SEK 800 million reduction).
  • Increased efficiency and capacity utilization in the supply chain.
  • Exiting several external warehouse services.
  • Planning to further decrease inventory levels by an additional SEK 200 million in 2024.
  • Close collaboration with suppliers and freight forwarders.
  • Strategic location of assembly facilities close to major markets.

Supply Chain Management

Supplier Audits: 36 audits in 2023

Responsible Procurement
  • Code of Conduct for suppliers
  • Regular audits and focus on sustainability
  • Encouraging suppliers to share good examples
  • High-quality, high-performance materials with low GHG emissions

Climate-Related Risks & Opportunities

Physical Risks
  • Climate change impacting opportunities to enjoy an active life (e.g., skiing, water sports)
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 9001:2015, IATF 16949, ISO 14001 (gradually certifying all production facilities)

Third-party Assurance: PricewaterhouseCoopers AB

UN Sustainable Development Goals

  • Goal 8: Decent work and economic growth

Thule Group strives to meet target 8 of the UN’s 2030 Agenda, Decent work and economic growth, for both its own operations and its supply chain.

Sustainable Products & Innovation

  • Thule Epos bike carrier