Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance and ethics
• Diversity and inclusion
• Environmental sustainability

Environmental Achievements

• Reduced waste sent to landfill to zero since January 2021.
• Evaluated electricity contracts to ensure use of renewable energy sources where possible.
• Exploring sustainable options for warehouse expansion and consolidation.

Social Achievements

• Established an employee engagement committee ('PlumbedIn').
• Rolled out an improved benefits package to employees.
• Launched an all-employee Save as You Earn scheme.
• Increased the proportion of women in leadership positions to 19% (2021: 12%).
• Improved employee engagement, with 72% of employees responding positively that they were “Proud to work at Victorian Plumbing” (2021: 58%).

Governance Achievements

• Adopted an ESG strategy.
• Established an anti-bribery and corruption policy and procedures.
• Implemented a whistleblowing policy.
• Audited 30 suppliers in the Far East against employment and social compliance standards, conducting 17 full factory audits.

Climate Goals & Targets

Environmental Challenges

• Supply chain pressures, particularly with the cost of containers used to transport goods into the UK.
• Ongoing product and distribution cost inflation.
• Softer demand environment in 2022.
• Macroeconomic trends impacting customer behavior and operations.
• Increased competition in the UK market for bathroom products and accessories.

Mitigation Strategies

• Carefully managed price increases and discounts.
• Reviewed salaries for a large majority of the workforce.
• Strong supply chain with multiple suppliers across multiple locations.
• Relationships with multiple carriers and logistics providers.
• Continuously reviewed stock levels and increased investment in stock when uncertainties arise.
• Investment in new and innovative marketing campaigns.
• Continued focus on pay-per-click marketing.
• Quality checks on products and holding suppliers to high standards.
• Investment in product offering and engagement with third-party brands.
• Diversification into adjacent products and a larger focus on trade sales.

Supply Chain Management

Supplier Audits: 30 suppliers audited in the Far East (17 full factory audits)

Responsible Procurement

• Ethical Procurement Policy and Supplier Code of Conduct
• Supplier audits covering employment conditions, health and safety, and terms of employee engagement
• Working with suppliers to reduce plastic packaging

Climate-Related Risks & Opportunities

Transition Risks

• Regulatory change
• Changes in consumer behaviour

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: SASB, TCFD

UN Sustainable Development Goals

• Goal 5 (Gender equality)
• Goal 8 (Decent work)
• Goal 12 (Responsible consumption)
• Goal 13 (Climate action)

Sustainable Products & Innovation

• Bathroom taps and toilets with water-saving functionality
• Radiator valves with energy-saving technology
• Products made from sustainable materials such as bamboo

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Diversity and inclusion
• Governance and ethics

Environmental Achievements

• Transitioned all electricity contracts to 100% renewable energy
• Warehouses use only recycled pallets for deliveries
• Carbon Intensity Ratio reduced by 10% to 1.66 tonnes of CO2e per £m of revenue (2022: 1.85)

Social Achievements

• Launched a Charity Committee and a programme of employee volunteering days
• Introduced Mental Health Champions
• Increased the proportion of women in leadership positions to 26% (2022: 21%)

Governance Achievements

• Transitioned to a new finance system, further strengthening internal controls and governance framework
• Voluntarily committed to adopting the UK Corporate Governance Code

Climate Goals & Targets

Environmental Challenges

• Challenging macroeconomic environment impacting consumer spending
• Supply chain disruptions
• Labour shortages

Mitigation Strategies

• Carefully controlled price increases and discounts
• Assessing workforce reward, recognising the cost-of-living crisis
• Horizon scanning for geopolitical factors impacting supply chain
• Maintaining strong relationships with multiple carriers and logistics providers
• Continually reviewing stock levels and increasing investment in stock when uncertainties arise

Supply Chain Management

Supplier Audits: 30 full factory audits in the Far East

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Physical risks will primarily have an impact on our supply chain

Transition Risks

• Impact of carbon taxes
• Changes to fuel prices
• Reputational damage due to sustainability strategy failing to meet stakeholder expectations

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Water-saving taps and shower heads
• Products made from sustainable materials

Awards & Recognition

• Not disclosed