Spectra Systems Corporation
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Converted to LED lighting at R&D and manufacturing facilities, reducing electric consumption by an estimated 59,000 kwh annually
Social Achievements
- Donated US$35k to Leicester Royal Infirmary SACT Suite Extension project
- Covid protocols to safeguard employee health
- Professional development and tuition reimbursement program
Governance Achievements
- Adopted the Quoted Companies Alliance (QCA) Corporate Governance Code 2018
Climate Goals & Targets
Long-term Goals:
- Supply of upgraded sensors worth up to US$50 million
Medium-term Goals:
- Completion of development of new generation of sensors
- Supply agreement for polymer substrate technology
Short-term Goals:
- Fulfillment of new orders for covert materials
- Additional sensor development funding
- Increased sales of TruBrand™ products
- Increase K-cup business
- First sales of new phosphor product
- Sale of first banknote cleaning system
- Qualification of Fusion™ polymer substrate
- Expansion of gaming software business
- Supply of quality control equipment
Environmental Challenges
- COVID-19 pandemic impact on employee retention and attraction
- Patent expiry risks
- Dependence on key personnel
- Rapid technological change
Mitigation Strategies
- Incentivizing key employees through stock options
- Developing new products and technologies to remain competitive
- Succession planning
- Monitoring risks and implementing mitigation measures
Supply Chain Management
Responsible Procurement
- Maintaining relationships with key suppliers to ensure best quality materials and resources
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: QCA Corporate Governance Code 2018
Certifications: ISO 14001 (Printer and paper mill)
Sustainable Products & Innovation
- Fusion™ machine-readable polymer substrate
- Banknote Disinfection System