Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainability
• Responsible Supply Chain

Environmental Achievements

• Saint-Gobain's energy savings generated by solutions are 90 times greater than the company’s greenhouse gas emissions.
• Stahl: More than 80% of Stahl products and systems are water-based. STAHL EVO: a 100% water-based product portfolio
• Cromology developed a new paint technology designed to permanently neutralize major indoor air pollutants.

Social Achievements

• Bureau Veritas ranked as preferred global brand for environment, health & safety verification services.
• Stahl's commitment to the UN Global Compact.
• Stahl Campus: a global knowledge center for the leather industry.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

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: Null

Certifications: ISO 14001, ISO 50001, SA 8000 (Bureau Veritas)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Cromology's depolluting paint

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainability
• Recyclability
• Emissions Reduction

Environmental Achievements

• CO2 emissions reduction by 22% between 2005 and 2019 (target of 40% by 2023)
• GHG emissions reduction by 10% between 2015 and 2019 (target of 24% by 2030)
• 56% of current sales generated from already recyclable products (77% of aluminum-based and 30% of film-based)

Social Achievements

• Average employee tenure of ~12 years
• CDP Supplier Engagement Leader (Score A-)

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Challenging market conditions
• Raw material cost increases
• Declining volumes in European markets
• Market share losses of key customers

Mitigation Strategies

• Improved operational efficiency
• Purchasing initiatives with €9.0m identified cost savings
• Headcount reduction (€10m savings over 2019 & 2020)
• 2 factory closures
• Gaining new market shares in coffee, cheese, and pet food
• Launching new recyclable, mono-material, and high-barrier products

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: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• EcoLam
• EcoCover
• EcoPouch
• EcoTainerAlu
• EcoLamPlus

Awards & Recognition

• CDP Supplier Engagement Leader (Score A-)

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• Paris head office uses 100% renewable energy since April 2020.
• Offset 10% of 2019 CO2 emissions in 2021.
• Reduced paper consumption by 71 tons in 2020 (Paris office).

Social Achievements

• 98% of employees trained in business ethics.
• 29.5 hours of non-mandatory training per employee.
• 90% of employees awarded stock options and/or performance shares.
• Signed the France Invest Parity charter.

Governance Achievements

• Revised Code of Ethics in 2020 to include commitments on human rights, environmental protection, community engagement, and responsible investment.
• Established an ESG Steering Committee.
• Implemented Wendel Protect tool for compliance and internal control.

Climate Goals & Targets

Environmental Challenges

• Human resources challenges, including risks related to the health and safety of teams in the context of COVID-19.
• Climate change risks impacting investment activity.
• Risks related to business ethics (combating corruption, preventing market abuse).

Mitigation Strategies

• Robust anti-corruption and influence peddling program.
• Market Confidentiality and Ethics Code to prevent market abuse.
• Remote working rules.
• Analysis of climate risks in portfolio companies.
• Responsible purchasing process.

Supply Chain Management

Supplier Audits: 100% of investment opportunities audited for ESG due diligence.

Responsible Procurement

• Investment Exclusion Policy
• Third-party assessment process
• Responsible Sourcing Policy (Constantia)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SASB, UNPRI

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• Goal 4
• Goal 5
• Goal 8
• Goal 12
• Goal 13

Wendel aligns its ESG strategy with these SDGs through various initiatives in its portfolio companies.

Awards & Recognition

• Transparency awards Gold Label
• Inclusion in Dow Jones Sustainability Index

Environmental Metrics

ESG Focus Areas

• Governance
• Social
• Environmental

Environmental Achievements

• Stahl reduced carbon emissions by 16% between 2020 and 2021
• Constantia Flexibles joined the CDP’s “A-list” for long-term investment towards the circular economy and responsible packaging
• Wendel reduced CO2eq emissions in scopes 1+2+3 per employee from 75 tCO2e to 76 tCO2e
• 26% renewable energies in Wendel’s energy consumption

Social Achievements

• Wendel won the “Diversity in management bodies” category at the L'Agefi Corporate Governance Awards in 2021
• Wendel's Sustainalytics rating upgraded from Low Risk to Negligible Risk
• Wendel improved its score in the Gaia Rating extra-financial questionnaire from 69/100 to 75/100
• Wendel obtained a score of 3.4/5 in the Financial Times Stock Exchange (FTSE) extra-financial rating exercise
• Wendel received a B- rating in response to the CDP Climate Change 2020 questionnaire
• Wendel improved its score in the Dow Jones Sustainability Indices (DJSI) World and Europe to 76/100
• 99% of Wendel employees trained in business ethics
• 99% of employees trained over the year with 29.5 hours of training per employee on average

Governance Achievements

• Inclusion of ESG objectives in the financial conditions of its €750 million syndicated loan
• Wendel is a member of the United Nations Global Compact
• Wendel included ESG criteria in the variable component of compensation for the extra-financial objectives of its top management (c. 17.5% of the maximum remuneration of the members of the Executive Board rests on ESG criteria in 2021)
• Wendel's inclusion in the Dow Jones Sustainability World and Europe indexes for the second year in a row

Climate Goals & Targets

Environmental Challenges

• Climate change mitigation and adaptation
• Health and safety of employees and consumers
• Products and services with added environmental and social value

Mitigation Strategies

• Implementation of actions to reinforce eco-efficiency and environmental management
• Adoption of a continuous improvement approach to health and safety in the workplace
• Offering customers and end-users value-added products and services with added environmental and/or social value

Supply Chain Management

Supplier Audits: 51% of suppliers with a third-party ESG label

Responsible Procurement

• Responsible Procurement approach

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

UN Sustainable Development Goals

• SDG 4
• SDG 5
• SDG 8
• SDG 12
• SDG 13

Awards & Recognition

• Grand Prix de la Transparence award

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Social
• Environmental

Environmental Achievements

• 100% of portfolio companies assess their carbon footprint yearly in accordance with GHG Protocol standards.
• Wendel SE and its controlled portfolio companies have all defined low-carbon products and services.
• Around 99.9% of Wendel SE’s controlled portfolio companies GHG emissions are covered by Science-Based Targets approved by the SBTi.

Social Achievements

• 100% of controlled portfolio companies formalized an ESG transformation roadmap aligned with their global strategy.
• Wendel renewed its survey to assess mental health risks in 2022, extending it to all international offices.
• Implementation of a Remote Work Charter aiming to offer flexibility to employees.

Governance Achievements

• Supervisory Board training on ESG and climate change in 2022.
• ESG and climate issues on the agenda in 2022 for Supervisory Board, Governance and Sustainability Committee, and Audit, Risks and Compliance Committee.
• A portion of the variable compensation for the Executive Board and members of the Coordination Committee is contingent on the achievement of ESG objectives. In 2023, criteria relating to the implementation of climate objectives have also been implemented separately for the Executive Board.

Climate Goals & Targets

Environmental Challenges

• Transition risks (carbon price increase, stricter regulations on emissions, changes in commodities costs)
• Physical risks (sites vulnerable to physical hazards)
• Emerging risks (military conflicts and civil unrest, transformation of working methods)

Mitigation Strategies

• Measuring and anticipating potential costs generated by carbon emissions tax; vigilance regarding emissions trading systems.
• Monitoring changes in European and international regulations; encouraging portfolio companies to respect best standards for emissions reduction.
• Securing multiple and diversified supply chains; optimizing quantities of product used; participating in improving recycling capacities.
• Encouraging portfolio companies to monitor emerging trends and risks of substitution; increasing the share of products and services with environmental added value.
• Climate resilience plans for Stahl and Constantia Flexibles addressing potential vulnerabilities.
• Assessing geopolitical context during pre-acquisition phase; providing expertise on navigating challenges like political instability and international sanctions.
• Wendel’s family ownership and permanent capital provide greater stability during periods of market instability.
• Implementing a Remote Work Charter; renewing mental health risk assessment survey; improving IT security and implementing cybersecurity awareness campaigns.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Carbon price increase
• Stricter regulations on emissions
• Changes in commodities costs

Opportunities

• Substitution of existing products and services in favor of low-carbon solutions
• Changes in consumer expectations

Reporting Standards

Frameworks Used: TCFD, GHG Protocol, PCAF Standard, SASB, SBTi

Third-party Assurance: Independent third-party organization (reasonable assurance)

Sustainable Products & Innovation

• Bureau Veritas’ Green Line segment
• Constantia Flexibles’ recyclable packaging
• Stahl’s water-based products
• Digitalization of CPI’s training courses

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 53% of net sales associated with products with environmental added value in 2023
• 100% of controlled portfolio companies monitoring their carbon footprint (Scopes 1, 2, and 3)
• 80% of controlled portfolio companies have implemented climate change risk resilience plans
• 60% of controlled portfolio companies have an environmental management system (in particular via ISO 14001 certification)

Social Achievements

• 100% of controlled portfolio companies adopted a continuous improvement approach to health and safety in the workplace
• 100% of controlled portfolio companies organize health and safety training
• 30% women among all people appointed directly or indirectly by Wendel to the relevant Boards
• 100% of controlled portfolio companies committed to improving gender balance in their workforce
• 31% women in the total workforce of controlled companies in 2023
• 30% women in management positions in 2023
• 31% women in shareholder governance bodies in 2023
• 39% women in operational governance bodies in 2023

Governance Achievements

• 100% of controlled portfolio companies have formalized an ESG transformation roadmap aligned with their global strategy
• 100% of controlled portfolio companies' progress in relation to their ESG roadmap is reviewed at the Company Board level annually
• 100% of ESG roadmaps reviewed each year by Wendel’s Executive Board
• ESG roadmaps reviewed each year by Wendel’s Governance and Sustainability Committee and/or Supervisory Board
• 100% of CEOs in the controlled portfolio whose variable compensation is contingent on progress on their ESG roadmaps
• A variable portion of the Coordination Committee’s compensation contingent on the progress made by all portfolio companies on their ESG transformation roadmaps
• Progressively aligning Wendel’s annual non-financial reporting with international standards, such as the Task Force on Climate-related Financial Disclosures (TCFD) reporting framework

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

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: ISO 14001, OHSAS 18001 or ISO 45001

Third-party Assurance: Independent third-party

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed