OTAQ PLC
Climate Impact & Sustainability Data (2020-04 to 2021-03, 2023)
Reporting Period: 2020-04 to 2021-03
Environmental Metrics
Total Carbon Emissions:57 tCO2e/year
Scope 1 Emissions:11 tCO2e/year
Scope 2 Emissions:33 tCO2e/year
Scope 3 Emissions:13 tCO2e/year
Total Energy Consumption:143 MWh/year
ESG Focus Areas
- Environmental impact of operations
- Health and safety
- Anti-bribery and corruption
- Equal opportunities
- Human rights
Environmental Achievements
- Relocation to new modern premises for the Connectors division (estimated saving: 10,000 kWh)
- Procurement of electric vehicles (estimated saving: 0.5 tonnes CO2)
- Modernisation of IT suite (estimated saving of 2,000 KwH)
Social Achievements
- Zero loss time incidents for the year
- Employee absenteeism and turnover in line with targets
- 64% of staff are OTAQ shareholders
Governance Achievements
- Established a whistleblowing policy
- Implemented a Share Incentive Plan
- Maintained ISO 9001:2015 certification
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Financial benefits from Minnowtech and Blue Lion partnerships
- Commercial sales of shrimp biomass measurement technology
Short-term Goals:
- Renewed growth in Sealfence sales
Environmental Challenges
- Decline in Sealfence unit deployments due to Marine Scotland's environmental review
- Covid-19 pandemic impact on operations and business development
- Reduced activity in the North Sea oil market impacting Offshore division revenues
Mitigation Strategies
- Working closely with Marine Scotland to provide data on ADDs' benign impact
- Implementing safe ways of working for employees
- Focusing on growth opportunities in Chile and other markets
- Developing adjacent technologies to broaden reach in the aquaculture sector
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: QCA Corporate Governance Code for Small and Mid-Size Quoted Companies
Certifications: ISO 9001:2015
Third-party Assurance: RSM UK Audit LLP
Sustainable Products & Innovation
- Sealfence
- Shrimp biomass measurement technology
- Phytoplankton detection technology
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:220 tonnes of CO2
Scope 1 Emissions:18
Scope 2 Emissions:202
Scope 3 Emissions:173
Total Energy Consumption:215 MWh
Carbon Intensity:5 tonnes of CO2 per employee
ESG Focus Areas
- Environment
- Health and safety
- Anti-bribery and corruption
- Equal opportunities
- Human rights
Environmental Achievements
- 3,199 days without a loss time incident
Social Achievements
- 27% of staff are OTAQ shareholders
- 12 employees partaking in the Share Incentive Plan scheme
Governance Achievements
- Zero-tolerance policy on bribery and corruption
- Supports equal opportunity for all employees
Climate Goals & Targets
Environmental Challenges
- Key personnel risk
- Economic conditions
- Interest rate risk
- R&D and product development risks
- Competition
- Regulation
- Acquiring new customers and business
Mitigation Strategies
- Succession planning
- Diversification of revenue streams
- Managing interest rate risk through cash reserves and short-term deposits
- Ongoing R&D roadmaps and investment in R&D teams
- Close customer relationships and long-term contracts
- Working with local authorities to ensure product compliance
- Focus on developing commercially valuable products and customer relationships
Supply Chain Management
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- Live Plankton Analysis System (LPAS)
- Shrimp sonar
- Water quality monitoring products
- OceanSense subsea leak detection
- Eagle IP camera systems
- Lander seabed survey devices
- Subsea electrical connectors and penetrators