Climate Change Data

Tower Cold Chain (owned by CT2 Holdings Ltd)

Climate Impact & Sustainability Data (October 2022 to September 2023)

Reporting Period: October 2022 to September 2023

Environmental Metrics

Total Carbon Emissions:250,605 tCO2e (Scope 1 and 2)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:209,990 kWh
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:209,990 kWh
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Product Innovation, Development & Circularity
  • Employee Engagement
  • Business Ethics
  • Diversity, Equity & Inclusion (DEI)
  • Supply Chain Engagement
  • Community Relations
  • Data Privacy & Security
  • Water Management
  • Climate Change & GHG Emissions

Environmental Achievements

  • Received EcoVadis Silver Medal (upgraded from Bronze in 12 months)
  • Introduced KTEvolution range of reusable containers
  • Launched Evolution1600, the lightest fully-reusable passive pallet shipper
  • Achieved ISO 14001 Certification
  • Installed an 80 kWp solar panel system, generating approximately 75,000 kWh of electricity annually
  • Supplier switched to electric heating in rotomolding, resulting in a 20% reduction in energy usage per product

Social Achievements

  • Maintained a zero-incident record of non-compliance with health and safety regulations
  • Provided training to 100% of employees
  • All employees received comprehensive performance reviews
  • Achieved ISO 45001 certification for Occupational Health and Safety
  • Organized and supported multiple charity initiatives

Governance Achievements

  • Implemented a whistleblowing policy
  • Established a robust anti-bribery policy with zero reported incidents
  • Maintained a zero-incident rate of non-compliance across all operations
  • Established an ESG committee reporting to the Board

Climate Goals & Targets

Long-term Goals:
  • Achieve carbon neutrality by 2030
  • Work towards global net-zero targets by coordinating with all customers and suppliers
Medium-term Goals:
  • Monitor and record the quantity of non-renewable and renewable materials obtained and used as inputs by 2025
  • Repurpose at least 25% of plastic and metal materials from single-use containers to create new containers by 2030
  • Damaged unit shipments to account for less than 10% of inventory movement by 2030
  • 100% of suppliers engaged with sustainable procurement policies by end of 2025
  • At least 80% of employees to have completed new learning programme by 2025
Short-term Goals:
  • Reduce Scope 1 and Scope 2 emissions from energy consumption at headquarters
  • Source 20% of energy from renewable solar sources by 2024 at Theale HQ
  • Phase out natural gas consumption at Theale HQ from 2025
  • Establish new procurement criteria and integrate geographic proximity into formal supplier assessment by end of 2024
  • Measure Direct GHG emissions (Scope 1) from sites in New Jersey and Singapore and report in the following year

Environmental Challenges

  • High energy consumption in cold chain logistics due to refrigeration
  • GHG emissions from transportation vehicles
  • Lack of supply chain transparency
  • Temperature variations leading to product spoilage
  • Packaging waste
  • Decarbonisation of all operations within the value chain
Mitigation Strategies
  • Investing in solar energy generation
  • Introducing an electric vehicle charging scheme
  • Partnering with Custom Solar for solar panel installation
  • Collaborating with Cardiff Business School to optimize supply chain for greater efficiency and reduced emissions
  • Exploring options to manufacture in North America to minimize transportation
  • Prioritizing weight reduction in product development
  • Implementing a leasing business model (servitisation) to reduce waste
  • Implementing robust procedures to manage assets and minimize waste
  • Recycling and repurposing of damaged containers

Supply Chain Management

Supplier Audits: All critical suppliers are risk assessed and audited for approval. Critical supplier performance is reviewed annually and audited in the event of any potential or actual performance issue.

Responsible Procurement
  • All suppliers must have a code of conduct covering labour standards, human rights and business ethics
  • Environmental management system in place for all critical suppliers
  • Screening for environmental inefficiencies and opportunities for more environmentally responsible business activities

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
Transition Risks
  • Market volatility
Opportunities
  • Carbon savings and improved sustainability through renewable energy and efficient operations

Reporting Standards

Frameworks Used: GRI, TCFD

Certifications: ISO 14001, ISO 45001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • 7
  • 9
  • 12
  • 13
  • 14
  • 15

Tower's ESG strategy is aligned with several UN SDGs, including those related to affordable and clean energy, industry, innovation and infrastructure, responsible consumption and production, climate action, life below water, and life on land.

Sustainable Products & Innovation

  • KTEvolution reusable containers
  • Evolution1600 reusable pallet shipper

Awards & Recognition

  • EcoVadis Silver Medal