Environmental, social and governance (ESG)topics are crucial to our ability to effectively and responsibly accelerate our potential as a pure-play Components business whilst meeting the increasing expectations of all our stakeholders, including employees, customers and investors. Indeed, for us to continue to create shareholder value and build for the future, we must secure our ability to thrive in a sustainable future. This means reducing our impact on the environment, working with customers and suppliers to innovate our products as well as maintaining our ability to attract and retain talent and ensuring their engagement and wellbeing.
In 2022, we invested in reassessing Essentra’s ESG progress and in particular how we could better shape and apply our strategy to a pure-play Components business. Our valued customers are seeking increasingly sustainable products, and having the trust and confidence of the people we do business with is one of our most valuable assets and a clear source of competitive advantage that is key to our overall strategy.
Our new ESG strategy is aligned to five key pillars. Within each pillar we have aligned our existing targets, and developed new targets to support our priorities within each of these key focus areas for Essentra. We recognise that we are in the early stages of our journey so having these focus areas provides a structure around which we can engage and learn from stakeholders. Our approach to governance of ESG matters is designed to ensure that we remain true to our purpose “to help customers build a sustainable future” by creating for a for discussion and challenge, for example through a dedicated ESG Committee and as a standing agenda item on every GEC agenda.