SFS drives transformation in the area of sustainability
Media release – May 26, 2023
In the past year, the SFS Group not only grew strongly, but also achieved good results in the area of sustainability. Great progress was made in particular in the environmental field, in expanding the share of energy from renewable sources and significantly reducing direct emissions. In dialog with stakeholders, SFS has defined new key topics, which will be reported on in a focused manner in the Sustainability Report 2022.
In 2022, reporting in the area of ESG (Environmental, Social and Governance) was adapted to the new requirements of the Global Reporting Initiative (GRI-Standards 2021). Together with the stakeholders, the following key topics were identified, on which SFS will report comprehensively in the future:
- Energy and emissions
- Sustainable solutions
- Procurement
- Employee promotion and engagement
- Occupational health and safety
Environment: Direct emissions reduced and share of renewable energy increased
The greatest progress was made last year in the area of the environment. With a reduction of –48.4% compared to the base year 2020, the SFS Group has taken a major step closer to achieving the planned target of reducing direct CO2 emissions by at least 90% compared to value creation by 2030. Direct emissions (Scope 1 and 2) were reduced by –18.7% in absolute terms in 2022, despite a 45.1% increase in sales. With a share of 49.7% (PY 37.7%), SFS significantly increased the use of renewable electricity as a percentage of total electricity consumption. This means that the company almost achieved its 2025 target of using at least 50% of electricity from renewable sources already last year.
Social: Employee development encouraged
In terms of social issues, the focus in 2022 was on employee satisfaction and development. Talent development was further expanded, particularly in the area of “middle management” and through the Advanced Leadership Development Program (ALDP). This should be seen in light of the fact that SFS wants to fill 70% of senior management positions with internal candidates. The number of accidents per million hours worked was reduced by –1.4%. This means that SFS must intensify its efforts to still be able to achieve the goal of halving the accident rate by 2025 compared to 2020.
Governance: High compliance standards maintained
In terms of corporate governance, as in the previous year, there were no compliance incidents that resulted in fines or legal proceedings. The results of the compliance audits conducted at four companies were positive. Thanks to the merger with Hoffmann, SFS was also able to expand its commitment to support disadvantaged children and young people.
Outlook for 2023: Filling data gaps and setting new targets
In 2023, SFS intends to close existing data gaps and set additional targets as a result. At the same time, there is a need to increase the focus on the rate of occupational accidents. In addition to the reduction targets for Scope 1 and 2 already announced, the development of a decarbonization strategy that will go all the way to net zero is planned.
Link to the Sustainability Report 2022 as PDF
Link to the Sustainability website