Global coatings manufacturer Hempel (Lyngby, Denmark) recently announced the launch of “Futureproof” as the group’s new sustainability framework, Futureproof. The launch follows the announcement that Hempel plans to double its revenue by 2025.
“We firmly believe that placing sustainability at the heart of how we do business is essential for our ambition to double the company,” says Katarina Lindström, chief operating officer and executive vice president. “Our customers expect more sustainable solutions, and today's and tomorrow's employees want to work for companies that have a clear and progressive position on sustainability. And of course, it's the right thing to do.”
“Our ambition to double by 2025 makes our commitment to sustainability even more important,” Lindström adds. “We want to break the link between growth and our environmental footprint. Meaning, we will double in size but our environmental footprint will not.”
Futureproof is described as Hempel’s framework for delivering on a strategic goal of sustainability leadership. “Our purpose is to shape a brighter future with sustainable coating solutions,” Lindström says. “That’s what drives us every day. Futureproof is about turning ambition into action and staying one step ahead.”
A key focus area is climate. On that front, Hempel says it is taking some crucial steps. The company plans to be carbon neutral in its own operations by 2025 and has made a commitment to set science-based targets in their value chain in accordance with the 1.5 °C pathway. Only 300 companies worldwide have committed to this.
“It's a game changer for us,” Lindström says. “It will have a big impact on how we operate our business: how we run our factories, how we select our suppliers, how we produce our products.”
Reducing emissions is also an essential part of Hempel’s value proposition. The company’s goal is to reduce customer carbon dioxide (CO2) emissions by at least 30 million tons by 2025.
“We already have solutions that enable fuel savings and keep buildings cooler,” Lindström says. “In the future, we want to have even more products and services that give customers tangible and measurable sustainability benefits.” The company’s plan is to make sustainability a key driver for product development and innovation, e.g. by establishing technology research programs and harnessing Hempel’s new innovation incubator, GrowHub.
The sustainability ambitions also cover social aspects, such as inclusion and diversity.
“At Hempel, we want our employees to feel they are respected and treated fairly and that everybody brings their whole self to work,” says Pernille Fritz Vilhelmsen, executive vice president and chief people and culture officer. “Diverse teams create better ideas, and companies that succeed in bringing diverse teams together have higher earnings. Inclusion and diversity is the key to how we innovate and evolve as a company.”
Many of the greatest sustainability challenges, such as climate change, are likely to require breakthrough innovations and a challenge to traditional practices, according to the company. “We welcome partnerships with both customers and suppliers and are also looking for opportunities to strengthen our sustainability innovation muscle through joint ventures and M&As [mergers and acquisitions],” says Lindström.
“We are embarking on a journey,” she concludes. “Wiring sustainability into our business does not happen overnight. We will have to run both fast and far, and we are committed to making it happen.”
Source: Hempel, www.hempel.com.