Sustainability
Sustainability is a part of our purpose to Transform Tomorrow Together.
We're committed to reducing our environmental impact and helping our customers do the same. From cutting emissions in our operations to enabling more efficient manufacturing, we're supporting the shift to a more sustainable future.
Our commitment to Net Zero
In November 2021, we announced our Net Zero targets, approved by the Science Based Targets initiative (SBTi) and the UN Sustainable Development Goals (SDGs) that we are actively contributing towards. This means (i) minimising our environmental impact, and (ii) working in partnership with our customers, suppliers and local communities to create positive change for people and the planet.
As a responsible business that believes in acting with integrity, we strive to help create a more sustainable future. That means making our own products in ways that minimise our impact on people and the planet, and helping our customers and suppliers achieve their own sustainability goals.
Will Lee, Chief Executive
Our Environmental, Social and Governance (ESG) strategy
Our ESG strategy aligns with our overall Group strategy and is built upon our core values and commitment to doing business responsibly. We aim to integrate ESG into everything we do, demonstrating our commitment to being a sustainable and responsible business, driving competitive advantage and innovation. It goes beyond the Net Zero greenhouse gas (GHG) emissions targets that we set in FY2021, recognising that building a sustainable future means addressing the broader ESG challenges together.
Environmental strategic targets
Climate:
- Reduce GHG emissions associated with product design, service and use
- Achieve >50% reduction in GHG emissions from our operations, purchased energy and supply chain by 2030, as part of progress towards net zero
- Continue to ensure strategic business decisions reflect the climate related financial risks and impacts for our business
Customer solutions:
- Progressively achieve growth from sales of new and existing products with quantifiable sustainability benefits for our customers over the period 2025 - 2028
Responsible procurement:
- Reduce sustainability impacts and potential risks from purchased goods and services across Renishaw's global supply chain over the period 2024 - 2028
Social strategic targets
People:
- Attract, develop and retain a diverse and highly engaged team of talent
- Develop and maintain a strong pipeline of future succession for management and key critical roles
Human rights:
- Implement a human rights assessment process across our business operations and all potential higher risk Tier 1 suppliers globally by 2028
Governance strategic targets
Business conduct & ethics:
- Ensure compliance with our Business Code of Conduct and demonstrate responsible business practices
UN Sustainable Development Goals
Our ESG strategy is underpinned by the three UN SDGs most relevant to our business and where we can have the most impact.
Learn more about how we are supporting our customers' sustainability goals
