Genexis Sustainability Report 2023: EcoVadis Gold and approved Science-based Targets
This is a revised version of the press release about the Genexis sustainability report. This version contains a link to the website where it is published.
In 2023 Genexis made significant progress in sustainability, reinforcing the company's commitments to proactively minimize our carbon footprint, develop the well-being of our people, and engage and promote a responsible supply chain.
“We are proud of our sustainability efforts, and we aspire to be a frontrunner in our industry by setting an example of our genuine commitment and long-term ambition,” says Olivier van Duuren, Sustainability officer at Genexis.
2023 sustainability highlights:
Achieved EcoVadis gold medal: from a globally recognized authority on sustainability assessments, including Environment, Human & Labor Rights, Ethics, and Sustainable Procurement.
Initiated Carbon Disclosure Project (CDP): began steps to submit data for CDP assessment. The initial submission resulted in an industry-average score (C), and we are committed to improving this further in 2024.
Actively engaged in industry workgroups: including EU Code of Conduct on Energy Consumption of Broadband to leverage collaborations to deepen understanding of key topics, preparations for future regulations and developments, and drive the industry toward sustainable excellence.
Established Sustainability-linked bond (SLB): This SLB framework ensures the further integration of sustainability objectives, seamlessly integrated with financing activities. Two performance targets have been set to increase the share of recycled plastics to 55% by 2026 and set Science-Based Targets (SBTs) for scopes 1-3 to reduce CO2 emissions.
Approved Science-based targets: by the Science-Based Targets initiative (SBTi). These include:
- Reducing scope 1 and 2 greenhouse gas emissions by 42% by 2030 from a 2022 base year and measuring and reducing scope 3 emissions.
- Reach net zero by 2050. As part of this, we commit to reduce scope 1,2,3 emissions by 90% by 2050 from a 2022 base year.
Other 2023 highlights include:
Environmental
- -8% average kWh/year on all products
- -23% below Code of Conduct targets
- 17% of material weight in sold products is circular
- 38% printed circuit board assembly (PCBA) weight of sold products
- 81% recycled plastics in new products
- 100% recycled carbon packaging
- 78% more products per pallet
People
- 40% women on our board
- 24% unadjusted pay gap
Governance
- 100% signed supplier Code of Conduct
Link to Sustainability report on genexis.eu: https://genexis.eu/news/genexis-sustainability-report-2023-ecovadis-gold-and-approved-science-based-targets
For any queries please contact:
Genexis
Genexis Newsdesk
News@genexis.eu
About Genexis
Genexis brings the world to everyone’s home. We enable people to participate in the digital society and access essential services and applications. Fast and user-friendly digital connectivity improves people's quality of life and positively impacts their world. By creating innovative, more sustainable, and intuitive products, we make it easy for homes to connect to the world.
Genexis is a leading European vendor of innovative broadband solutions for in the home. Our customers are network operators, internet service providers, and fiber network installers. Genexis’ portfolio consists of ONTs, residential gateways, extenders, open-source-based operating systems, and communication management software. We are a European company headquartered in Stockholm (SE) and Eindhoven (NL). Genexis has a Sustainability Linked Bond listed on Nasdaq Stockholm and has earned the EcoVadis Gold medal for sustainability.
