Thinkproject releases ESG Report: a snapshot of its sustainability journey
Full overview of sustainability achievements now available in a first-ever compilation
Munich, November 20, 2023 – Thinkproject, the leading European SaaS provider of software solutions for the construction industry, today presented its sustainability report showcasing a comprehensive list of its ESG (Environment, Social, Governance) initiatives for the first time. As a company dedicated to providing cutting-edge technological solutions for the Architecture, Engineering, Construction, and Operations (AECO) sector, Thinkproject embraces sustainability with a dual approach, recognising the significance of integrating ESG principles into its daily operations as well as within the software industry. Moreover, the company aims to empower its customers to adopt sustainable practices through innovative solutions that enhance their ESG performance.
Sustainability at Thinkproject is an overarching goal that encompasses its way of doing business and acting as a company. The newly published report demonstrates how the company addresses the three ESG pillars (Environment, Social, Governance) across daily operations, the software and AECO industries as well as through community engagement. The following brief selection of examples illustrates this commitment.
ENVIRONMENT
- Environmental initiatives in Thinkproject’s daily operations
Thinkproject is committed to taking meaningful actions to mitigate the environmental impact of its own operations and across its value chain. Thus, in July 2022, Thinkproject committed to set near-term companywide emission reductions. These targets have now been approved by the Science Based Targets initiative (SBTi) and the company is working with external experts to develop an action plan.
The CXO team is actively involved in overseeing and approving its decarbonisation and reduction targets. Thus, Thinkproject commits to reduce absolute scope 1 and 2 emissions by 42% by 2030 from a 2021 base year. In 2022, the main contributor to the company’s carbon footprint was purchased goods and services. Therefore, the company commits to reducing absolute scope 3 emissions from purchased goods and services by 25% within the same timeframe.
- Environmental initiatives impacting the AECO industry
Thinkproject’s solutions bring environmental benefits, such as tangible CO2 emission reductions. Its BIM solutions facilitate the identification of construction errors early in the building process, enabling savings in material waste, and in turn reduce the associated production and transportation emissions for such materials.
The Thinkproject SaaS suite makes green construction easier. The company’s products and solutions help customers to be more precise, save time and resources. Thinkproject allows for different stakeholders to work in a collaborative, digital manner, avoiding the loss of information, and enabling the early identification of potential issues during a project, therefore ensuring both quality and efficiency.
SOCIAL
- Social initiatives in Thinkproject’s daily operations
Thinkproject wants to ensure an inclusive and supportive work environment, where all employees feel valued and have equal opportunities for growth and development. In 2020, the company signed the Charter of Diversity (Charta der Vielfalt) to formalise its commitment to promote a diverse workplace.
Also, Thinkproject is committed to creating high-quality jobs by improving the wellbeing of its employees, providing competitive employee benefits, and skill development opportunities. Thus, all employees have access to training through the Thinkproject Academy and Udemy platforms, to guided meditations, and to an external consultant providing emotional support to employees facing challenging phases.
- Social initiatives benefitting the community
Having a strong relationship with the communities that it lives and works within is of significant importance for Thinkproject and its employees. Highlights in 2022 included among others:
- NHS Bristol: the UK team hosted an auction for the sale of artwork created by children receiving care at a local hospital.
- Des mach ma!: Thinkproject supported this organised volunteering initiative for businesses in Munich looking to support the local community – such as the Naturschutz Bund Bayern e. V. or the Catholic Women’s Welfare Service (SkF).
GOVERNANCE
- Governance initiatives in Thinkproject’s daily operations
Thinkproject is committed to upholding the highest standards of corporate governance as an integral part of its responsible business practices. Its CXO team play a pivotal role in overseeing the company’s strategic direction, dedicated to promoting long-term value creation for Thinkproject’s stakeholders. The CXO team demonstrate integrity in all interactions and adhering to the company’s Code of Conduct. Furthermore, robust risk management processes are in place, compliant with ISO 27001 and subject to annual external audit.
- Governance initiatives impacting the software industry
Thinkproject was delighted to receive an ESG Risk Rating of 9.3 from Morningstar Sustainalytics in 2022. Overall, the company’s management of material ESG issues is strong (74.6), and moreover, it scored particularly well in its governance initiatives such as the risk management of Data Privacy and Security (100.0) and Business Ethics (80.0). After conducting an exposure review, Sustainalytics assessed Thinkproject to be at negligible risk of experiencing material financial impacts from ESG factors. With consideration of the company’s strength of management and low exposure profile, Sustainalytics ranked it in the top 1% of companies in the Software & Services industry, as well as in the subindustry of Enterprise and Infrastructure Software.
"With this report, we create transparency about our ESG impact," says Andrea Collado Betrán, Director Sustainability at Thinkproject. "We know we're just starting out, and there's still a long road ahead. Embracing sustainability is an ongoing journey filled with meaningful changes and progress."
More information:
- The voluntary sustainability report covers all of Thinkproject’s ESG initiatives as per 2022. The complete report can be downloaded from here.
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About Thinkproject
Thinkproject is Europe's leading SaaS provider for Construction Intelligence solutions. The combination of practical experience and the intelligent use of data creates a decisive competitive advantage for customers. Thinkproject is thus at the forefront of digitisation and transformation in the AECO industry. With +700 employees worldwide, Thinkproject provides 3,250 customers and more than 300,000 users in over 60 countries with digital solutions that span the entire construction project lifecycle.
For more information, visit www.thinkproject.com.
Press Contact: Julia Schreiber, Möller Horcher Kommunikation GmbH, julia.schreiber@moeller-horcher.de, +49 3731 2070915
