The Chairman's message
I would like to thank the group’s employees and managers for their strong commitment to the priorities identified in 2021. Thanks to them, we have reached and even exceeded almost all of our targets for 2022 and are ahead of our roadmap, which should enable us to meet our 2030 ‘sustainable development‘ objectives. Fully aware of our staff’s workload over the past couple of years, we have created 38 jobs in France and welcomed 33 sandwich-course students.
As we had promised, we have taken an important step by setting up a sustainable development unit within the group. This team of specialists, headed by Caroline Desplats, immediately began working with members of staff in the subsidiaries to take practical measures in the areas of carbon assessments, quality, eco-design, communications, training and sobriety plans.
These efforts have enabled us to record an improved Gaïa rating, a first «B» rating from CDP and the first two subsidiaries (Thermador and Sferaco) rated «Platinum» by Ecovadis. Two major improvement points were noted during the past year.
Firstly, the Life Cycle Assessment of our brass ball valve range showed us the wide disparities of the carbon emission factors for the evalution of our products’ footprint. This led us to postpone the quantification of our reduction targets on our indirect emissions. Secondly, an investor-shareholder pointed out to us in September 2022 the low rating given by the extra-financial rating agency Moody’s - ESG (28/100). We have since been working to better comply with their methodology, leading to what we consider a meaningful first step (a score of 44/100), with no controversies identified.
The geopolitical events of 2022 have put energy saving and the players contributing to the necessary ecological transition back centre-stage. It serves to highlight the positive role our group can play in the energy optimisation of buildings and in the circular economy. We also have an active role to play in water management, to be promoted once the taxonomy has classified the economic activities concerned.
We wasted no time in assessing our sales of «green» products that meet European taxonomy criteria, which are estimated at 14.9% of our turnover.
Among our key challenges for 2023, we highlight four of them:
THE EXECUTIVE COMMITTEE INVOLVED AT THE HEART OF OUR CSR STRATEGY
Meeting of our Executive Committee on 5 July 2022 to endorse our priority sustainable development objectives.
In 2022, several of our subsidiaries requested an EcoVadis assessment of their CSR performance.
Thermador Groupe responded to five extra-financial rating questionnaires, some of which came directly from investors, and we had one unsolicited assessment: Gaia - ESG Index, Humpact France, extra-financial rating agency on employment in France, CDP, La Financière de l’Echiquier, Gestion 21, Moody’s (unsolicited assessment).
With the aim of transparency and openness, particularly towards investors and shareholders, Thermador Groupe also participates in conferences dedicated to ESG issues.
|OVERALL RATING OVER 3 YEARS
The extra-financial achievements of Thermador Groupe are recognised by the ”Gaïa-rating” index. Since its launch, we have been among the leaders of this index, which is produced independently by EthiFinance.
In 2022, for the year 2021, we were awarded the gold medal, ranked 15th in our sector (out of 76 companies) and 10th of companies with a turnover of between 150 and 500 million euros (out of 82 companies).
Humpact’s mission is to show that it is possible to combine economic success and just transition in France and Europe. Humpact provides investors with the necessary tools to understand the societal impact of their investments. In 2022 as in 2021, Humpact awarded Thermador Groupe a score of 4.5 stars out of 5 in recognition of its excellent employment performance.
Thermador Groupe won the Grand Prix Humpact Employment 2022 in the ”Youth Employment” category. This prize honours us and is a recognition of our actions for the development of youth employment.
|In 2022, the corporate social responsibility performance of our subsidiaries was assessed by EcoVadis to promote transparency and trust among our customers and business partners. Ten of our subsidiaries were assessed in 2021 and 2022, reflecting their willingness to engage in an assessment process. Coordination within the group ensures these performance assessments serve as levers for improvement.
Sedex is a global organisation that helps companies improve ethical and responsible business practices. Our subsidiaries Dipra and Mecafer Domac have been responding to the Sedex CSR questionnaire, which is a self-assessment for European companies. Non-EU companies are audited, based on documents that verify CSR commitments throughout the supply chain. This tool helps to map and reduce risks in supply chains. The Sedex questionnaire does not give a score, but proposes an action plan if areas for improvement are identified. The latter is qualified after a new submission.
The CDP is an international non-profit organisation that manages the world’s largest environmental database. It encourages investors, companies, states and regions to measure their impact in order to take concrete action. It is a reporting tool that responds to the growing demand for transparency, and beyond that, provides elements to build a roadmap. This is why we have decided to invest in this rating, for the first time in 2022. Companies are evaluated on the basis of 4 levels (A, B, C, D). We are proud to have achieved a B grade for this first year.
Moody’s ESG Solutions is a unit of Moody’s Corporation that addresses the growing global demand for ESG and climate information. Committed to shaping a sustainable future, Moody’s ESG Solutions helps assess climate and environmental risk exposure, strengthen sustainability action plans and communicate with key stakeholders. An investor-shareholder pointed out to us in September 2022 the low rating given on the basis of 2020 data provided (28/100). We have since been working to better comply with their methodology, leading to what we consider a meaningful first step (a score of 44/100), with no controversies identified.
Thermador Groupe selected 11 sustainable development goals (SDG) amongst the 17 defined by the UN.
These objectives are part of our value chain presenting our strategy and our commitment as an economic player. The assessment of the environmental and social impact concerns all companies in the consolidation scope based in France and in Belgium.
To illustrate Thermador Groupe’s commitment, the United Nations sustainable development goals have been included in our extra-financial performance indicators.