Orthex’s Sustainability Report 2023 published: Strong commitment to our sustainability targets
Orthex Corporation, Press release, 18 March 2024 at 9.00 a.m. EET
Orthex Corporation’s Annual and Sustainability Report 2023 has been published. In addition to the Sustainability Report, the report includes the Annual Review, Corporate Governance Statement, Remuneration Report, the Board of Directors’ Report, and Financial Statements for the year 2023. Our Sustainability Report follows the ESG structure, and we discuss the progress of our sustainability work from the environmental, social and governance aspects and report on the results achieved on our journey towards carbon neutral production. We achieved or exceeded the majority of our sustainability targets set for the year 2023.
In 2023, the ISCC PLUS certificate of Orthex’s Lohja factory was renewed and Gnosjö factory was granted the ISCC PLUS certificate. This allowed us to extend the usage of renewable and recycled raw materials produced by applying the mass balance approach in several new product ranges. Our target is to increase the share of used renewable and recycled raw materials in our production to 80% by 2030. In 2023, this share increased to 15.8% (2022: 13.6.%). Our relative carbon footprint that eliminates the impact of business growth remained at the same level at 1.8 kg CO2 eq./kg (2022: 1.8 kg CO2 eq./kg). Due to volume growth, our total emissions increased to 27,217 tCO2-e (2022: 25,309 tCO2-e).
We will continue our work to increase the share of renewable and recycled raw materials in our production in order to reduce emissions. The company is involved in two significant raw material related projects together with partners, the aim of which is to find break-through solutions which would enable us to further increase the use of renewable and recycled raw materials in our products and reduce our carbon footprint. These cooperation projects support the company's ambitious target to reach carbon-neutral production by 2030.
Orthex’s sustainability work and climate actions were globally recognised in 2023. Orthex participated for the first time in the EcoVadis ESG assessment and was awarded with a silver medal for sustainability performance. The result places Orthex globally among the top 18 percent of companies assessed by EcoVadis. Orthex also reports on risk management and management practices related to climate change in Climate Disclosure Project’s (CDP) climate change program and we reached the highest Leadership level with a top score A- in the CDP rating. In addition, Orthex started preparations for the entry into force of the Corporate Sustainability Reporting Directive (CSRD), which applies to the company from the beginning of 2025.
"I am very pleased with the progress we made in our sustainability efforts. We will continue to work hard to reduce our emissions and to improve the sustainability of our products and operations. We want to offer consumers practical, high-quality, and long-lasting products which even after their end of life can be recycled,” says Hanna Kukkonen, Chief Marketing and Sustainability Officer of Orthex Corporation.
The Annual and Sustainability Report 2023 is available in Finnish and English on the corporate website at https://investors.orthexgroup.com/.
Further enquiries:
Hanna Kukkonen, CMSO, Orthex Corporation
Tel. +358 (0)40 053 8886
hanna.kukkonen@orthexgroup.com
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
alexander.rosenlew@orthexgroup.com
Distribution:
Nasdaq Helsinki Ltd
Main media
https:/investors.orthexgroup.com/
Orthex in brief
Orthex (ORTHEX, Nasdaq Helsinki, Finland) is a leading Nordic houseware company. Orthex offers a broad assortment of practical and durable household products with a mission to make consumers’ everyday life easier. Orthex main consumer brands are SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and plant care categories. Orthex aims to be the industry forerunner in sustainability and to become carbon neutral in its production by 2030. Read more www.orthexgroup.com.
Orthex’s net sales in 2023 were 85.9 million euros. The company has customers in more than 40 countries and local sales organisations in the Nordics, Germany, France, the UK, and the Benelux.