ComAp has published its first-ever Environmental, Social, and Governance (ESG) Report, evaluating its performance in 2023. With this report, ComAp is prepared for the European Sustainability Reporting Standards (ESRS), which will take effect in two years. The company has closely analysed its performance in relation to sustainability, undergoing double-materiality analyses, ESG-related risk analysis and carbon footprint calculation, while setting targets and ambitions for the future, including reducing Scope 1 and 2 emissions by 50% by 2030.

“We are very pleased to have undertaken this report on our Environmental, Social, and Governance performance. We believe it not only provides insight into the next steps for the progression of the company but also offers our partners and stakeholders the opportunity to learn with us and join our efforts toward environmental sustainability,” says Frederic Deman, ComAp´s CEO. He adds: “One of our key strategies is to empower our customers in their initiatives to decarbonise.”

Based on a thorough analysis, ComAp identified three strategic pillars in its sustainability efforts, which helped define the strategic goals and ambitions:

1. Fossil fuel reduction through existing products

2. Development of new renewable products and services

3. Acting responsibly across the entire value chain

Environmental Stewardship: Ambitious Goals for a More Sustainable Future
In the Environmental area of its ESG goals, ComAp has committed to reducing its Scope 1 and Scope 2 emissions by 50% by 2030. At the same time, it has set a target to grow its revenue from EU Taxonomy-eligible businesses to above 50% by 2030. In the longer term, or in areas where the company cannot directly influence outcomes, ComAp has set additional ambitions: to achieve net zero in Scope 1 and 2 by 2035 and to find solutions to reduce absolute Scope 3 emissions by 20% by 2030 while increasing significantly its revenue over the same period.

Social Responsibility: Empowering People and Communities
ComAp defines itself as a people-focused company, ensuring an environment of support, learning, and growth. The company focuses on diversity and inclusion, setting a target to achieve an adjusted gender pay gap of +/- 2% (considering individual employee performance) by 2030 and maintaining a stable promotion rate of 13% until 2030. To ensure employees' voices are heard, ComAp runs a regular "Your Voice" satisfaction survey that provides valuable feedback. ComAp is committed to maintaining an employee satisfaction rate of at least 75% in this survey by 2030.

Governance Excellence: Leading with Integrity and Transparency
ComAp follows best practices in Corporate Governance, including the UK Corporate Governance Code. The company will implement International Financial Reporting Standards and is committed to maintaining zero instances of bribery, adhering to anti-trust regulations, and complying with applicable sanction regimes. To further ensure transparency and accountability, ComAp has also established a global whistleblowing policy, set up internal reporting channels and appointed an independent whistleblowing officer.

To read the full ESG report, please go here.