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Proven sustainability performance

Ask Elematic with Matti Tirkkonen, Chief Financial Officer

As you can see on the pages of this magazine, sustainability is an all-important theme for people in the precast industry. Throughout the value chain, concrete actions are taken to make sure that our line of business will contribute to making this world a better place for generations to come.

Elematic has made sustainability a top priority in its strategy for 2022–2024. By following three factors – Environmental, Social and Governance issues (in short, ESG) – it is possible to evaluate how advanced a company is with sustainability. As part of that agenda, CFO Matti Tirkkonen heads a team working to make Elematic’s sustainability work more visible and transparent to all stakeholders.

Elematic aims to provide the best precast technology in a safe and sustainable way. What does that mean in practice?

ESG is one of our focus areas in the 2022–2024 strategy. As a leading supplier of precast concrete technology, we want to lead by example and make our ESG actions transparent to our stakeholders by setting concrete targets and goals, reporting them, and showing what we have already achieved on the three areas. The ESG reporting is not yet obligatory, but it will be in some years. We are happy to be forerunners.

One example of ESG in practice is that Elematic Group operations’ CO2 emissions are calculated with an external partner according to the international GHG Protocol. We are doing the calculation for the first time, and we decided to have the most extensive scope 3 calculation to set the proper basis for our sustainability development. Scope 3 calculation does not only cover direct emissions from our operations or purchased energy, but also from purchased external materials and services, the supply chain, business travels and commuting, waste disposal, and investments

Once the emissions are known, they can be systematically reduced and optimized. When we have the results, we can set concrete targets and cut down emissions. ESG is a continuous process.

Why are you concerned with ESG issues?

First of all, we want to be better citizens and a better company. We need to show our stakeholders where we are and what has already been done, and that our slogan, “The Future runs green”, means actions. All companies should be interested in ESG: company responsibility counts in financing, customer experience, employer image, recruiting, anything that the company does.

How is Elematic doing with regards to ESG?

Sustainability has been part of our operation for a long time already. We have, for example, worked hard to become ISO 14001 certified. The environmental management certification shows the way for our operations and sets the frame for setting KPIs, for example how we manage waste in production and how to improve.

What is next in Elematic’s ESG work?

We will interview our stakeholders and conduct an online survey about what our stakeholders find important related to environmental, social and governance aspects. You will hear from us soon!

Once we have done our materiality assessment later this year with external and internal stakeholders and we have our calculations ready, we will have solid foundation to set targets to our ESG work.

The sustainability goals, development, and performance will be reported from 2022 onwards.

Why should precasters care (what’s the benefit for the customers)?

ESG is already or will be very soon on the agenda, and it will expand in the future. Construction companies, developers, and for example banks will require sustainable operations from precasters before starting projects or granting funding. When Elematic supplies technology, our stakeholders can be assured that the ESG topics are handled well, and that they have a responsible partner.

Everyone should care about sustainability and the fact that companies operate responsibly and further develop their environmental performance to make sure that we leave a healthy, green planet for our children and all future generations.

The ISO 14001 environmental management certification shows the way for our operations and sets the frame for setting KPIs, for example how we manage waste in production and how to improve.

Matti Tirkkonen, CFO