Our CEO's view on the business
"It is our priority to make sustainability easier for our users without compromising product safety and clinical performance."
Coloplast is a purpose-driven company. For more than six decades, we have worked to make life easier for people with intimate healthcare needs. Today, we help more than two million – and aspire to help even more in the years to come. Last year, we launched our Strive25 strategy with a clear priority to run our company in a more sustainable way. We want to improve our products and packaging and reduce emissions while improving how we operate responsibly. Although there is still more work to do, I believe we are showing good progress across all three areas. Here are a few highlights.
Improving products and packaging
Plastic waste is a challenge in our society and Coloplast is committed to being part of finding sustainable solutions. Our priority is to bring more renewable materials into our products and packaging and increase recyclability, as well as working on our product design to minimise our impact. As there are strict limitations on our products, there are more possibilities when it comes to packaging. In 2020/21, we have focused on primary packaging and initiated a project to convert virgin PET plastic trays to recycled PET plastic trays in ostomy baseplates and protective seals within our supporting products portfolio.
During 2020/21, we exceeded our waste recycling target of 50% by 2025 due to a new partnership in Hungary, enabling us to recycle our production waste into materials used for flooring in playgrounds and sports fields. Consequently, we now recycle 58% of our production waste. The partnership shows the potential in seeking new and different ways of operating, and we will continue to pursue options like these to accelerate the agenda even further. Therefore, we have set a new waste recycling target of 75% by 2025.
Reducing emissions is another priority to Coloplast. The latest IPPC report underlined the need for action to fight climate change and limit the global temperature increase to 1.5°C as listed in the Paris Agreement. Our ambition is to become net-zero in scope 1 & 2 and use 100% renewable energy by 2025. In 2020/21, we have been in dialogue with renewable energy suppliers and initiated a project to install solar panels on the roof of our site in the US. Our new site in Costa Rica already uses 100% renewable electricity. This year, we submitted our net-zero scope 1 & 2 target and scope 3 target of 50% emissions reduced per product by 2030 to the Science-Based Targets initiative for validation. These are ambitious targets, and we can only succeed if we work together with our suppliers and partners. I am optimistic and look forward to the challenge.
Ensuring responsible operations
Ensuring responsible operations is key to running a successful company. We strive to improve how we operate, and this is tied to our company values, respect and responsibility. This year, we signed the Confederation of Danish Industry’s Gender Diversity Pledge, committing our global company to increase diversity in our senior leadership, as we believe that diversity leads to different perspectives, more nuanced discussions, and ultimately better results. I encourage you to read on and learn more about our sustainability efforts in 2020/21 – and I hereby confirm our commitment to the ten principles of the UN Global Compact as well as our support to the UN Sustainable Development Goals.
President & CEO