ENVIRONMENTSmiths has had environmental improvement targets since FY2007. Since FY2007 normalised Scope 1 & 2 greenhouse gas emissions have fallen by 75% and normalised non-recycled waste has fallen by 67%. In FY2023 we improved energy efficiency by 8% year-on-year.
Performance in current three-year goal period
|FY2022-2024 target||Progress FY2023|
|Use of renewable electricity1,2||+5% increase to 66%||+9% to 70%|
|Normalised greenhouse gas emissions1,2,3,4||5% reduction||31% reduction|
|Normalised non-recyclable waste2||5% reduction||20% reduction|
|Normalised water use in stressed areas (11 locations)2,3||5% reduction||17% reduction|
|Water reduction projects||30 projects||22 projects|
|Packaging reduction projects||24 projects||11 projects|
1 Non-GHG producing electric sources including hydroelectric and nuclear.
2 Sites reporting utility data under Smiths HSE Reporting Policy, with 20 or more employees
3 Normalised to revenue. Absolute GHG emissions down 12%.
4 We have built a more aggressive GHG reduction target trajectory to meet our Science-Based Targets and an energy efficiency target into our colleague and executive incentive plans.
RESPECTING NATURAL RESOURCES
- Our Group Recordable Incident Rate was 0.41 in FY2023, down 26% year-on year and continuing to track below the industry average.
- We consistently receive a high score for safety in our My Say employee survey.
- In FY2023 84% of Smiths colleagues participated in our global My Say employee survey.
- Our global engagement score edged higher year-on-year to 73.
- We have four women on the Smiths Board (40%)
- We have three women on our Executive Committee (25%)
- 25% of our senior leadership positions are held by women. Our target is to increase this to 30% by the end of FY2024.
- Our direct economic contribution (employee costs + supplier costs + tax) was £2.8bn in FY2023.
- We also launched the Smiths Group Foundation with a committed initial grant fund of £10m.
- We consistently receive a high score for ethics in our My Say survey.