ESG performance
ENVIRONMENT
Smiths has had environmental improvement targets since FY2007. Since FY2007 we have reduced water use and waste by more than 30% on an absolute basis and we have increased the use of renewable electricity in our operations to 63% of total electricity use.Performance in current three-year goal period
| FY2022-2024 target | Progress FY2022 | |
|---|---|---|
| Use of renewable electricity1,2 | +5% increase to 66% | +2% increase to 63% |
| Normalised greenhouse gas emissions3,4 | 5% reduction | 7.2% reduction |
| Normalised non-recyclable waste2 | 5% reduction | 11.5% reduction |
| Normalised water use in stressed areas (11 locations)2,3 | 5% reduction | 4.5% reduction |
| Water reduction projects | 10 in FY2022 | 12 projects |
| Packaging reduction projects | 8 in FY2022 | 5 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 1.1%.
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
Safety
- Our Group Recordable Incident Rate was 0.54 in FY2022, continuing to track below the industry average and in the top quartile of industry performance.
- We consistently receive a high score for safety ‘Safety is a top priority here’ in our My Say survey, generally scoring the highest of all categories in the survey.
Engagement
- Our overall global engagement score remained stable for May 2022 and November 2021.
Gender Diversity
- We have five women on the Smiths Board (45%).
- We welcomed three new female members to our Executive Committee in FY2022 (31% women).
- At the end of FY2022 24% of senior leadership positions were taken by women. Our target is to reach 27% by the end of FY2023 and 30% by the end of FY2024.
Communities
- Our direct economic contribution (employee costs + supplier costs + tax) was £2.33bn in FY2022.
Ethical and Legal Compliance
- We consistently receive a high score for ethics ‘People I work with behave ethically’ in our My Say survey.