Electrocomponents unveils global 2030 ESG action plan

Electrocomponents’ ESG action plan is integrated within the company’s ‘Destination 2025’ strategy, supporting its vision to be first choice for stakeholders, creating profitable growth and reflecting its ambition to lead the global industrial sector as a truly responsible, sustainable, and inclusive business. The plan is comprised of four ambitious global goals:

Advancing sustainability: Developing sustainable operations and product and service solutions to reduce environmental impacts and tackle climate change. The Group has committed to reach net zero greenhouse gas emissions across its global operations by 2030 and across the wider value chain by 2050. It has set science-based targets for Scope 1,2 and 3 and has committed to the Science Based Target initiative (SBTi).

Championing education and innovation: Building skills and fostering innovative solutions with 1.5 million young engineers and innovators. This includes engaging the company’s DesignSpark community to support the development of sustainable solutions that improve lives.

Empowering our people: Enabling their people to reach their full potential and thrive in a safe, inclusive, and dynamic culture. This includes working towards 40% of the company’s leaders being women and 25% being ethnically diverse.

Doing business responsibly: Ensuring the highest ethical and environmental standards throughout the business and global value chain by introducing ESG objectives to be embedded in employee rewards, supplier objectives and a new sustainability-linked loan.

Lindsley Ruth, chief executive officer at Electrocomponents, commented: “Electrocomponents has been on a journey to establish and strengthen our ESG approach for a sustainable future. Today, we are proud to take the next steps and launch our 2030 ESG action plan: For a better world. This is an integral part of our Destination 2025 strategy and beyond, and we see the opportunity to leverage our global scale, product and service solutions and differentiated offer to grow stronger, advance sustainability and improve lives. We believe that having a strong ESG action plan is critical for us to become a truly great company.”