Driven by the Future: the commitment to making sustainability our core business
The history of sustainability at CAREL has already lasted almost 50 years and was born with the Group in 1973. Over time, technologies, needs and sensitivities have evolved, as have the objectives and the means to achieve them. Today, even more than in the past, the strategy that guides innovation within the Group has environmental sustainability as its main target. This is pursued through two different however converging routes: on the one hand, the maximisation of energy efficiency with increasingly smart and interconnected products and, on the other hand, a significant contribution to the transition towards the use of natural refrigerant gases and fluids with low polluting impact. This is especially important considering that more than one-fifth of the energy consumed worldwide each year is related to the Group's reference applications and that conventional refrigerant gases (HFCs), if leaked into the atmosphere, can produce a greenhouse effect thousands of times more harmful than carbon dioxide.
With the listing in the Italian Stock Exchange in June 2018, a further deepening awareness of the sustainability theme began, and since 2021, CAREL embarked on a multi-year path of concrete actions through its first Sustainability Plan, summarised in the concept “Driven by the Future - Sustainability in action”, reflecting CAREL's idea of the future and its intended contribution to the trajectory of global sustainable development.
In the Plan, the following Areas of Commitment are identified:
- Environmental Policies: reducing consumption and greenhouse gas emissions and encouraging responsible use of energy resources while helping to combat climate change.
- Innovation and Technology: identifying and developing platforms, products, and services to increase energy efficiency and reduce the environmental impact of the industry in which the Group operates, fostering the circular economy. Offering specialised products and services that meet the highest quality standards in order to maximise customer satisfaction.
- People: fostering employee engagement, well-being, personal and professional growth, and ensuring high safety standards all throughout the value chain.
- Communication and sustainable development of local communities: strengthening the Group's reputation and visibility regarding the strategy in terms of ESG and sustainability policies, defining the ESG Corporate identity through the constant involvement of all key stakeholders. Contributing to the creation and dissemination of a culture of sustainability in line with the Group's values. Contributing to the social, cultural and economic development of the community in which the Group operates, creating the conditions for sustainable development.
- Sustainability Strategy and Governance: developing and maintaining a responsible governance system aimed at integrating sustainability with the Company's business plan, establishing fair and transparent relationships with suppliers and business partners, ensuring appropriate and adequate disclosure and governance of non-financial data and information, and managing ESG risks.
All this can be summarised in 3 words: ENVIRONMENT, SOCIAL and GOVERNANCE.
Through the definition of these Areas of Commitment, CAREL also reinforces its willingness to actively contribute to the achievement of some Sustainable Development Goals (SDGs) defined by the United Nations 2030 Agenda.
The plan has been translated concretely into 55 sustainability goals that are in turn broken down into specific targets that will be achieved through the involvement of all 13 company departments and an economic commitment of more than 2.6 million euro.
In order to ensure constant alignment with the evolution of the business strategy pursued by CAREL, the Sustainability Plan was then developed in such a way as to allow for the periodic inclusion of new goals and will be subject to constant monitoring regarding the progressive achievement of the goals.
To find out more, to learn how these actions will be implemented, and to be updated on the progress of the multiple projects, visit esg.carel.com.