Anthony Locicero, Associate editor02.24.21
Hempel A/S launched its new sustainability framework, Futureproof.
The launch of Futureproof follows the recent announcement that Hempel aspires to double its revenue by 2025.
“We firmly believe that placing sustainability at the heart of how we do business is essential for our ambition to double the company. Our customers expect more sustainable solutions and today's and tomorrow's employees want to work for companies that have a clear and progressive position on sustainability. And of course, it's the right thing to do," Chief Operating Officer and Executive Vice President Katarina Lindström said. "Our ambition to double by 2025 makes our commitment to sustainability even more important. We want to break the link between growth and our environmental footprint. Meaning, we will double in size but our environmental footprint will not.”
Futureproof is Hempel’s framework for delivering on their strategic goal of sustainability leadership.
“Our purpose is to shape a brighter future with sustainable coating solutions. That’s what drives us every day. Futureproof is about turning ambition into action and staying one step ahead,” Lindström said.
A key focus area is climate.
The company will be carbon neutral in its operations by 2025 and committed to set science-based targets in its value chain in accordance with the 1.5°C pathway. Only 300 companies worldwide have committed to this.
“It's a game-changer for us. It will have a big impact on how we operate our business: how we run our factories, how we select our suppliers, how we produce our products,” Lindström said.
Emission reduction is also an essential part of Hempel’s value proposition to customers.
The goal is to reduce customer CO2 emissions by at least 30 million tons by 2025.
“We already have solutions that enable fuel savings and keep buildings cooler. In the future, we want to have even more products and services that give customers tangible and measurable sustainability benefits," Lindström said.
The plan is to make sustainability a key driver for Hempel’s product development and innovation, e.g. by establishing technology research programs and harnessing Hempel’s new innovation incubator, GrowHub.
The sustainability ambitions also cover social aspects, such as inclusion and diversity.
“At Hempel, we want our employees to feel they are respected and treated fairly and that everybody brings their whole self to work," said Pernille Fritz Vilhelmsen, executive VP and Chief People and Culture officer. "Diverse teams create better ideas, and companies that succeed in bringing diverse teams together have higher earnings. Inclusion and diversity is the key to how we innovate and evolve as a company."
Many of the greatest sustainability challenges, such as climate change, require breakthrough innovation and challenging traditional practices.
“We welcome partnerships with both customers and suppliers and are also looking for opportunities to strengthen our sustainability innovation muscle through joint ventures and M&A,” said Lindström. “We are embarking on a journey. Wiring sustainability into our business does not happen overnight. We will have to run both fast and far and we are committed to making it happen."
