Annex
TCFD index
Summary of medmix’ alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and where details can be found within the report:
Section & page |
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Explanation |
Governance |
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Governance, page 36 |
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Governance of climate-related issues, risks and opportunities is rooted at the highest level. The Executive Committee with the Board of Directors has oversight of climate-related issues and monitors progress toward related goals. Sustainability and ESG is represented at the Executive Committee through the ownership of the Chief HR and Sustainability Officer (CHRO). A sustainability team led by the Global Sustainability Lead, reporting directly to the CHRO, coordinates all activities – including risk evaluation and management, strategy definition, target setting, project implementation and target evaluation – in direct collaboration with the respective members of the extended Executive Team heading the various businesses and functions. The Chief Compliance Officer provides regular updates on significant risks and developments to the Audit Committee. One Audit Committee meeting annually is dedicated to presenting the comprehensive results of the Enterprise Risk Management (ERM) process, which are subsequently also presented to the Board of Directors, ensuring strategic alignment and oversight. |
Corporate governance, page 64 |
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Strategy |
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Strategy and business model, page 38 |
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As a company with a long tradition in the world of precision instruments, we strive to have a positive influence by reconciling economic, social and environmental aspects and promoting sustainable practices, as defined by our People, Planet and Profit framework. |
Approach and progress – Materiality assessment, page 42 |
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medmix considers climate change to be a material issue. |
Approach and progress – Climate Scenario Analysis, page 46 |
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Our climate scenario analysis has enhanced the resilience of medmix’ strategy by identifying physical and transition risks and supports future company decision-making across different future scenarios of 1.5°C and 3°C by suggesting mitigation actions that have been reviewed, with the most relevant included in our established activities. |
Strategy and business model, page 38 |
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Our climate-related issues, risks and opportunities are assessed through the Enterprise Risk Management (ERM) process and become an input into our financial planning process. |
Approach and progress – Measures adopted, page 51 |
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Aligned with the medmix sustainability strategy and the identified material issues, our approach includes measures, commitments and activities with an assessment of effectiveness, demonstrating how we act to achieve the Sustainability Development Goals (SDGs). |
Approach and progress – Key activities, page 54 |
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Risk management |
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Approach and progress – Materiality assessment, page 42 |
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During 2024, medmix updated the materiality assessment completed during the previous year to include financial impacts, risks and opportunities data from Enterprise Risk Management (ERM). |
Approach and progress – Description of risks, page 56 |
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Approach and progress – Climate Scenario Analysis, page 46 |
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Our climate scenario analysis has identified key climate-related risks that are important to medmix. These include policy and legal risks, technological risks, market risks, reputational risks and physical risks. |
Approach and progress – Description of risks, page 56 |
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The annual ERM process provides a platform for identifying, categorizing, and prioritizing climate-related risks and opportunities. While mitigation measures are defined during the annual ERM cycle, medmix’ existing management framework supports proactive risk mitigation and adaptation efforts. Measures include: • Physical risks: monitoring the potential impacts of extreme weather events on operational facilities and ensuring resilience through business continuity planning. • Transition risks: evaluating changes in regulatory landscapes and market demands, with a focus on maintaining compliance and adapting product portfolios to emerging sustainability trends. |
Metrics and targets |
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Approach and progress – Measures adopted, page 51 |
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Our measures, metrics and targets are defined across the People, Planet and Profit framework, ensuring clarity and responsibility to achieve our commitments. medmix defines and determines its main performance indicators with reference to the Global Reporting Initiative (GRI) Consolidated Set of Standards 2021, and we review our GHG emissions annually to ensure our activities will enable us to achieve our commitments, mitigating and adapting to climate risk across our operations and supply chain. |
Main performance indicators, page 58 |
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∆ Page numbers apply to document version.
Climate-related transition plan
Summary of medmix’ transition plan, and where details can be found within the report:
Content |
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Explanation |
GHG emission performance |
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• Current performance: in 2024, medmix emitted 15’587 tonnes of CO 2e across Scope 1, 2 and partial 3 (categories 3 and 6), a reduction of 9% compared with the same site footprint as in 2023. When including the three additional sites reporting for the first time in 2024, an increase in absolute emissions was observed (Presentation of key activities, page 54). • Target: medmix is on track to meet the 2025 GHG emissions reduction target 1 of 30% less CO 2e compared with the 2019 baseline. Our science-based approach to net zero is intended to mitigate the emissions from our own operations (Strategy and business model, page 38). |
Impact on businesses, strategy and financial planning from a low-carbon transition |
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• Strategy and business model: our transition plan is integrated into medmix’ overall strategy, emphasizing a science-based approach to reducing greenhouse gases in line with the Paris Agreement’s goal of limiting global warming to 1.5°C above pre-industrial levels (page 38). • Climate scenario analysis: we evaluate our transition plan and targets using various climate-related scenarios to ensure robustness and adaptability (page 46). • Description of risks: through our ERM process, an input into financial planning, we identify and prioritize risks, establishing actions to mitigate these risks and capitalize on opportunities (page 56). |
Measures and activities to support a low-carbon transition, including GHG emissions reduction targets and planned changes to businesses and strategy |
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• Measures adopted: aligned with the medmix sustainability strategy and the identified material issues, our approach includes tracking progress against our plans and targets, including operational and financial performance metrics, as well as industry-specific measures (page 51). • Key activities: in 2024, we undertook key activities across identified material issues to achieve milestones and progress towards our goals, assessing their effectiveness in our transition to a low-carbon future (page 54). |
Governance of transition plan |
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The Global Sustainability Lead oversees the climate-related transition plan, reporting to the Chief HR and Sustainability Officer, who represents sustainability and ESG through ownership within the Executive Team. The relevant items from the transition plan are shared with the Board of Directors during the standing agenda item (Governance, page 36). |
∆ Page numbers apply to document version.
1) Scope 1, 2 and partial 3 emissions (upstream categories 3 and 6).