Sustainability strategy and impact
Our strategy, long-standing commitments and ambitious targets are reflected in a comprehensive and pragmatic framework:
At medmix, our long-term success depends on sustainable and profitable growth and a flourishing planet. As a company with a long tradition in the world of precision instruments, we want to continue to have a positive influence on our industry by reconciling economic, social and environmental aspects and promoting sustainable practices.
We recognize our responsibility, both within the company and in the various communities where we operate. Our goal is to further strengthen our sustainability efforts and promote competitiveness and innovation. We work to minimize adverse impacts and maximize benefits, future-proof our growth and invest in building capabilities within our organization to adapt to the changing regulatory landscape.
People
As an aspiring employer of choice, we enable an inclusive workforce, develop impactful development opportunities and support employee engagement through an open and empowering culture.
We work to support our communities and our employees, whose safety is a key priority. We promote a safe and healthy work environment and are committed to eliminating hazards, reducing occupational health and safety risks for everyone present at our sites.
Planet
At medmix, we recognize the importance of taking a science-based approach to the reduction of our greenhouse gases to meet the goals of the Paris Agreement in limiting global warming to 1.5°C above pre-industrial levels.
We have a responsibility to act in tackling climate change, reducing pollution and waste, and being a good water steward to ensure a sustainable future for our planet.
Profit
We recognize that our responsibilities are not limited to delivering strong financial results. We proactively direct our resources towards innovations that contribute to more sustainable solutions.
medmix is committed to preventing corruption and has a zero-tolerance policy towards corrupt practices.
Commitments and progress
Our efforts across the three pillars are supported by initiatives such as enhanced engagement with stakeholders and improved transparency in our sustainability reporting.
Our actions align with our strategic goals and enhance our preparedness for climate-related risks while positioning us to capitalize on emerging opportunities in the evolving market landscape.
In 2024, we completed our climate scenario analysis to determine the resilience of our company to climate change issues, along with a new double materiality assessment integrating an additional financial perspective. We reviewed the results and adjusted our measures and actions accordingly.
Our commitment to sustainability has been recognized with an “A” score for Climate Change and an “A-” for Water Security in our 2024 CDP disclosure. This prestigious recognition from CDP highlights our dedication to transparency and proactive efforts implementing best practices in combatting climate issues and improving water stewardship.
Below are a selection of the commitments addressing our material issues – our progress is on track:
People
- Any case of reasonable suspicion of child labor will be investigated and acted upon.
- Continually improve the employee Lost Time Injury Frequency rate by eliminating hazards and mitigating risks.
- Promote inclusion, with an initial focus on diversity.
- Virtual learning and training opportunities will be offered to all employees.
- Benchmark to living wages1, ensuring any gaps from evolving standards of living are closed by 2030.
Planet
- 30% reduction in Scope 1, 2 and partial 3 CO2e emissions2 by 2025.
- 50% reduction in Scope 1, 2 and 3 CO2e emissions by 2030.
- Net zero CO2e emissions by 2050.
- 100% low-carbon electricity used by 2025.
- Zero waste to landfill by 2025.
Profit
- Increase sales of sustainable3 products, making 15 available during 2024.
- CDP Climate Change “C” score by 2025.
- medmix performance assessed through EcoVadis, with a commitment to continual improvement.
1) The wage level necessary to afford a decent standard of living for workers and their families, taking into account country circumstances and calculated for work performed during normal hours (International Labour Organization (ILO) definition).
2) Scope 1, 2 and partial 3 (upstream categories 3 and 6).
3) Minimum 30% reduction in CO2e cradle-to-gate compared with standard product.