For the second consecutive year, we are delighted to announce that Colt has achieved an A rating from the Carbon Disclosure Project (CDP) for collaboration with suppliers towards climate change. Focusing on improving supply chains makes a significant environmental impact and this award acts as a pledge for us to do more.
The CDP assesses organisations’ involvement with their suppliers concerning climate change and aims to accelerate global efforts to reduce emissions within the supply chain. It assesses supplier engagement and celebrates successful strategies.
With A representing the highest and D the lowest score, Colt’s A rating positions us within the Leadership category of CDP scoring, showcasing our commitment to implementing top-tier practices regarding supply chain engagement on climate matters.
This award follows our success in achieving another CDP certification for environmental action in early 2024.
How did we achieve it? Our initiatives to establish a sustainable supplier network include:
- Engaging suppliers through a focused sustainability questionnaire, aimed at comprehensively assessing supplier carbon emissions, adherence to science-based targets and strategies for carbon reduction
- Of our Scope 3 emissions, 48.2% are with suppliers that have a Science-Based Target (SBT) set, 6.4% are with suppliers that are SBT ‘committed’, and 1.5% are with suppliers that have signed a Sustainability Schedule with Colt and committed to having an SBT by the end of 2025
- As of December 31, 2023, 89.4% of our suppliers have committed to our Supplier Code of Business Conduct. Additionally, we’ve rigorously evaluated 967 suppliers based on stringent environmental sustainability criteria
- Environmental topics have become integral parts of our discussions with suppliers and feature prominently in quarterly business reviews and contract renewals
- We prioritise vendors who demonstrate a genuine commitment to supporting our Environmental, Social, and Governance (ESG) ambitions, ensuring alignment with our overarching sustainability strategy
The improvements we’ve made reflect the positive changes we’re undergoing as a business to create a more sustainable supply chain. None of this could have been possible without the full collaboration and cooperation of many different teams and stakeholders.
If you’d like to learn more, you can check out our dedicated ESG page or read Colt’s 2022 Sustainability Report.
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