Fagerhult Group commits to Science Based Targets initiative
During the Capital Markets Day, Fagerhult Group presented a business update with focus on the Group’s strategic initiatives and the four Business Areas. Fagerhult Group consider mega trends to be in favour for the business and generate good growth opportunities. Climate change and energy crisis increase the need for energy efficient lighting solutions. By using the latest LED technology and connectivity solutions energy consumption can be reduced by up to 90% compared to conventional lighting solutions.
The Group also presented high level ambitions related to the business with further updates at a later date for connectivity and sustainability. The ambitions are in line with the Group’s strong historical development. The growth agenda for the business was supported by specific growth opportunities in each Business Area and the strategic initiatives: Innovation, Sustainability and People & Culture, are all making good progress.
Looking forward, the importance of sustainability will continue to grow. Fagerhult Group’s sustainability agenda, called 'Positive change for better living', was launched earlier this year and covers a broad ESG agenda (Environment, Social, Governance). Providing energy efficient lighting solutions, the Group already contributes to make the society more sustainable. Now Fagerhult Group takes the next step and commit to the SBT-initiative. The Group will set targets to align with the Paris agreement, to limit global warming to 1.5°C and become net-zero. Now follows a process to set near-term and net-zero targets and have these validated by SBTi.
"Committing to the Science Based Targets initiative is a natural next step on our sustainability journey. The climate change demands action and through our long-term commitment we want to lead our industry towards a more sustainable future. By committing to the Science Based Targets initiative we want to make sure we as a Group are transparent in our efforts and make a difference. We have committed both to near-term and net-zero targets and will now continue the process to further map and validate our targets”, says Bodil Sonesson, President and CEO Fagerhult Group.
The material from the Capital Markets Day can be accessed at: https://www.fagerhultgroup.com/investors/
Stockholm, September 6th 2022