Sustainability work for long-term growth
Our view of responsible business
Over the years, Nolato has established a long-term strategy for sustainable development. The strategy encompasses activities within social responsibility, business ethics/financial responsibility and the environment. We can demonstrate progress within these areas, but the challenge of improving products’ environmental attributes requires cooperation with raw material suppliers and customers. One important aspect of the strategy is to develop resource-efficient production methods and products with a low carbon footprint. This is what we mean by responsible business:
- A proactive approach – We will be the experts regarding the impact of our business on people, the environment and society. We reduce risk and cost through preventive measures, risk analysis and investments in modern technology.
- New business opportunities – Through resource-efficient production and greater use of environmentally sustainable raw materials, we generate business opportunities and environmental benefits.
- Responsibility and transparency – Nolato complies with international conventions and principles for sustainable development, including via being a Signatory to the Global Compact. The long-term targets set out the road map for our sustainability work and we openly report on both our progress and setbacks encountered, according to international standards for sustainability reporting.
Clear link to business model
Being a high-tech developer of polymer products is key for Nolato. The customer approaches us with a concept or an initial outline of a product, which they plan to launch on their markets. By working alongside the customer at an early stage, we can contribute towards the development of a functional, cost-effective and environmentally sustainable product. Success factors include experience, in-depth knowledge of the materials and processes, involvement early on in the project, expert project management and a sound knowledge of customers and markets.
Our strategy for sustainable development is a natural element of our mission and business model. By creating safe and stimulating workplaces, minimising environmental impact and generating lasting value for our shareholders and stakeholders, Nolato is benefitting both business and society.
Nolato is an important operator in the polymer industry, and we can make a difference by presenting sustainable solutions that relate to choice of raw materials, product design, production technologies and transport. Greater use of bio-based and recycled polymers reduces our carbon footprint from a life cycle perspective. Product design for sustainable development can help make the products easier to recycle and/or extend their lifespan. We are prepared to decline assignments that are incompatible with our environmental ambitions.
Guidelines and standards
The Nolato Spirit booklet summarises the Group’s core values, Code of Conduct and policies and explains how they relate to the business model. The guidelines in The Nolato Spirit apply equally to all Nolato employees, regardless of where in the world they work.
Since 2010 Nolato has been a Signatory to the UN Global Compact, a framework document that comprises ten principles on the environment, human rights, labour and anti-corruption. These ten principles are integrated into The Nolato Spirit, and our long-term targets are linked to the UN Sustainable Development Goals.
Nolato’s sustainability work is reported in accordance with the Swedish Act on Sustainability Reporting by Large Companies, GRI guidelines, CDP, the Nasdaq Listing Center and the UN Global Compact (Communication on Progress – COP).
Production facilities are certified to the international standards ISO 14001 (environment), ISO 9001 (quality management) and, where applicable, to industry-specific ISO standards. We also work with health and safety and energy management standards. The ISO 26000 social responsibility standard provides guidance for our overarching sustainable development efforts.
- Nolato’s sustainable development strategy includes the following areas:
We aim to create business opportunities through responsible conduct and transparent communication. Opportunities are also created through resource-efficient production methods and the development of products with a low environmental footprint. In short, we aim to be customers’ first choice for sustainable development.
We reduce risk and cost through preventive measures, risk analysis and investments in modern technology. Issues regarding energy and carbon emissions are particularly prioritised and are subject to long-term targets. Regarding the use of materials, we aim to increase the percentage of recycled plastic raw material and the use of bioplastics.
- Using ISO standards and concepts such as lean manufacturing, Medical Excellence and 5S, we create a systematic approach to and credibility for our sustainability work.
We involve our employees through a safe, gender-equal and stimulating work environment. Sustainability work should be something that encourages new employees to apply to the company.
- Nolato should be a good corporate citizen and apply sound business principles and good ethics. Preventing corruption is an important aspect of this work and something we have undertaken in accordance with the principles of the UN Global Compact.
- Sustainability issues are part of Nolato’s business model and strategy.
Governance and monitoring
Sustainability issues are managed in a methodical way and they are integrated into both strategic planning and our day-to-day operations. We have established long-term Group targets and follow-up indicators in key areas. Operational responsibility for sustainable development is delegated to the Managing Director of each Group company. These activities are followed up through dialogue with the companies’ management and through internal and external audits. Along with the Sustainability Report, we also carry out an in-depth analysis of compliance with legislation, target outcomes and the development of performance and KPIs during the year. One representative on Nolato’s Board has special responsibility for sustainability issues. Matters relating to strategy, risks, monitoring, sustainability reporting, sustainability issues associated with acquisitions and dialogues with investors are managed at Group level.