Hempel's "Futureproof" at the Heart of its Plan to Double its Revenues
Hempel A/S has launched its new sustainability framework dubbed Futureproof, an initiative that lies at the heart of the companies strategy to double its revenue by 2025 while dramatically cutting its carbon footprint and that of its clients across industrial sectors.
“We believe that placing sustainability at the heart of how we do business is essential for our ambition to double the company. Our customers expect more sustainable solutions and today's and tomorrow's employees want to work for companies that have a clear and progressive position on sustainability. And of course, it's the right thing to do,” said COO and Executive Vice President Katarina Lindström. “Our ambition to double by 2025 makes our commitment to sustainability even more important. We want to break the link between growth and our environmental footprint. Meaning, we will double in size but our environmental footprint will not.”
Ambition turns into action
A key focus area of the new action is climate, an area where Hempel is taking some crucial steps. The company will be carbon neutral in its own operations by 2025 and has made a commitment to set science-based targets in their value chain in accordance with the 1.5°C pathway. Only 300 companies worldwide have committed to this.
“It's a game changer for us. It will have a big impact on how we operate our business: how we run our factories, how we select our suppliers, how we produce our products,” Lindström said. Emission reduction is also an essential part of Hempel’s value proposition to customers. The goal is to reduce customer CO2 emissions with at least 30 million tons by 2025. “We already have solutions that enable fuel savings and keep buildings cooler. In the future, we want to have even more products and services that give customers tangible and measurable sustainability benefits,“ said Lindström. The plan is to make sustainability a key driver for Hempel’s product development and innovation, e.g. by establishing technology research programs and harnessing Hempel’s new innovation incubator, GrowHub.
A call for partnerships
Many of the greatest sustainability challenges, such as climate change, require breakthrough innovation and challenging traditional practices. “We welcome partnerships with both customers and suppliers and are also looking for opportunities to strengthen our sustainability innovation muscle through joint ventures and M&As,” Lindström said. “We are embarking on a journey. Wiring sustainability into our business does not happen overnight. We will have to run both fast and far and we are committed to making it happen,” she said.