The seventh edition of the report is divided into three main areas: environment, people and community, and products, offering a comprehensive overview of the Group’s commitments and results.
In 2023, the company celebrated its 60th anniversary. It has been a year of transformation for Coster, marked by the implementation of a renewed governance that modifies the Group’s Purpose and Vision and the definition of an ambitious Sustainability Roadmap 2023-2030. The company has strengthened its effort to transparency as well, maintaining after 7 years important recognitions from CDP, EcoVadis and Ellen McArthur Foundation and validating its emission targets according SBTi criteria and in line with the 1.5°C trajectory. Coster's investments in energy efficiency and the purchase of renewable energies have led to significant progress in environmental protection, as mentioned in the report. In fact, the company has managed to reduce total energy consumption by 2% and keep the share of electricity from renewable sources to 84%. In addition, Scope 1 and Scope 2 market-based emissions have decreased by 36% compared to 2021.
During 2023 Coster started the project "Zero Waste to Landfill" that will lead to obtain this certification for the whole company before the end of 2026. All the actions taken regarding waste management have seen significant results as well: a 4% reduction of the total waste compared to the previous year and a 78% cut in waste sent to landfill. The Group’s continuous dedication to product innovation is expressed through the development of sustainable and high value-added solutions. In 2023, many new products developments were launched including sustainable solutions.
Coster confirms its responsibility towards its employees by investing in trainings and workplace safety. In 2023, 33% more training hours were provided compared to the previous year and no high-consequences work-related injuries have been registered. Also, a 36% reduction in recordable accidents are further evidence of the company's dedication. Moreover, a three-year program (2023-2025) was launched that will enable all sites to be audited according to SMETA IV pillars’ standards.
After two years of “Joining Forces with Suppliers”, Coster boasts of the evolution of its suppliers' sustainability, which has also been verified by very successful on-site quality and sustainability audits.
The company has implemented a community development policy that aims to respect the territory, create job opportunities, support the local economy and promote the well-being of its employees and surrounding communities. Social initiatives include CosterCares and Coster Academy among others, undertaken by the Group to collaborate with local associations for solidarity, social and charity projects. “2023 was a year of great challenges and equally great opportunities. We have worked with determination to reduce our environmental impact, invest in our employees and develop innovative solutions that meet the needs of the market and society. Our commitment to sustainability is constant and the results achieved are the stages of a journey that see us at the forefront in building a better future,” states Andrea Raineri, Coster Head of Innovation & Sustainability. The full report is available for the download on Coster’s website: https://www.coster.com/sustainability/
