Environmental protection and ecological management
As a manufacturing company, NORMA Group is well aware of its environmental, economic and social responsibility. Environmentally compatible and sustainable economic activity is therefore a main element of the Group strategy. For this reason, the company considers it important to systematically include environmental aspects in its business decisions. For this reason, NORMA Group has implemented a Group-wide environmental management system and certifies its production sites in accordance with ISO 14001.
The company’s goal is to increase the efficiency of its production processes and continuously lower its energy consumption. In order to further reduce CO2 emissions, some sites at NORMA, such as NORMA Changzhou, China, installed solar panels in fiscal year 2022. More sites will have solar panels installed in fiscal year 2023. At the same time, NORMA began purchasing renewable energy in the form of Energy Attribute Certificates (EACs) for electricity for all its manufacturing plants in January 2022. All these certificates fulfill the demands of the GHG PROTOCOL. In addition, waste is to be reduced wherever possible. Furthermore, water sub-meters have been installed to monitor the water consumption and water leakage as well as water recycling. Projects aimed at reusing and saving water have already been implemented. The resulting long-term cost savings associated with this contribute to the economic efficiency of the Group.
NORMA Group quantifies its targets for the reduction of greenhouse gases, water consumption and waste generation at its production sites and publishes them in its CR Roadmap. Moreover, NORMA Group includes the environmental impact resulting from the supply chain as well as from the use of its products in its environmental strategy. Progress towards climate, water and waste targets is reviewed at the local level through regular management assessments and at the global level through the reporting of aggregated data to the Management Board.
Climate-relevant CO2 emissions (Scope 1 and 2; method: market-based) are considered an important non-financial performance indicator in the area of the environment.
Within NORMA Group, these could be massively reduced to 4,879 tons of CO2 equivalents (2021: 43,449 tons) in the fiscal year 2022 through the use of renewable electricity. NORMA Group's target of reducing CO2 emissions from its production processes by around 19.5% by 2024 compared to the reference year 2017 was thus significantly exceeded in 2022. CLIMATE PROTECTION
Detailed information on the environmental strategy can be found in the CR REPORT.
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.