Metrics
- More than 4000 employees
- More than 60 manufacturing sites
- Benchmarking against 33 organisations
- Survey translated into 17 languages
- More than 500 survey responses
Background
Vibrantz Technologies, formed after the merger of Chromaflo Technologies, Ferro and Prince, is a speciality chemicals and materials company with more than 60 global manufacturing sites and more than 4000 employees.
Vibrantz sought Nature Positive’s assistance to determine material sustainability topics and to develop an integrated sustainability strategy across its global operations and value chain, thus supporting its vision of becoming an enduring and sustainable world-class company. Using our extensive experience in developing sustainability strategies for international businesses and implementing stakeholder engagement programmes to drive results, we created a bespoke and collaborative approach to deliver the assessment.
Our team’s in-depth double materiality assessment reviewed how Vibrantz’s operations affected people and the planet and how sustainability issues can impact the financial wellbeing of the organisation. Our assessment underpins Vibrantz’s sustainability road map and priority areas for action on environmental and social issues and its initial environmental, social and governance (ESG) commitments and targets.
Challenges
Vibrantz’s vast global footprint in countries with distinct and sometimes conflicting regulatory laws necessitated a highly structured and formulaic action plan. We had to collate enormous volumes of technical data and understand how to explore sustainability topics and issues accessibly.
Solutions
To identify Vibrantz’s material topics and to develop its sustainability strategy, we
- carried out a horizon scan and competitor analysis, providing global context to guide what a leading strategy could look like
- completed a series of subject matter expert interviews with Vibrantz’s key value chain stakeholders and workshops with senior leadership to understand material ESG impacts, risks and opportunities
- developed and delivered an employee engagement survey to get feedback on ESG issues that should be prioritised and to gather information on progress to date and ideas for improvements and training
- undertook baseline environmental assessments, including a scope 1 and 2 carbon emissions footprint, biodiversity risk assessment and water risk analysis to understand Vibrantz’s environmental impacts, risks and opportunities
- developed a list of priority ESG issues, a sustainability road map and a vision, which were presented to the board and CEO
- prepared a sustainability commitment statement and an agreed set of near-term sustainability KPIs and targets
- provided secondment support for ad hoc analysis and reviewed the company’s sustainability strategy and implementation programme.
Impact
Vibrantz has a prioritised list of material sustainability topics, KPIs, targets and a sustainability road map. It has improved its internal governance on ESG, and the leadership team has confidence that it is prioritising resources and attention on the areas that will create the greatest value for the business while ensuring it is reducing negative impacts and associated risks.
Following the successful development of Vibrantz’s first sustainability strategy, we continue to support the organisation and provide technical ESG expertise, including co-designing and writing the company’s first annual corporate social responsibility report, which was published in April 2024 and is aligned with International Sustainability Standards Board, Sustainability Accounting Standards Board and Global Reporting Initiative standards.