Environmental, Social and Governance Report 2022

Introduction

Videndum aims to be a sustainable business, minimising our impact on the environment and working to improve the societies in which we operate. Our rigorous governance framework ensures the business's longevity and minimises risks to our operations and supply chains. Our collaborative approach to ESG focuses on the material issues that affect the Group and our stakeholders. The publication of this annual standalone ESG Report reflects our commitment to ESG, measuring our year-on-year performance and long-term aspirations.

Contents

Overview

  • 2 Governance & Strategy

    • 10 Economic & Innovation

      • 23 Environmental

        31 Social 58

        Introduction About us

  • 2 Our purpose, approach and values

    • 11 Our business model

      • 24 Overview

        32 Our approach 59

  • 3 Our ESG strategy

    • 12 Our year in review

      • 25 Environmental targets

        33 Social targets and impact 60

        About this report Executive statements Our sustainability journey

  • 4 Seven key pillars

    • 13 Our strategy

      • 25 Environmental management

        35 Our people 61

  • 5 Shareholder engagement

    • 14 Market opportunities

      • 26 Our Climate Change commitment

        37 Diversity and inclusion 62

  • 9 ESG governance

    • 15 How we create value

      • 27 Videndum's transition plan

        38 Employee benefits 65

  • Risk management Trust and transparency

  • 20 Investing in R&D

    • 28 Carbon balance sheet

      39 Employee wellbeing 67

  • 21 Sourcing and manufacturing Sustainable procurement

  • 29 Reducing our carbon emissions

    40 Employee engagement 69

  • 30 Scope 1 and 2 emissions Scope 3 emissions Energy usage Transportation

    41 Learning and development 70

    42 Health and safety 72

    43 Our customers 74

    46 Supply chain 75

    Taking a life cycle approach

47 Responsible practices 76

Sustainable operations and products 48 Giving back 77

Sustainable packaging 50 Investing in future industry talent 78

Battery disposal 51 Media Solutions: Creativity for Life 79

Waste management 52 Creative Solutions 81

Waste streams 53 Charity and employee volunteering 82

Water stewardship 54

Biodiversity 55

Supply chain 57

About us

Videndum is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.

Videndum's purpose is to enable our customers to capture and share exceptional content. We design and manufacture a portfolio of market-leading, premium brands - from traditional mechanically engineered products through to electronics and software - to enable our customers to capture and share content, whatever the conditions.

We employ around 1,900 people in 11 different countries and are organised in three Divisions: Media Solutions, Production Solutions and Creative Solutions.

Our Divisions

Media Solutions

The Media Solutions Division designs, manufactures and distributes premium branded equipment for photographic and video cameras and smartphones, and provides dedicated solutions to professional and amateur photographers and videographers, independent contentcreators, vloggers/influencers, gamers, enterprises and professional musicians. This includes camera supports and heads, smartphone and vlogging accessories, lighting supports and controls, LED lights, motion control, audio capture and noise reduction equipment, carrying solutions and backgrounds, marketed under the most recognised accessories brands in the industry. Media Solutions represents c.50% of Group revenue.

Production Solutions

The Production Solutions Division designs, manufactures and distributes premium branded and technically advanced products and solutions for broadcasters, film and video production companies, independent content creators and enterprises. Products include video heads, tripods, LED lighting, batteries, prompters and robotic camera systems. It also supplies premium services including equipment rental and technical solutions. Production Solutions represents c.30% of Group revenue.

Creative Solutions

The Creative Solutions Division develops, manufactures and distributes premium branded products and solutions for film and video production companies, independent content creators, gamers, enterprises (e.g. medical and industrial) and broadcasters. Products include wired and wireless video transmission and lens control systems, live streaming solutions, monitors, camera accessories and soſtware applications. Creative Solutions represents c.20% of Group revenue.

Our core customers

Professional photographer/videographer, including prosumer

Creating and sharing digital content for social media platforms or retail e-commerce, where images and videos of new products are frequently published online

Influencer/vlogger or gamer

Creating and sharing video and audio content on social media platforms like TikTok, YouTube, Instagram and Twitch

TV broadcaster, production company, independent content creator and professional sound crew Producing video and audio content for TV programmes, live news or live sports events

Film or production company, including independent film-makers

Making content for feature films and scripted TV shows to share in cinemas or on subscription channels like Netflix, Amazon Prime Video, Apple TV+ and Disney+

Live streaming enterprise, including government, healthcare provider, education establishment or house of worship

Creating video and audio content to stream live or pre-recorded to their employees, customers and communities

About this report

Both mandatory and voluntary ESG disclosures have been considered in the creation of Videndum's ESG strategy:

The Energy Savings Opportunity Scheme ("ESOS") is a mandatory energy audit that Videndum must conduct every four years, to assess the energy used by our UK buildings. The energy efficiency measures suggested in the most recent UK site surveys, inform our carbon reduction milestones discussed within our environmental section on page 38.

The Streamlined Energy and Carbon Reporting ("SECR") requires Videndum to disclose its energy usage, associated emissions, energy efficiency actions and energy performance implemented by the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. The details of this report can be found on page 67 of our 2022 Annual Report.

The Task Force on Climate-Related Financial Disclosures ("TCFD") mandated by the Financial Conduct Authority (FCA) requires UK premium-listed companies to report against the TCFD recommendations on a "comply or explain" basis. Videndum's climate-related financial disclosures can be found in the Group's TCFD Report 2022, and on pages 57 to 66 of the 2022 Annual Report.

The Carbon Disclosure Project ("CDP") is an international voluntary disclosure, focusing on environmental impact management. We will submit our 2022 annual CDP Climate Response in summer 2023.

The Global Reporting Initiative ("GRI") is an international voluntary ESG reporting standards framework enabling organisations to report on their economic, environmental, social and governance performance. This ESG Report outlines Videndum's 2022 ESG progress and has been reported on in accordance with the GRI guidance.

We follow the Greenhouse Gas ("GHG") Protocol Corporate Standards and Guidance for companies to prepare our annual GHG emissions inventory. We have calculated our GHG inventory for Scope 1, 2 and 3 emissions up to 2022. Our GHG inventory is on page 39 of this report.

We intend to align our net zero carbon strategy with the Science-Based Targets Initiative ("SBTi"), demonstrating our commitment to the UK's Nationally Determined Contribution ("NDC") 2020 under the Paris Agreement 2015, to limit global warming to 1.5°C. The NDC commits the UK to reducing economy-wide GHG by at least 68% by 2030, compared to 1990 levels. Videndum's carbon reduction targets are detailed on page 33, and the Group's net zero roadmap is laid out on page 38.

Statement from Stephen Bird, Group Chief Executive

"We are a small company with a global footprint and are committed to working responsibly.

We have a coordinated Group-wide approach to ESG, focusing on the material issues affecting our business and stakeholders. We engage with our stakeholders - including our employees, shareholders, customers, supply chain and rating agencies - to develop, deliver and evolve the Group's ESG strategy according to their needs. Our strategy includes clear objectives and targets, prioritising actions that can deliver the greatest impact. It is also designed to positively contribute to the success of the Company, to reduce the impact of the business on the environment, to continue to prioritise the health and safety of our employees, and to improve the diversity and inclusivity of our workplaces.

Throughout 2022, we strengthened our relationship with our independent, specialist ESG company, Inspired ESG, working to enhance our ESG strategy and to improve our data collection in order to comprehensively, clearly and consistently report our progress and credentials. To reflect Videndum's commitment to ESG, we published this second standalone ESG Report which details our 2022 ESG performance".

Stephen Bird Group Chief Executive

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Disclaimer

Videndum plc published this content on 29 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2023 10:55:09 UTC.