Accsys offers the world a choice to build more sustainably, and we are committed to improving the positive impact we can make in the world, and in Environmental, Social and Governance (ESG) areas.
Sustainability is not just a trend, it is a global imperative. Accsys – our people, our technology, and the products we create – has had this at heart for years. We know that what we offer is a more sustainable option for developing the built environment, that our products are grown from renewable sources, that they sequester carbon and lock it in to a useful, recyclable and non-toxic building material.
We know that our products not only offer competitive advantages compared with other materials, but also open new opportunities and enable creative, innovative design and construction – all while fitting into a sustainable circular economy bio-cycle, reducing embodied carbon costs, and without risking environmental contamination through the leaching of chemicals or microplastic pollution.
That is why we feel a responsibility – an obligation – to fulfil our purpose: “Changing wood to change the world.”
Our approach to sustainability
Our Environmental, Social and Governance (ESG) framework is the foundation of our approach to ESG. This is based on 10 material issues aligned to Accsys’ purpose, and how these issues contribute to the United Nations Sustainable Development Goals (SDGs).
Our contribution to the United Nations Sustainable Development Goals (SDGs)
Our main contributions focus on SDGs 9, 11, 12, 13 and 15, as these areas are where our business can have the most meaningful impacts:
Aside from these targeted areas, the strong sustainability performance of our business and product also align with a broader group of SDGs:
Delivering on our purpose
‘Changing wood’ is what we do, and ‘to change the world’ is why we do it: to have a positive impact on a global scale.
This year, we have further developed our approach, processes and action plans for our material issues, with particular focus on improving measurement, monitoring, reporting and management of performance.
In addition to our Sustainability Report, material issue matrix and ESG framework, we have:
- Expanded data capture and improved management systems and processes to ensure the continued improvement and accuracy of data
- Formalised our approach and good governance of issues with the formation and commencement of the ESG Committee and recruitment of a dedicated ESG Manager
- Increased reporting scope and transparency, including reporting to established global reporting frameworks GRI and SASB
- Integrated additional ESG factors into employees’ Objectives and Key Results and Executive Remuneration
- Commenced review of climate risk and opportunities in alignment with the Task Force on Climate-related Financial Disclosure (TCFD)
Climate risk
Accsys frequently considers ESG topics, including right up to the highest level of the Company, where the Board of Directors will discuss ESG topics from time to time. Currently Accsys is conducting a climate scenario analysis to identify our climate-related risks and opportunities which has board-level oversight and involves a large range of employers/ stakeholders. We will be considering these risks and opportunities under different plausible climate scenarios (including a 2 ℃ or lower (1.5 ℃) scenario to expose transition risks and opportunities and a 4 ℃ scenario to expose physical risks). This is in line with the Task Force on Climate-related Financial Disclosures (TCFD) and the Corporate Sustainability Reporting Directive (CSRD) requirements.
Climate-related risks included in the climate scenario analysis are:
- Current regulation
- Emerging regulation
- Technology risk
- Legal risk
- Market risk
- Reputational risk
- Acute physical risk
- Chronic physical risk
These risks will be covered within each stage of the value chain (our own operations, upstream activities and downstream activities) and will include short-term, medium-term, and long-term risks.
Looking ahead
A selection of our focus areas for FY24 include:
- Building on robust governance processes
- Continuing to build on performance reporting and monitoring systems with improved data capture and management
- Continuing to assess and meet current and upcoming standards and best practices
- Building on our role in the built environment through growth in provision of our sustainable and quality products to the market, supported by the best sustainability standards and accreditations
- In our FY23 Annual Report we describe our approach, key highlights, metrics, and next steps for each of our key material issues, as seen in our ESG Framework
- More information and detail is also available in our Annual Report, in our SASB and GRI Content Index, and queries can be directed to [email protected].
Our Corporate Vision
We want to ensure that our business is not only a commercial success, but also run in a responsible fashion as we continue to advance technologies for a better world.
The approach we are taking is to ensure that ESG and sustainability are not simply ‘additional’ factors or considerations, but meaningful and integrated with our business.
We continue to have a strong focus on responsible sourcing and product sustainability: 100% of our products are made from FSC® certified sustainable wood from well-managed forests and 100% of our key materials suppliers are screened against social and environmental criteria.
Our annual increases in sales volumes means that more sequestered CO2 than ever before is safely stored in our products, for decades ahead.
