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Corporate governance and social responsibility lies at the very core of our business.

from Accsys Annual Report 2019

Governance

In 2018 Accsys conducted a corporate governance review in preparation for the changes to governance requirements for AIM companies (AIM Rule 26).

As a result of such review the Company adopted the QCA Code and shall follow and report against the QCA Code on a comply-or-explain basis. At Accsys, we hold a strong belief that we have a collective social responsibility to use and develop our technology to tackle climate change and pollution, and such belief, together with health and safety, remains a fundamental priority of our business.

Our innovative acetylation technology enables us to sustainably manufacture wood products that make a material difference to the environment as well as offer ‘best in class’ durability, dimensional stability and a wide spectrum of other advantages over alternative fossil fuel dependent or man-made products.

This values-led vision also provides an attractive opportunity for our employees, distributors, licensees and other stakeholders. 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.

Since our values are based on ‘changing wood to change the world’, the Board believes that leadership and governance play a key part in achieving its strategic aims, and providing long term benefit and success for the business and our shareholders.

As such, corporate governance and social responsibility lies at the very core of our business and it is the Board’s job to ensure that corporate governance and social responsibility remains a key focus.

Environment & Sustainability

A strong belief that we have a collective social responsibility to use and develop our technology to tackle climate change and prevent pollution lies at the very core of our business.

Our Corporate Vision

Accoya wood Moses Bridge Netherlands

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.

Accsys has already developed and is commercially producing Accoya® solid acetylated wood. We have developed the process for the production of Tricoya® acetylated wood elements, used for the production of panel products.

Accoya® is Cradle to Cradle Certified™ Gold. As part of that certification, our supply chain, production processes and procedures have been examined and scored on categories including: Material Health (Platinum), Material Reutilisation (Gold), Renewable Energy & Carbon Management (Gold), Water Stewardship (Gold) and Social Fairness (Gold).

Accsys aims to reduce the use of environmentally unfriendly building materials and products through our propriety technology and the introduction and uptake of our products around the world.

The planet continues to consume endangered materials like tropical hardwood and non-renewable, high emitting building materials such as plastics, concrete and metals at an alarming rate.

Our acetylated wood products offer alternative, sustainable new materials that resolve many of the environmental limitations that commonly used building materials have, whilst not compromising on performance.

In fact, Accoya® is the only building product perfectly fitting in the bio-cycle of the circular economy while having the same performance as typical techno-cycle building products such as plastics and metals which cannot be renewed and have a high carbon footprint.

Accsys is also committed to continuing R&D concerning our products (applications and new wood species) and processes. This ongoing development is designed to increase the use and improve the environmental and efficiency benefits of our products.

This will ensure we continue to respond to the growing global ambition of consumers to live sustainably, reduce the growth of plastic pollution and tackle climate change and in turn will benefit many of our stakeholders.

Our products and the environment

The main environmental benefit of our Accoya® and Tricoya® acetylated wood products is their use as a substitute for other environmentally damaging products including chemically treated woods that use toxic preservatives, unsustainably sourced tropical timbers and materials produced from energy intensive or nonrenewable resources such as metals (for example, steel and aluminium) and plastics (such as PVC).

Carbon footprint

During their growth, trees convert carbon dioxide (CO2) through photosynthesis into cellulose and lignin and emit oxygen in the process. As a result, during their lifespan trees act as carbon sinks, as CO2 is captured from the atmosphere and makes up approximately half of the dry weight stored in the wood of the tree.

The carbon is stored in the living tree, but will also remain stored once the tree is felled and the wood of the tree is used for products such as Accoya® and Tricoya®. As a consequence, CO2 is locked out of the natural carbon cycle during the lifespan of the wood or wood product.

Through decay or incineration, the carbon will eventually be released again into the atmosphere in the form of CO2. In producing Accoya® wood, we improve this carbon capture mechanism in two ways.

Firstly by using fast growing softwood species, such as radiata pine, as input for our acetylation process. Per hectare, more cubic metres of radiata pine can be grown (10 m3 /ha/ year) compared to other wood species. Consequently, a larger amount of carbon is sequestered compared to slow growing wood species in the same time period.

Secondly, through the acetylation process the dimensional stability and durability of a wood species are improved considerably, lengthening the product lifespan. Thus Accoya® wood (durability class 1 according to EN standard 350) is able to act as a carbon sink for longer and requiring less additional care than other woods.

These unique properties allow us to provide a warranty on Accoya® wood for 50 years above ground and 25 years below ground (please see our Certificates of Warranty for full details), usefully trapping carbon for decades while new trees are grown.