HOW WE CREATE VALUE
Climate change is the biggest challenge of our time. Therefore, we aim to achieve carbon neutrality by 2050. To achieve this, we would need to become more efficient in our production and energy usage, increase our use of renewable energies and focus on circular economy which pays special attention to our product development. We intend to help our customers achieve their sustainability goals by improving the efficient use of resources and reducing our products’ carbon footprint.
COFICAB also aims at decreasing landfill waste by complying with the market’s constant demand for Waste Management (treating, recovery, and recycling). Our goal is to increase our employee awareness, and ensure the correct recycling of certain wastes, such as non-conforming cables.
Our company also seeks to use greener and recycled raw materials to manufacture its products which would close material loops (“close the loop”) or increase resource efficiency or material life (“extend the loop”).
To expand an alternative raw material supply base and, at the same time, contribute to circular economy, COFICAB is constantly in contact with its raw material suppliers, looking for alternatives based on recyclable materials.
Neutrality by 2050
In line with the increasingly ambitious sustainability targets, COFICAB is aligning its activity with the “Paris agreement” aiming for climate neutrality by 2050. COFICAB’s short term target is 50% reduction in CO2 footprint by 2030 vs 2020 (Scope 1 and Scope2).
We work continuously to further reduce emissions from our production, moving to state-of-the-art technology and requesting sustainability modules in all applicable new equipment (high-speed productions with less energy consumption, higher productivity, lower scrap rates);
We have set ourselves ambitious actions to this end:
INTERNAL PROCESSES
Rainwater use: Capture rainwater to be reused in gardening and other places where it is possible,
Promote the use of electric vehicles among our employees and visitors supplying “Free of Charge” at our premises,
Replacement of the internal combustion fleet by electrical equipment (forklift equipment and company vehicles),
Implement digital solutions to determine product-specific greenhouse gas emissions.
SUPPLY CHAIN MANAGEMENT
Continuously promote localization of the main suppliers decreasing upstream transport,
Adopt a regional production approach, providing the same product portfolio in all regions avoiding oversees shipment,
Work with suppliers on recycling content development projects, through integrating a percentage of recycled raw materials assuring customer requirements (ex: 20% on copper),
Ensure that the required sustainability criteria are met through contractual relationships, selecting those who generate less CO, emissions from their operations and products,