strong progress in sustainability initiatives

Key achievements as published in the Sustainability Report 2023/24 include:

• A 17% reduction (-12,500 tCO2e) in Scope 1+2 emissions against the baseline, aligning with its Science Based Targets initiative (SBTi) and climate transition plan
   
• A 550% increase in on-site solar energy generation, thanks to large-scale investments in solar panels at its manufacturing facilities in Asia
   
• Further development of sustainability declarations and certifications, increasing the total to 322
   
• 164 high-risk suppliers were assessed through the company’s Supplier Sustainability Engagement Program
   
• Commitment to invest nearly CHF 1 million in a child labor remediation project in the Democratic Republic of Congo with Save the Children Switzerland over ten years as part of its human rights due diligence efforts
   
• A 21% drop in the recordable injury rate compared to the previous year

This last achievement highlights that employee safety is a top priority for dormakaba. In 2023, the company introduced a global Health & Safety Directive, resulting in over 77% of sites completing risk assessments and over 65% developing action plans to meet Directive requirements.

“We view our sustainability efforts as investments in meeting current customer needs and future market opportunities,” says Till Reuter, CEO dormakaba. “Many of the initiatives showcased in our latest sustainability report are evidence of our commitment to make the best access solutions that benefit our communities while protecting the planet. We've made progress, and I'm eager to lead further improvements in our industry."

As an example of its sustainable solutions, dormakaba develops tools like the Door Efficiency Calculator (DEC), which helps clients understand the varying long-term benefits and environmental impacts of different entrance systems. The tool provides a detailed analysis of the impact on a building’s airflow, energy usage, and CO2 emissions, as well as the estimated lifetime costs so that they can compare which dormakaba solution is the best fit. In 2023/24, the DEC was introduced in 18 countries, with over 250 sales colleagues trained to support customers.

The company enhanced supply chain transparency by developing a robotic process automation to simplify and speed up communication with thousands of its suppliers related to mandatory sustainability assessments. Since 2019, dormakaba has assessed nearly 32% of its high-risk suppliers. Additionally, dormakaba implemented a Human Rights Risk Management System to classify its locations by risk and prioritize sites for due diligence measures.

The Sustainability Report 2023/24 includes an analysis based on the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, addressing climate risks and opportunities across the company, implementing a scenario-based approach. A binding vote on the report will be held at the Annual General Meeting of Shareholders on 10 October 2024.

For its ongoing sustainability efforts, the company has received several prestigious recognitions, including a gold medal from EcoVadis, being named one of TIME magazine’s World’s Most Sustainable Companies 2024, and being listed as one of Europe’s Climate Leaders by the Financial Times. Additionally, dormakaba maintained its Prime Status from ISS-ESG Corporate Rating and an AA rating from MSCI.

In the upcoming financial year, dormakaba will continue to uphold its sustainability commitments. For more details, see the dormakaba Sustainability Report 2023/24.