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- Trifast plc Sustainability Report 2022
Trifast plc Sustainability Report 2022
Trifast plc Sustainability Report 2022
Trifast plc's Sustainability Report 2022 outlines the company's mission to foster a safe and equitable environment, enhancing employee potential and establishing Trifast as a leader in industrial fastenings. The report underscores commitments to sustainable growth, stakeholder returns, and operational efficiencies.
The strategy emphasizes investment in organic growth, engineering-led innovation, and accelerated acquisitions. Trifast aims to deliver reliable and sustainable solutions that benefit society and the environment.
Trifast operates globally with 34 locations, leveraging engineering expertise, high-quality manufacturing, and global logistics to provide reliable products and services.
In FY2022, Trifast reduced CO2 emissions by 4.95% per £1k turnover and complied with 40 out of 41 UK Corporate Governance Code provisions. The happiness index score was 7.5/10.
Growth opportunities are identified in sectors like automotive, energy, tech, and health, with significant potential in electric vehicles, renewable energy, and health innovations.
The report aligns with the Task Force on Climate-related Financial Disclosures (TCFD) and outlines Trifast's approach to managing environmental, social, and governance issues.
Trifast is committed to technological and sustainability changes, supporting customer innovation, and contributing to a sustainable future.
Trifast supports multinational customers in sectors like light vehicles, energy, tech, health, and general industrial, focusing on ESG compliance and rapid technology deployment.
The strategy focuses on green growth, circular economy, addressing climate change, supply chain transparency, and promoting equality, diversity, and inclusion.
Trifast commits to creating socio-economic value, acting on climate change, building a sustainable supply chain, and enabling sustainable innovation.
A governance structure led by the CEO implements the sustainability strategy, involving various committees and working groups.
Sustainability is integrated into business planning to enhance risk management and identify opportunities, focusing on reducing environmental impacts and fostering innovation.
Trifast has established governance processes with an effective Board and six committees, including a Sustainability Committee.
Sustainability practices are governed by a Corporate Code of Conduct and various policies, audited through the Group HR audit process.
Trifast engages with stakeholders like employees, investors, and regulators, valuing input for long-term growth and ethical standards.
Key decisions include strategic growth investments, acquisitions, and responses to Covid-19, with a focus on employee wellbeing and compliance with international sanctions.
Robust data protection policies are in place, with no reported data loss incidents.
Conflicts of interest are managed through established processes, and a global Whistleblowing Hotline is available for anonymous reporting.
Trifast adapts to the EV market by focusing on sustainable materials and electrostatic finishes, exemplified by a new battery housing project.
Trifast emphasizes a people-centered approach, with improved reporting and employee engagement through a global HR system.
Regular surveys and the 'Employee Voice' program ensure ongoing feedback, with a focus on talent management and personalized training.
Efforts are made to foster a diverse workforce, with a focus on eliminating discrimination and creating equal opportunities.
Plans include implementing a 'League of Intrapreneurs' and publishing a socio-economic value report by 2026.
Trifast is committed to reducing carbon emissions, waste, and water pollution, with a focus on setting science-based net zero targets.
A sustainable supply chain strategy is planned by 2025, focusing on high environmental and social standards.
Suppliers are audited to ensure high standards in environmental management and social practices, with a focus on compliance.
Trifast adheres to human rights standards and complies with the UK Modern Slavery Act 2015, ensuring safe working conditions and fair wages.
Efforts are made to ensure products do not contain metals from conflict regions, with supplier documentation verification.
New sites incorporate sustainable features like solar panels and electric vehicle charging units.
Trifast focuses on transitioning to a closed-loop model, with projects like a 'cradle to cradle' feasibility study.
Design principles aim to reduce environmental impacts and support a circular economy, with a focus on sustainable materials.
Techniques like cold forming minimize waste, with extensive reuse of lubricants and recycling of metal waste.
Collaboration with customers and suppliers focuses on reducing waste and optimizing material use.
Fasteners are designed for recyclability, supporting closed-loop design principles.
Trifast supplies to clean-tech sectors, including renewable energy and zero-carbon transport.
Efforts are made to reduce single-use plastics and maximize recycled content in packaging.
Lean manufacturing methodologies are implemented to reduce waste and optimize productivity.
Research on CO2e impacts at the product level aims to reduce the carbon footprint of applications.
The report includes disclosures from the Global Reporting Initiative (GRI) Standards, detailing governance, stakeholder engagement, and environmental assessments.
Workers are covered by an occupational health and safety management system, with attention to work-related injuries.
Programs are provided for upgrading employee skills, with regular performance reviews.
The report covers diversity in governance bodies and employees, with a focus on salary ratios.
No incidents of discrimination or corrective actions are reported.
Operations and suppliers where these rights may be at risk are identified.
Operations and suppliers at risk for child and forced labor are highlighted.
Employee training on human rights policies is reported.
New suppliers are screened using social criteria, with actions taken against negative social impacts.
No complaints concerning breaches of customer privacy or data loss are reported.
The report contains forward-looking statements that involve risks and uncertainties.
Contact details are provided for comments or questions, with plans for external assurance in the next report.
Catalog excerpts
Innovation today for a better tomorrow Trifast plc Sustainability Report 2022
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Welcome to the Trifast Sustainability Report Our purpose To provide Trusted Reliability at every turn to our customers, suppliers and our people, empowering them to deliver sustainable products and solutions that add value to society and our planet To promote an environment that is safe and fair, which motivates, develops, and maximises the contribution and potential of all employees • Investing for organic growth • Project Atlas • Engineering-led innovation • Accelerated acquisition journey Our vision To enable innovation today for a better tomorrow To be acknowledged commercially as a market...
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Contents Business introduction Driving growth through our business model Operating in attractive markets Strategy introduction 02. reate socio-economic C value Reporting scope and boundaries Sustainable governance Case study: EV light vehicles Case study: LifeWorks Our five‑year sustainability strategy framework (2022-2026) This Sustainability Report provides an account of the management approach and performance trends of the material environmental, social and governance issues for Trifast plc The reporting period used for the performance data is the financial year ending 31 March 2022 This report...
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Business introduction CEO introduction Driving growth through our business model Operating in attractive markets Trifast plc Sustainability Report 2022
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Our strategy sets out the blueprint for an exciting future Ratings and achievements These indicators have now been expanded to include a more detailed overview of our sustainability performance, supporting the ongoing commitment to our sustainability strategy. In addition, we have also included a second level of KPIs which we believe will support functional reporting of sustainability data. I am pleased that our work to explore and assess climate‑related risks and opportunities has gone well and for the first time this year our Annual Report includes disclosures in line with the Task Force on...
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CEO introduction continued Opportunities in a changing world As part of our Sustainability Report last November, I highlighted our step change in ambition and our focus on a sustainable strategy. Our strategy sets out the blueprint for an exciting future for the business in its ambition to deliver sustainable products that add value to society, and to become a much bigger company. The world is changing fast – not only as a result of the Covid-19 pandemic but through global technological advances, legislative changes, the way we work, shop, interact and collaborate with all our friends, family,...
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Where we operate Additional facts global locations manufacturing sites ead office Trifast plc H Charlotte Houston Kentucky South Carolina Manufacturing & distribution sites Trifast plc & Group Services Uckfield Belfast Birmingham East Grinstead East Kilbride Lancaster Manchester Newton Aycliffe Poole Trifast plc Sustainability Report 2022 Distribution sites Germany – Verl Holland – Oldenzaal Hungary – Szigetszentmiklos Ireland – Mallow Italy – Fossato di Vico Norway – Skytta Poland – Warsaw Spain – Barcelona Sweden – Nacka, Tidaholm & Gothenburg Technical & innovation centres TR Asia headquarters...
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Driving growth through our business model Trifast is a leading international specialist in the design, engineering, manufacture and distribution of high-quality industrial fastenings and Category ‘C’ components principally to major global assembly industries Our competitive strengths A leading global brand TR is a recognised and established global brand across a wide range of manufacturing sectors Technical know-how & design-led engineering capabilities Our engineering teams get involved from the start of the enquiry and design process, collaborating with our global OEM/Tier 1 customers to make...
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Our distinctive mix of engineering expertise, high‑quality manufacturing and adaptable, reliable global logistics supports delivery of our purpose Creating value Assemblies cannot function without fastenings. Our custom-engineered components support the freedom and versatility of design necessary to allow our customers to create world-class products In addition, we provide invaluable input when engaged early in the design phase. Our engineers’ design expertise helps solve customer application problems within an assembly, providing cost efficiencies as well as enhancing performance Our global...
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Operating in attractive markets Fast-paced markets driven by environmental and technological change create new opportunities across sectors, products and geographies c.£60bn Market worth What sets Trifast apart Trifast is one of only a handful of global fastenings suppliers, setting us apart from the many national and regional players that operate in our market. This puts us in a prime position to support our multinational and global customers as they continue to look to rationalise their supplier base Light vehicle Passenger vehicles, SUVs, niche builds, leisure and off‑road – 2 & 4-wheelers...
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Health & Home Medical, health and domestic appliance industry Our personal wellbeing has finally reached the top of the list for many governments, institutions and employers alike. While wellbeing is a deliberately broad term, from psychological to physiological and all that is in between, the change to society has brought into sharp focus the tools needed to promote better personal outcomes. Our health & home market sector captures many of those tools that are of a physical construct – from rowing machines and electric bikes, to washing machines, coffee makers and hair dryers – they have all...
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Strategy introduction Our strategy: Securing a sustainable future The strategy landscape Our five‑year sustainability strategy framework (2022-2026) 13 Trifast plc Sustainability Report 20
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