SUSTAINABLE PROCUREMENT

Colt is on a green journey, working hard to ensure that we are making sustainability a priority during any decision-making. We're looking at how those around us embed sustainability too.

The way we procure goods and services is of critical importance. As our customers expect Colt to be an increasingly environmentally aware, we have to consider the entire life cycle of what we purchase. Selecting the right suppliers and partners has a significant positive impact on our carbon footprint and emissions as a company.

COLLABORATION ACROSS THE VALUE CHAIN

At Colt Group, we want to work with who can support our ESG journey. Our supplier code of conduct and our Sustainable Procurement Policy set out the standards of sustainability and corporate governance that we expect them to adhere to.

We consider sustainability criteria in the selection, management and evaluation of our suppliers and we use our Vendor Risk Management System (VRM) and RFP scoring to measure ESG supplier performance. All new suppliers with an estimated speed greater than €50k are subject to the full VRM standard as a condition for approval. Existing suppliers are assesed when their contracts are due for renewal.

The VRM covers a wide range of ESG issues including environment, health and safety, anti-bribery and corruption, data protection, cybersecurity, human rights and modern slavery protection. We also assess suppliers' approach to Diversity, Equity and Inclusion and we are keen to improve this part of our work with our value chain. We also have a target to use more SMEs and local suppliers.

73%

of our suppliers have been engaged in ESG topics (70% in 2022)

4600+

suppliers from 55 countries in 2023 (Colt Group)

89%

of our suppliers have signed our Supplier Code of Business Conduct