As we fast approach the dreaded average world temperature increase of 1.5 degrees C, how can Lindengruppen, Colart and yes, even you as an individual, help support the agreement that was made in 2015 in Paris?
With a focus on Sustainability, Dennis reflects on global issues around climate change and how Colart will make a change through its soon-to-be implemented value creation model.
Gareth, our Corporate Communications Manager, facilitates a panel discussion, with Chief Sustainability Officer, Richard Llewellyn and Global Sustainability Manager, Ajita Chamberlin. We get to hear what Colart has achieved to date, especially around the reduction of single use plastic. Watch the video and listen to Richard and Ajita as they debate sustainability of our products through its longevity ; what Colart's future focus is and how this all fits into COP27 currently being hosted by Egypt.
Dennis's Moments of Inspiration
This time, Dennis talks about the magazine, The Economist and the front page by-line "Say Goodbye to 1.5C".
Dennis reflects on the 2015 Paris Agreement, where countries came together and agreed that the 1.5 degrees C increase in global temperature would not happen. And yet, we are today faced with the reality that it will.
The three takeaways Dennis took from this article are:
1. Climate change will fundamentally change our economic model, and we can compare this to the significant historical change during the industrial revolution. This aligns with the Value Creation Model being implemented across all Lindengruppen businesses. This is where we measure Social, Environment and Economic Value and then quantify it in monetary terms.
2. We don’t spend enough money to stop global warming, especially in developing countries.
3. A harsh reality or wake-up call – we must prepare that 1.5 degrees C will happen. So, society must prepare for floods, storms, fires and drought.
Business Update Highlights
- P9 – September – we made a profit for the first time this year.
- Retailers are giving us feedback that we are not losing market share and are “holding up” in terms of “sales out” data compared to 2019
- P10 is looking “okay-ish”, but retailers are still de-stocking, and as a result, our top line is coming down
- We have minimised the losses due to all cost-savings we put in place earlier this year. However, we still need to save more money and reduce our cost base further to become “a healthy, profitable, sustainable business that can pay down its debt”.
- We have a plan for 2023 that delivers a 4% EBIT or roughly £130M in Sales.
- Saving initiatives are still needed ahead of 2023. These initiatives will be presented to the Board in a meeting at the end of this month.
