Infineum has strong supply chains in place, based on long-term partnerships and supported by a robust integrated management system to ensure that business relationships with third parties are aligned with all applicable laws and
the highest standards for business ethics, health, safety and environmental protection, from the supply of raw materials
to transportation and distribution services.
Our suppliers are a central part of our sustainability strategy. We aim to collaborate with our off-site processors, custom manufacturers and suppliers to drive sustainability improvements. We evaluate our suppliers using the independent EcoVadis rating on a broad range of topics, including environmental management systems, human rights and sustainable procurement practices.
This is helping us to understand risks and opportunities in our supply chain, find opportunities for collaboration, and ensure that our supplier base understands our business and sustainability strategy. The share of 2023 supplier spend that was covered by sustainability assessments has risen to 62%, up from 58% for 2022, and our aim is to reach 80% of relevant spend by 2025.
We have integrated sustainability criteria into key procurement processes and continue to engage key suppliers to drive improvements. Product carbon footprint data is requested as part of our tendering process and we have collected data for over 50% of raw material suppliers by volume. We are working with our suppliers to improve the quality and coverage of data through regular steering team meetings and business performance reviews.
We are working with suppliers to improve our understanding of upstream environmental impacts, strengthen our product life cycle assessments and gain more visibility over our scope 3 carbon footprint.
This will act as a basis to drive further collaborations to reduce negative environmental impacts in our supply chain, develop
more sustainable products, optimise our production processes,
and possibly even to establish new business models. For example,
we are exploring options to substitute some of the raw materials we use for lower-carbon and circular materials such as re-refined
base oils.
Efficient transportation and logistics
Our Transportation Management System is designed to
streamline the shipping of our products and components, providing visibility into day-to-day transportation operations, compliance and documentation, and ensuring timely delivery
of freight and goods. It also allows us to gather data to monitor and improve the carbon footprint associated with our global supply chain operations. As a result, we have increased focus
on different supply models including payload optimisations
and switching to more sustainable forms of transportation to reduce carbon emissions.
Infineum supports the protection of and respects universal human rights, including but not limited to those of our colleagues, the communities in which we operate, and the parties with whom we do business, and condemns human rights abuses of any kind.
We believe that human trafficking, modern slavery, and all other humanitarian crimes should not be tolerated in any part of our business or supply chain. In this regard, we endeavour to ensure that our company and supply chain adhere to the highest ethical standards, and that our contractors are treated fairly.
Our Code of Conduct sets out our position on human rights and modern slavery through our Statement on Human Rights and Modern Slavery, to which Infineum colleagues and suppliers are expected to adhere at all times.
Our expectations for suppliers to adopt and maintain a similar approach to human rights and modern slavery is clearly communicated via our Supplier Code of Conduct and online Supplier Portal, as well as through annual written reminders
and contractual obligations.
