Midas Safety, the safety solutions company, has today published its first sustainability report for the year 2021, which documents its progress towards better management of its economic, environmental and social impacts and commitment to “Making Safety Sustainable”.
With 2020 as the baseline year, the report has been produced in accordance with the Global Reporting Initiative (GRI) sustainability reporting core standards. It provides stakeholders a complete overview of Midas Safety’s operations in Pakistan, Sri Lanka and Bangladesh from 1 January to 31 December 2021 and sets out targets for 2023. The targets are based around seven pillars: People, Climate, Water, Energy, Waste, Product and Packaging, which have been identified through guidance from our stakeholders.
The targets have been established by investing in rigorous assessments detailing the impact of current business activities, as well as a customer survey. The first targets set out Midas Safety’s commitments are to its people, which includes improvement in gender diversity by 40% and highlights a strong focus on the health and safety of its workers as well as nurturing their talents.
Midas Safety has set a target to reduce its carbon footprint by 20% by reducing greenhouse gas emissions, as well as reducing freshwater intake by 20%, through the 5R Approach setting up effluent treatment and recycling plants.
The installation of solar power plants, which will deliver up to 7 megawatts of electricity has also begun. Midas Safety also recognises the threat that waste can bring to the environment and the impact it can have on greenhouse gas emissions and has set a target to reduce waste by 40% using innovative technologies and converting waste to reusable products.
In response to customers’, and Midas Safety’s own, growing concerns about the effect of manufacturing on the environment the report also sets out a commitment to produce high-quality products, increasing the use of recyclable material by 20% with minimal environmental and social impact, whilst maximising the economic returns for stakeholders and to have plastic free packaging by 2023.
Hussain Kassam, CEO at Midas Safety, commented: “I would like to thank everyone for their tremendous work in supporting our first sustainability report. To us, corporate governance is about demonstrating accountability, responsibility and transparency, which shapes our approach to fulfil all our stakeholders’ different needs. Midas Safety is built upon authentic leadership, a customer-centric approach, innovation, excellence and empowerment – to deliver sustainability.”
“We are committed to minimizing the impact of our business operations on the planet, from the energy we consume to the resources and materials we use in our manufacturing processes. Our sustainability teams are taking significant steps to reduce the carbon footprint, water and energy intensities, reduce waste and convert the waste into useable products.”
For further information, please find the report here.