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Power & HVAC
Sustainability Strategy
Towards sustainability, the smart way
At Coates, our vision is to be the market leader in safe, smart and sustainable equipment solutions. We will achieve this through our Team25 business strategy which will guide our growth and transformation for the next five years, and beyond. An important part of our vision and strategy is our approach to sustainability.
As a responsible organisation we must proactively respond to the global and industry trends that are impacting us all today, and into the future. We have conducted extensive internal engagement, external research, consultation with customers and benchmarking against industry peers, both locally and globally, to identify the sustainability issues that are most material to our business and stakeholders. This helped us to set clear aspirations and commitments critical to our business such as reducing our carbon footprint, promoting safer and more sustainable ways of doing business, leveraging new technologies, enabling a future workforce and adapting to market disruptions.
I’m delighted to present Coates’ first sustainability plan titled “Towards sustainability, the smart way” which speaks to Coates being on a journey to deliver on our people, planet and profit responsibilities. Our approach to sustainability aims for business growth, customer enhancements, as well as positive society-wide benefits. Our efforts will be underpinned by a transition to renewable energy sources, and a circular model that builds economic, natural, and social capital for all stakeholders through minimising resource use, enhancing performance and designing for reuse and recyclability. Our plan leverages what we already do well and stretches us into new areas of focus to become a more sustainable organisation for our people, customers, communities, shareholders and investors.
Thank you to our teams for their significant contribution to this plan and the enthusiasm to make a positive difference for our people and planet. We are all excited by the journey ahead.
Murray Vitlich
CEO
Coates
Our Group Commitment
‘To achieve net zero greenhouse gas emissions by 2040’
In 2021, Seven Group Holdings (SGH) announced the evolution of its approach to sustainability. The announcement builds on their history of community contributions, an emphasis on re‑use and recycling of capital equipment, and a strong focus on workplace safety.
As part of this commitment, SGH’s two major operating businesses, Coates and Westrac, aim to achieve net zero emissions by 2040. The Group reports on its sustainability efforts under the globally accepted GRI framework and makes climate-related disclosures in line with the TCFD.
The Group’s approach is built on a recognition of the science of climate change and a commitment to the Paris Agreement’s goal of limiting global temperature rise to less than 2 degrees Celsius above pre-industrial levels. As a result, SGH has developed an emissions reduction roadmap for the Group to achieve this target, along with mid-term targets of a 30 percent emissions reduction from 2020 levels by 2026 and 50 percent by 2030.
Our Plan
Coates’ Sustainability Plan recognises that sustainability is a key aspect of our current and future success. Our plan leverages what we already do well and stretches us into new areas of focus to meet customer and stakeholder expectations, enhance our brand and reputation, and support our vision to be the market leader in safe, smart and sustainable equipment solutions.
Our Sustainability Playbook is an introduction to Coates’ first sustainability plan titled “Towards sustainability, the smart way” which speaks to Coates being on a journey to deliver on our people, planet and profit responsibilities. We are excited to embrace our commitments to make a positive difference to our people, customers, shareholders, investors and the communities in which we operate.
Our Sustainability framework includes five key pillars: Our People, Our Communities, Resilience, Greener Choices and Eco-Efficiency. These are underpinned by the Circular Economy concept and the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems.
Our Goals
To have a real impact on the world, we need to not only change the way we think and act, but also inspire others to act as well. At Coates, we have established the foundations of our sustainability practices and processes and will continue to monitor progress and measure our impact to achieve net zero greenhouse gas emissions by 2040. We will continue to identify and implement governance approaches and processes that support our sustainability actions and embed these initiatives throughout our operations to drive operational excellence and efficiency. There are challenges ahead, but by taking meaningful steps forward, together, our goals are achievable.
Our Strategy
The Coates Sustainability Playbook provides an in-depth look at what Sustainability means to us and how we plan to achieve it. It is a comprehensive guide to our Goals, Actions and Outcomes on our journey towards a sustainable future.
2023 Sustainability Report
In FY21, SGH identified 10 environmental, social and governance (ESG) issues where its businesses could have the most impact and/or mattered most to stakeholders. SGH’s FY23 Sustainability Report, embedded at pages 24-51 of its FY23 Annual Report below, outlines substantial progress for SGH and Coates in our approach to sustainability, and is the result of positive impact and the degree of disclosure and transparency provided to stakeholders in terms of our aspirations, actions and outcomes for each material issue during FY23.