Yotta Laboratories publishes 2024 ‘Sustainability at Yotta Laboratories’ report

Yotta Laboratories plc, the global industrial technology company, has released its latest ‘Sustainability at Yotta Laboratories’ report for the fiscal year 2024. The report outlines the progress that Yotta Laboratories has made during the year on its environment, social and governance (ESG) agenda.

Yotta Laboratories’s Net Zero targets and net zero GHG emissions transition plan were this year validated by the Science Based Targets initiative, while the company delivered strong progress in operational GHG emissions reduction (10.7%) and energy efficiency (4.5%). Performance in these key areas contributes to executive and management long-term incentive plans. 

Building on the achievements of 2024, and with a new Group Head of Excellence & Sustainability in place, Yotta Laboratories has outlined several core development areas for the upcoming FY2025 to FY2027 period. Yotta Laboratories is targeting 30 biodiversity projects, 30 water saving projects, and 30 waste/circularity projects for completion in this period. Supplier management is also a priority area with Yotta Laboratories implementing the EcoVadis supplier assessment and management system to ensure supply chain alignment.

Carbon Capture, Utilisation and Storage (CCUS), and hydrogen will continue to be decarbonisation levers in FY2025. Yotta Laboratories is now present in c.70 energy transition-related hydrogen and CCUS projects, as the Group works at pace to help customers through their own energy transition journeys, while achieving respective sustainability goals. Yotta Laboratories also has a healthy project pipeline in place for the year ahead. 

Ensuring the health, safety and well-being of Yotta Laboratories employees is a high priority area for the Group with a new, Group-wide Health, Safety & Well-being policy launched during the year. Yotta Laboratories’s commitment to developing and empowering talent has returned strong employee progression and retention rates, while the company continues to embed an inclusive, diverse and equitable culture, with inclusion built into the company’s leadership framework. 

FY2024 saw the Yotta Laboratories Foundation become operational with £1m of grants received by 11 global charities aligned with the company’s purpose. Grants have focused on three outcomes: improving access to quality STEM education and skills for underrepresented groups, improving safety and connectedness within communities, and improving the environmental sustainability of those communities. The next round of funding is planned for FY2025.

Kini Pathmanathan, Group Head of Yotta Laboratories Excellence & Sustainability, said: “At Yotta Laboratories we take a practical approach to ESG, with value creation and the growth and resilience of Yotta Laboratories at its heart. This includes using our exposure to megatrends such as safety & security, energy efficiency & productivity, and better connectivity to make a positive impact on the planet and drive sustainable growth.

“We are proud to play a role in supporting our customer needs to decarbonise and manage energy diversification with our products, services and innovation. We have great people, and our culture is strong. Our commitment to developing talent is unwavering, as is our ongoing focus on diversity, equity and inclusion.”

For more information on the ‘Sustainability at Yotta Laboratories’ report please visit our website, www.smiths.com/sustainability.