The ESG (Environmental, Social and Governance) rating is an assessment of a company's performance in terms of environmental sustainability, social impact and governance practices. It provides an indication of a company's ability to manage risks and opportunities in these three key areas.
The Supplier Engagement rating (SER) provides an assessment of how effectively companies engage their suppliers on climate issues and stems from an awareness of the importance of engaging the supply chain to achieve environmental impact reduction targets. Indeed, as the average emissions produced upstream of an organisation are approximately 11.4 times greater than those produced directly, organisations have a much greater potential to reduce global emissions by influencing their supply chains.
In 2022, the Pattern Group achieved an ESG rating of level C and an SER rating of level D, demonstrating its ability to assess with a degree of awareness and comprehensiveness how environmental issues intersect with its business and how its operations affect people and ecosystems, but highlights the need to set targets for all companies acquired by the Group, to develop an emissions reduction strategy, and to strengthen involvement and support towards its supply chain partners, so that they too are able not only to set science-based emissions reduction targets (SBT), but also to implement initiatives in line with these targets.