GlobalData offers a comprehensive analysis of Rapala VMC, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Rapala VMC‘s ESG performance. GlobalData’s company profile on Rapala VMC offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Fishing tackle and outdoor equipment manufacturer, Rapala VMC is taking steps towards reducing its carbon footprint, including investing in solar panels for its factories and a machine to neutralize VOC emissions. The most significant emissions for the Group are the volatile organic compounds (VOC) and carbon dioxide (CO2). The Group’s VOC emissions are calculated based on materials used in production, and CO2 is calculated based on energy purchased and fuel used. In 2022, Group’s VOC emissions were 96 tons and CO2 emissions 5 thousand tons. VOC emissions originate mainly from different types of solvent used in conjunction with painting operations. Rapala VMC's latest filings mentioned the keywords 'Emissions' and 'Circular Economy' most number of times in relation to 'Climate Change'.
The company has also shifted to renewable energy in its manufacturing sites and invested in waste management systems to reduce VOC emissions. In addition, Rapala VMC has introduced more ecological packaging that utilizes recycled plastic and more cardboard instead of plastic. The company aims to reduce its greenhouse gas emissions by exploring and utilizing possibilities of circular economy in raw materials and manufacturing processes.
Rapala VMC's carbon and greenhouse gas emissions have decreased due to the closure of its Batam lure manufacturing unit in Indonesia and the shift to renewable energy in its manufacturing sites. To reduce the environmental impacts of transportation, the Group aims to maximize sea transportation and minimize air transportation between the continents, from the factories to distribution units. The Group also aims to consolidate the shipments so that small quantities will not be shipped separately.
Rapala VMC aims to reduce its greenhouse gas emissions by exploring and utilizing possibilities of circular economy in raw materials and manufacturing processes. The company values environmental factors alongside financial perspectives in its operations but does not represent any of the sectors or activities with the highest potential to reach the EU-level goals for climate change mitigation as currently specified in the taxonomy. In 2022, the Group’s manufacturing operations generated 635 tons of waste of which 148 tons were hazardous waste, which is processed by disposal facilities dedicated for hazardous waste. In 2022, the Group’s total energy consumption was 64 TJ (66 TJ). Majority of this is electricity.
In conclusion, Rapala VMC has taken steps towards reducing its carbon footprint by investing in solar panels, shifting to renewable energy, and introducing more ecological packaging. As of now, none of the Group’s business activities fall within the sectors specified by the EU taxonomy as having a key role in achieving the climate-related and environmental objectives of EU.