Mips® safety system creator reports reduced carbon emissions, circular product offering, DEI initiatives (Diversity, Equity, and Inclusion), and more
STOCKHOLM, SWEDEN; March 22, 2024 - Mips, a global leader in helmet-based safety, just unveiled its 2023 Sustainability Report. Detailing the organization’s continued dedication to implementing sustainable practices across its products (environment), employees, supply chain, and products (helmet safety), the report reveals that Mips has reduced emissions (Co2e) per solution by an average of 20.8% compared to 2022.
Mips is increasingly committed to more sustainable practices throughout each facet of the organization to limit environmental impact, applying those values in its value chain, and prioritizing social and workplace responsibility for employees. It continues to participate in the UN Global Compact, whose guiding principles are incorporated into Mips’ Code of Conduct and daily operations, and supports the Science Based Target initiative (SBTi) limiting global warming to 1.5°C. Mips also adheres to the UN’s Sustainable Development Goals, focusing and aligning on the specific goals where the company can maximize its impact, in addition to the Global Reporting Initiative (GRI) to understand and communicate its environmental impact.
Mips puts a great level of dedication into its sustainability efforts. The company’s analysis of sustainable practices includes everything from its products’ raw materials, manufacturing suppliers, wellbeing of employees, gender equality, social responsibility, and more.
Some highlights from the report, and how Mips achieved these results include:
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Reduced emissions (Co2e) by an average of 20.8% per unit sold compared to 2022; Made possible by analysis of climate impact through the GHG (Greenhouse Gas) Protocol, clear data on emissions from raw materials used and manufacturing suppliers, and the use of post-industrial recycled plastic in certain of Mips’ solutions as described below.
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Offered suppliers 100% post-industrial recycled plastic for, among others, Mips’ most sold solution, an important step in providing a circular product offering, which includes CO₂-neutral manufacturing and the use of recycled and recyclable materials.
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Performed three third-party audits of its three most strategic suppliers to ensure a thorough evaluation of their compliance with Mips’ Code of Conduct and the ten principles of the UN Global Compact.
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Achieved and surpassed a breakdown of 46/54 percent distribution of women to men in the workplace, including its Chinese subsidiary, as Mips actively works to reverse the trend of a male-dominated helmet industry.
During the previous year, Mips had worked closely with various stakeholders to rank 23 areas of sustainability to prioritize, in what has been summarized as a materiality analysis to ensure Mips’ sustainability efforts are moving the needle. Both Mips and its stakeholders believe raw material is the area where Mips can have the greatest impact, and research has been done into its raw material usage, emissions, bio-based plastics, and a circular product offering.
Please find the complete report on the link here.
About Mips
Mips specializes in helmet-based safety and is a world-leader in this area. Based on an ingredient brand business-model, Mips' safety system is sold to the global helmet industry. The technology is based on over 25 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden. Mips’ headquarter with 82 employees engaged in research and development, sales, marketing and administration is in Stockholm, where its product and technology test facility also is located. The Mips share is listed on Nasdaq Stockholm.
Currently, Mips has partnered with over 150 helmet manufacturers. Since its inception, the Mips® safety system has been included in more than 1,000 helmet models worldwide.
Further information: www.mipsprotection.com
