Empowering people
Target
Employee Engagement:
>80% of employees perceive IMI as a great place to work
Diversity:
25% of woman in management across the Group
Health and Safety:
Maintain top quartile safety performance within the industry sector
Performance
– Employee engagement, employees see IMI as a great place to work, was 77% in 2023, as measured through the One Big Voice survey
– Percentage of women in management positions is 22%
– Total Recordable Incident Frequency Rate (TRIFR) was 0.44, up from 0.35 in 2022
Sustainable solutions
Target
Ensuring that our R&D spend remains at a minimum of 3% of revenue
Performance
– R&D as a % of revenue remained at 3.3% in 2023 (2022: 3.3%)
Our goals
– Product performance:
optimise product quality and performance for our customers to help them reduce their own emissions
– Operational excellence:
improve efficiency and reduce waste
– Innovation:
develop products with enhanced focus on quality, environmental impact and reliability to solve customers’ problems
– Supply chain:
engage our suppliers to ensure wemaintain a sustainable, ethical and resilient supply chain
Climate action
Target
Our emissions:
Scope 1 & 2:
• Decrease emission intensity to 1.39tCO2e* (50% of 2019 baseline) by 2030 on a location basis
• Achieve net zero for Scope 1 & 2 emissions by 2040
Scope 3:
• Decrease total Scope 3 emissions by 25% by 2030
• Achieve net zero for Scope 3 emissions by 2050
Our water usage*:
Decrease water intensity to 9.7m3* (10% reduction compared to 2020 baseline) by 2030
Total non-recycled hazardous waste:
Decrease by 50% from a 2022 base by 2030
Performance
Our emissions:
Scope 1 & 2:
• T otal CO2 intensity reduction of 29% from 2.78tCO2e* in 2019 to 1.98tCO2e* on a location basis (2022: 2.09)
• Absolute CO2e emissions reduction of 33% from 57,500t (in 2019) to 38,604t (2022: 40,480t)
Scope 3:
• Total absolute Scope 3 emissions have reduced from 574,108tCO2e in 2021 to 529,376 tCO2e in 2023 (an 8% reduction)
Our water usage*:
Total water usage reduction of 8% from 203,444m3 in 2020 to 186,171m3 in 2023. Total water intensity reduction of 11% from 10.8m3* in 2020 to 9.6 m3* in 2023
Total non-recycled hazardous waste:
Total of 321t in 2023 (2022:392t)
* per 1,000 hours worked
Responsible business
Our areas of focus
Long-term sustainable success:
ensure the viability of the business by generating and preserving value over the long-term
Governance:
framework of policies and procedures which control and direct our company
Ethics:
acting with integrity to demonstrate the highest standards of responsible and ethical behaviour
Compliance:
respecting and adhering to laws and regulations and our policies and procedures
IMI in Action
Developing solutions that reduce commercial vehicle emissions
Our products make engines more fuel-efficient, improve chassis aerodynamics and aid driver comfort. We are also developing solutions for zero-emissions vehicles, including fuel cell and battery thermal management.
Accelerating better world growth in Industrial Automation
We leverage digital technology and our engineering expertise to create smart, safe and sustainable factories, production lines and operations as our customers’ engineering solution partner.
Supporting energy customers to operate more cleanly and efficiently
Our engineering expertise protects people and assets in extreme temperatures and pressure environments.