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Welcome to our investor centre. Here you can find out more about Focusrite, as well as our results, strategy, key resources and more.
This year, the convergence of climate change and an El Niño event have highlighted the pressing environmental challenges we all face.
Our first year of mandatory CFD/TCFD compliance is against this backdrop of increasing extreme weather events due to climate change, which is why we have chosen to focus on the increase in storm intensity for our first quantitative assessment. In addition to this, we have achieved another significant milestone this year, having designed a bespoke product lifecycle assessment database that we are using to calculate our emissions for the first time. This essential resource shows the detail of our environmental hotspots so we can prioritise reducing our environmental footprint as we work towards setting a Net Zero target over the next few years.
Being a UK-based company, we are committed to achieving Net Zero status by 2050 at the latest, in line with the UK Climate Change Act. This is our target too, and we are establishing how quickly we can achieve this ahead of schedule.
Our aim is therefore not to set an arbitrary Net Zero target year until we have gone through the Science Based Targets application process in 2025 at the latest, and instead setting carbon reduction metrics and targets to plan for long-term success.
Our complete Scope 1, 2 and 3 Carbon Dioxide Equivalent footprint is summarised here. All units are gross tCO2e unless stated otherwise. For Scopes 1 and 2, we have maintained Carbon Neutral status for a second year as a result of switching to renewable energy and purchasing verified carbon offsets to account for residual emissions.
* Indicates the FY22 value has been recalculated using the same methodology as FY23.
Note: Categories 08: Upstream Leased Assets tCO2e, 13: Downstream Leased Assets tCO2e, 14: Franchises tCO2e and 15: Investments tCO2e do not apply to the Focusrite Group.
Our emissions this year remain dominated by our hardware products, accounting for 96% of our Net GHG Emissions. The change in methodology from last year, being a combination of procurement, financial and activity-based calculations, now all replaced with LCAs, has resulted in a significant reduction in our total emissions compared with what we reported, but is largely flat compared with FY22 when using the same methodology. Our total Scope 3 emissions to date have not been significantly impacted by changes we have been making to our hardware products, but we expect this to start filtering through as more products use recycled materials in mass production. In future years, we will start to see the effects of increased renewable energy in grids around the world, resulting in steady reductions in the ‘Use of Sold Products’ category, and will also provide more detail on the ‘Purchased Goods & Services’ category, showing how we are planning to transition to a low-carbon world.
An extended look at our Environmental Work and the UK’s Climate-related Financial Disclosures Framework
ESG is critically important to our business and our future, and is embedded into our business strategy.