LaserPerformance 2020 Business Strategy

 Statement on
2020 BUSINESS STRATEGY
and a
STATE OF THE ART ECO-CAMPUS IN PORTUGAL

 (You can download this document here.)

In 2016 we moved all European logistics and consolidated all activities in the UK. Then came BREXIT. We also started manufacturing in China, then came the US-China Tariffs. With the benefit of 20/20 perspective and a 20/20 vision for the future, we set out on a new and radical path with a major overhaul of our manufacturing, intending to set the benchmark in manufacturing and responsible practices in the industry.

Inspired by the moral clarity of Greta Thunberg, the visionary leadership of Patagonia, courage in transparency of Everlane, and the principles of a Circular Economy promoted by the Ellen MacArthur Foundation, we are humbled into radical action, defining our future as a brand, as an actor in the world of business, and our place in the world. We hope that like in times past, our efforts and our course for the future would mobilise other participants in our industry.

Our ambition is grounded on a strategy to consolidate our operations in Portugal with facilities in and around Lisbon and Porto, serving the global business. The project involves a cutting-edge approach to design and construction of buildings, innovation in manufacturing processes and inputs, and renewable energy sources.  The initiative is supported by EU 2020 together with new shareholder finance, creating the world’s most modern, sustainable, and inclusive manufacturing facility – becoming the product development incubator for the next generation of our products – including four new boats in 2020 – supporting our partners as the world’s largest dinghy builder.

Why Portugal?

Portugal offers a high quality of life amongst a people who respect the environment, good practice, education, equality, and each other. Our ambitions and objectives for transparency will be best served in an environment where all our stakeholders share and uphold the same values and can deliver to the best of our expectations.

We have come a long way since we first decided to move to Portugal and since then, it has been a journey with lots of positive and unexpected experiences.

Why Setubal?

Setubal is in the suburbs of Lisbon yet stands high on its own with an eco-system of governance, talent, access, and infrastructure that makes it competitive and conducive for a global business. At the same time, it offers high quality housing and activities making it an enhanced microcosm of Portugal’s already high quality of life.

Setubal gives us the privilege to be a neighbour to the Instituto Politecnico de Setubal, a leading institution with whom we have started a collaborative relationship and which we consider to be a valuable partner as we strive to define sustainability and best practices in the industry.

The LaserPerformance campus is in a park like setting of 30 acres (12 hectares) incorporating industrial and warehousing facilities, offices, laboratories, workshops, training facilities, and a small farm. The eco-campus will lodge social space for an indoor gym, childcare facility, events space, sports fields, guest apartments, and a farm-to-table restaurant supplied by the property’s farm. Notably, the campus will be accessible to the local community by arrangement thus making it a unique proposition in the industry for inclusiveness.

LASERPERFORMANCE 2030 - Our Commitment

We are committed to operating a modern and responsible business based on the principles of a CIRCULAR ECONOMY with SUPPLY CHAIN TRANSPARENCY and rooted in SUSTAINABILITY.

What does this mean?

Pioneering new alternative methods and materials, deploying cutting edge technologies, focused on circularity, protecting the environment, and our eco-system with measurement of our impact and transparent reporting.

CIRCULAR ECONOMY

A circular economy is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. It is a new way to design, make, and use things within planetary boundaries.

Our commitment to Carbon Neutrality is focused on a multi-dimensional approach to facilities, use of materials, process innovation, product life-cycle, waste management, and energy.

We commit to identifying the major sources of carbon emissions and measure our footprint, prioritising actions by applying the carbon management hierarchy of “REMOVE ¨ REDUCE ¨ REPLACE ¨ OFFSET” to major emission sources:

  1. REMOVE the source of the emissions where possible

  1. REDUCE emissions by making the business more efficient

  1. REPLACE carbon-intensive energy sources with low-carbon alternatives and switching to renewable energy

  1. OFFSET remaining Scope 1 emissions as Remove-Reduce-Replace strategy is implemented

SUSTAINABILITY

Our commitment is to exceed the EU 2030 Climate and Energy Framework which includes EU-wide targets and policy objectives for this decade. We intend to go beyond setting a partial emissions reduction target by executing on a more expansive and ambitious plan.

Our 2030 targets are as follows:

  1. Carbon Neutrality with ZERO net greenhouse gas emissions     (EU Target: 40% reduction)

  1. 75% share for renewable energy     (EU Target: 32% reduction)

  1. 75% improvement in energy efficiency     (EU Target: 32.5% reduction)

Through improved business practices, capital investment, continued innovation, and environmental stewardship, we are setting a goal of achieving Carbon Neutrality by 2030

FOOTPRINT – We will measure our negative impact

HANDPRINT We will reduce our footprint and measure our progress in increments

How?

  1. Emissions from sources under our Direct Control (Scope 1 Emissions): Reduce use of electricity and fossil fuels by improving operating practices, investing in innovative, energy-saving projects, green building design and construction, sustainable manufacturing practices, and use of biodegradable and recycled materials 

  1. Emissions under our Indirect Control (Scope 2 Emissions): On-site generation or purchase of renewable energy, improving efficiency of logistics of operations, and movement of goods.

  1. Emissions from the Value Chain which are not under our control but which we can influence (Scope 3 Emissions): Work with suppliers and consumers to reduce the impact of upstream and downstream activities.

  1. Becoming Carbon Positive: Taking more carbon out of the atmosphere than we put in. The difference between stopping the mess and cleaning it up - How to remove warming gases from the atmosphere through Offset and In-setting Sequestration programs.

SUPPLY CHAIN TRANSPARENCY and SOCIAL SUSTAINABILITY

The quality of our relationships and engagement is central to our philosophy. We want to have a positive impact for everyone that we depend on and for those who depend on us in return.

Directly or indirectly, we impact the lives of employees, workers in the value chain, customers, and local communities and it is critical to proactively manage our impact, both positive and negative.

Our Business Partners

Finding the best factories and only those who commit to our compliance audit. We believe our customers have a right to know who has been involved in the making of the products they use and how they were made.

We stand for equal rights, equal pay, living wage, ethics in employment, and in lawful practices.

We will ensure best practices from our suppliers and we will create an inclusive environment for our team embracing our local community whose lives we impact daily.

Our Products Are Built to Last

As important, we make and provide top quality product – The longer our products last, the less impact they have, so creating products of superior quality is one of the most ecological things we can do. Extending the life of a boat would reduce carbon, waste, and water footprints.