ANNOUNCEMENTS
This report delves into the Environmental, Social, and Governance (ESG) practices of Hexagon, a leading Swedish multinational specializing in geospatial and digital reality solutions, and conducts a comparative analysis with its industry competitors. Hexagon's ESG strategy encompasses two primary objectives: enabling sustainability across industries through its solutions and integrating sustainability within its operations and value chain. The company's governance structure, overseen by the Board of Directors and Chief Strategy Officer, underscores its commitment to ESG principles.
Hexagon's environmental focus includes ambitious targets for reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The company has implemented measures such as renewable energy adoption, waste reduction initiatives, and sustainable resource management practices to mitigate its environmental footprint. Furthermore, Hexagon demonstrates a commitment to biodiversity conservation through partnerships with organizations like Cool Earth. In the social realm, Hexagon prioritizes diversity, equity, and inclusion (DEI) through policies and programs aimed at fostering a diverse and inclusive workplace culture. Initiatives include DEI training, employee resource groups, and efforts to increase female representation in leadership positions. Additionally, the company emphasizes employee well-being and safety through engagement surveys, hazard identification programs, and community volunteering initiatives. Hexagon's governance practices encompass risk management, ethical business conduct, and data privacy compliance. The company conducts sustainability supplier audits and incorporates sustainability criteria into its acquisition due diligence process. However, opportunities for improvement exist, particularly in water conservation and community engagement.
The report concludes with recommendations for Hexagon to enhance its ESG performance, including expanding diversity initiatives, strengthening water management practices, and increasing transparency in community engagement efforts. Limitations of the study include reliance on publicly available information and a narrow focus on Hexagon's ESG practices, which may not fully capture stakeholder perspectives.
Keywords: ESG reporting, financial performance, ESG frameworks and regulations, peer benchmarking.
