SUSTAINABILTY
Staycold International has, since its inception, endeavored to implement and execute responsible and sustainable business practices.
During 2023 a Kudosone sustainability “health” self-assessment was undertaken in line with the Sustainability Development Goals, the UN Global Compact, the IFC Performance Standards and the UN Guiding Principles for Human Rights. Staycold was acknowledged by Kudosone as having met the criteria for ESG awareness. However, in response to the global climate change challenge Staycold has in the past months significantly increased its efforts to address its impact on the environment. This has gone hand in hand with a review of its social impact and good governance practices.
To enable accurate and reliable future sustainability reporting Staycold has adopted a structured approach to implementing ESG.
During the 2024 financial year Staycold undertook a materiality assessment in accordance with the Global Reporting Initiative’s (GRI) materiality guidance to determine key themes and topics for future reporting. These materials matters have been incorporated into a strategy that drives Staycold’s sustainability efforts.
Currently Staycold is collecting data in line with the material topics identified to determine Staycold’s current status and the determining of a baseline position. This will enable responsible target setting across all of the material topics and provide for comparable data for future reporting.
Staycold International’s reporting will inter alia address the following key areas:
Environment
Due to its production of refrigeration products Staycold has an acute awareness of the need to ensure responsible manufacturing practices due to the potential environmental impact of refrigerants. Staycold’s sustainability strategy incorporates the careful management and measurement of scope 1-3 greenhouse gas (GHG) emissions. Staycold has already achieved a significant reduction in Scope 2 GHG through implementing the following:
- a 250,000W solar power plant has been installed on premises enabling a substantial reduction in the electricity purchase from Eskom.
- The factory equipment which is carefully controlled through the use of timers and relays to ensure that consumption is restricted wherever possible.
In addition to GHG Staycold is also actively addressing water and waste management so as not to pollute the environment. Water extraction is carefully measured and recycled where possible. Staycold assesses the quality of water that is returned to the water table and ensures that pollutants are kept well below any regulatory requirements.
In the area of waste management Staycold segregates all waste. Glass and steel off-cuts are stockpiled for the purposes of recycling. Staycold is currently investing options to reduce the use of packaging foam and plastic and limit the amount of waste that is sent to a landfill.
Elements of Staycold’s climate change strategy is guided by the knowledge that the largest contribution to GHG and carbon footprint from refrigerant products is during service activities. Staycold is addressing this risk by transitioning the entire range of products to low GWP hydrocarbon gas.
SOCIAL
Staycold is fully committed to its role in contributing to and being part of a fair, just and equal society. Staycold’s social themes are material due to the importance of workforce quality and customer trust. Staycold has obtained a clean audit from the Department of Employment and Labour. In addition a certificate of good standing has been received with the RMA.
Governance
Staycold considers strong corporate governance as critical to ensure compliance with industry regulations and maintain stakeholder trust. Staycold prioritises transparency, ethical leadership, and robust governance structures to uphold its commitment to responsible business practices.
With regard to governance Staycold:
- Has since its founding in 1979 maintained a record of receiving unqualified audit reports every year.
- Is a member firm of Universal Industries International, which has adopted the King IV corporate governance principles and practices.
- Endeavors to conform to the strictest standards of business practices to service the markets they operate in and it is for this reason that the company, as well as the products they supply, adheres to international standards such as IEC safety regulations, ISO testing procedures for products and ISO 9001 QMS systems for the production plant which has been assessed and approved ISO 90001 2105 Quality Management System by QSA International.
In summary, Staycold is proud of its efforts in establishing a responsible approach to ensuring a sustainable business, by applying global ESG principles and frameworks to our ESG strategy. Staycold is committed to transparency and a sustainability report, including Staycold’s carbon emissions and other material topics, will be available soon.
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