Task force on Climate

The Board of Directors (BoD) determines BOBST’s corporate strategy and is responsible for the general risk-evaluation process and the internal control system. The BoD is regularly updated on changes and evolution of Swiss legislation on climate reporting, including awareness training and activities undertaken to formalize the management of climate-related risks and opportunities at BOBST. The BoD signs and approves the sustainability report, including the TCFD section.

To successfully consider climate-related risks and opportunities, BOBST adapted roles, responsibilities, and reporting processes where relevant. Further, specific training sessions on the topic were held at the executive and board level to foster their knowledge and support their responsibilities.

BOBST’s business activities might be affected by the impacts of climate change. These could be physical impacts, such as impacts from increased severity of extreme weather events or impacts from the transition towards a low-carbon economy, such as potential pressure on the availability of raw materials. In 2022 and 2023, BOBST performed an ad-hoc review of potential climate-related risks and opportunities. One opportunity identified is, for example, reducing energy consumption and emissions from machines.

BOBST’s key priority is to identify the most material climate-related risks and opportunities over different time horizons. Furthermore, the Group aims to assess the potential impacts of these risks and opportunities on business.

BOBST has implemented a comprehensive Group-wide risk management system based on the COSO Enterprise Risk Management framework. Over the past year, the company analyzed the best approach to integrate climate-related risks and opportunities into this framework, considering their unique characteristics.

In 2023, climate-related risks and opportunities were incorporated into the annual risk-management review process, which involves identifying and assessing risks through interviews with key Group managers and Business Unit representatives. The results of this process play a crucial role in defining necessary mitigation measures.

BOBST’s greenhouse gas (GHG) inventory shows that most carbon emissions occur downstream in its value chain. (See a detailed breakdown of Scope 1, 2, and 3 emissions, and a comparison to the previous year, on page 21 in the Sustainability report 2022).

Bobst Group will closely monitor and report on the progress and achievements related to the SBTi reduction targets. Additionally, based on the annual risk identification and assessment process results, BOBST is considering additional metrics and targets each year to reduce climate-related risks and leverage climate-related opportunities. In 2024, BOBST will perform a double materiality assessment which will further fine-tune the identified climate-related risks and opportunities.