GlobalData offers a comprehensive analysis of Ossur, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Ossur‘s ESG performance. GlobalData’s company profile on Ossur offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Icelandic prosthetics manufacturer Ossur has committed to achieving net-zero emissions, although it has not yet set a target date. In 2022, the company’s Scope 1 emissions amounted to 2,170 tonnes of carbon dioxide equivalent, Scope 2 location-based emissions amounted to 4,780 tonnes of carbon dioxide equivalent, Scope 2 market-based emissions amounted to 220 tonnes of carbon dioxide equivalent, and Scope 3 emissions amounted to 10,830 metric tonnes of carbon dioxide equivalent. Further, its total GHG emissions were 13,220 tCO2e which increased from 2021's 11,830 tCO2e in 2022. Ossur has partnered with First Climate, a leading service provider of carbon emissions management, and claims to have become carbon neutral for Scope 1 and 2 emissions, and selected scope 3 emissions. Further, the company is expected to submit their emissions targets to the Science Based Targets Initiative body in 2023. The company has established an emission factor per employee through available consumption data in Scandinavia and extrapolated to ensure completeness of data. Ossur’s latest filings mentioned the keywords ‘Emissions/Emission’ and ‘Renewable’ most number of times in relation to ‘Net Zero’.
Ossur has focused its efforts on mapping its Scope 3 emission sources to establish a baseline, as the majority of its emissions come from its supply chain. In 2023, it will establish an Ossur Supplier Sustainability program with the aim of reducing the emissions from its supply chain. The company has taken steps to reduce its environmental impact, such as redesigning its Connect® TF packaging to reduce overall weight by 16%, eliminate plastic, and introduce corrugated Kraft paper with 33% recycled content.
Ossur's primary raw materials are metals, silicone, carbon fiber, and plastics. The company aims to use raw materials in the most efficient way and eliminate waste from processes. In 2022, the total waste generated was 1550 tons, of which 68% were recycled and/or recovered, compared to 67% in 2021. The company has not yet set a target date for achieving net-zero emissions, but it has taken steps to reduce its emissions and partnered with First Climate to achieve carbon neutrality.
In conclusion, Ossur follows the operational control approach in the company's GHG emission accounting, in accordance with the Greenhouse Gas Protocol. First Climate has reviewed and validated the methodology behind Ossur's emission calculations. For environmental data, Ossur has partnered with Klappir for its Greenhouse Gas Accounting, which provides standardized accounting, transparency, and compliance. The company reports on emissions from scopes 1 and 2, and from scope 3 categories 1, 4, 5, 6, and 9.