woom Publishes Sustainability Strategy
- Target to reduce internal greenhouse gas emissions by 42% by 2030
- Internal greenhouse gas emissions dropped by 16% in 2022
- Code of conduct, social audits, and transparency along the entire supply chain
Klosterneuburg, 07/25/2023: woom, the manufacturer of bikes for children and teenagers, has published its Sustainability Report for the 2022 financial year along with its sustainability strategy setting out specific environmental, social, and governance targets to be achieved by 2030.
“It’s our mission to design premium bikes that last and last, with the aim of sparking a lifelong love of cycling in children and encouraging them to live an active and sustainable lifestyle,” says woom CEO Paul Fattinger. “Beyond that, we look carefully at every single aspect of our business to pinpoint ways we can make it as sustainable as possible.”
Reduction of Greenhouse Gas Emissions
To set itself up for success, the company sets its targets in line with the standards of the Science Based Targets initiative (SBTi). The SBTi, a collaborative effort between the CDP, UN Global Compact, World Resources Institute, and WWF, is one of the world’s most widely recognized and highly regarded climate protection initiatives. It independently assesses and approves the science based targets businesses set themselves for reducing greenhouse gas emissions.
Science Based Targets (SBT)
woom has committed to the goal of reducing its carbon footprint all the way along its value chain by 2030. The company’s target is to reduce its internal greenhouse gas emissions by 42% from its 2020 baseline by 2030 (Scope 1 and Scope 2 = all direct emissions that occur from sources that are owned or controlled by the company and all indirect emissions from consumption of purchased energy), while also measuring and reducing emissions along the value chain (Scope 3 = all indirect emissions upstream and downstream of the company’s activities).
In 2022, woom succeeded in reducing its internal greenhouse gas emissions (Scope 1 and 2) by 16% from its 2020 baseline.
“We accept our responsibility in relation to our production processes and the materials used in our products – and we are aware of the associated emissions. We are working hard to make sure that our partners meet the highest of social and safety standards,” says Milica Aksentic, Head of Sustainability at woom. “Our Sustainability Report for the 2022 financial year is an important milestone that highlights our unwavering commitment to transparency and continuous improvement – for the benefit of our customers and for the good of our planet.”
woom will measure all its emissions on an annual basis to ensure the company is on track to achieve its targets in the future. Three key areas with a significant impact have been identified: “We’re aiming to increase the use of recycled materials in our products, shift to plastic-free product packaging, and make the transition to renewable energy sources at supplier companies and production facilities,” says Aksentic. The Head of Sustainability has also confirmed that woom is planning to get involved with various projects promoting circularity, with the aim of making woom bikes last even longer.
Sector-Wide Initiatives
woom values partnerships based on the understanding that the bicycle industry needs to work together to become sustainable. woom demonstrated that it was continuing to lead the way on sustainability by making two major industry commitments in 2022.
Firstly, woom signed the Bike Charta – a corporate social responsibility action plan aimed at resource conservation, sustainability, and climate protection for products and services in the bicycle industry.
woom also signed the Climate Commitment instigated by the non-profit initiative Shift Cycling Culture, taking responsibility for the impact on the UN climate goals and committing to achieving them together with the rest of the bicycle industry.
Code of Conduct and Supplier Social Audits
Dedicated to continuous improvement in terms of social sustainability too, woom made it mandatory for all its suppliers to commit to the woom Code of Conduct. woom will be performing regular inspections called social audits at its major production facilities in Asia from now on to ensure that the Code of Conduct is being followed. Action will be taken to improve working conditions where necessary. Key suppliers are also being required to document and disclose their own sustainability efforts.
Transparent Supply Chain
Improving transparency along the supply chain is a priority for woom. And so woom will be working even more closely with its suppliers going forward with a view to building up a full picture of its complex international supply and value chains and ultimately achieving transparency. All suppliers will be required to commit to full transparency surrounding their sustainability efforts in the future. As a result, all stakeholders will be able to quickly pick up on best practices, risks, and outstanding action areas. It will then be possible to take targeted preventative steps and ensure that standards are being upheld.
Charity
Fostering a love of bike riding in children is the woom mission. But the company is also committed to improving the quality of life of disadvantaged children and their families on a broader level. Throughout 2022, woom supported charitable organizations in Europe and the USA that are devoted to improving the living conditions of families and children in need along with social projects with a focus on health and sports for children in Asia, the USA, and Europe.
woom donated bikes to the following organizations in the USA:
- Basecamp Collective to support the community in Boulder, Colorado after wildfires destroyed countless homes
- Austin Council of Parents and Teachers to support local schools
- Oxford Houses of Texas, a sober-living organization that helps parents get back on their feet and supports their children throughout the recovery process
woom supported Caritas and SOS Children’s Villages in Austria and provided emergency aid in collaboration with SOS Children’s Villages in Ukraine.
In addition, woom provided funding for the inclusive sports week organized by the Austrian Sports Association for Disabled Children.
Pedaling Together
At the end of 2022, woom had 254 employees in total at its offices in Klosterneuburg and Austin, which was 37% more than in 2021. The company already offers its employees attractive benefits and plenty of opportunities for training and development. woom has prioritized the targets of increasing the percentage of women in leadership roles (which is 35% as it stands), promoting equitable pay, and improving inclusivity in the future. Throughout the year, woom employees (known as woomsters) are encouraged to live a more sustainable lifestyle through a long list of initiatives that includes the woom Car-Free Day and Green Office.
Read the woom Sustainability Report 2022: LINK
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About woom
- Founded in 2013 by Christian Bezdeka and Marcus Ihlenfeld in a garage in Vienna.
- woom has revolutionized children’s bikes and set new standards.
- woom bikes are superlight and ergonomic, have won multiple awards, and are equipped with numerous features to enhance safety.
- Today, woom is a global brand with a presence in more than 30 countries around the globe, above all in Germany, Austria, Switzerland, and the USA.
- 2020: woom welcomes a group of investors on board, with Marcus Ihlenfeld and Christian Bezdeka retaining a two-thirds majority.
- 2021: woom establishes exclusive Europe-based production for the European market and the 500,000th woom bike rolls off the production line.
- 2022: Advancing internationalization: woom expands the dealer network and D2C segment and welcomes the Jebsen Group on board as a new investor.
- 2023: 10 Years of Magic Moments: woom celebrates its tenth anniversary.
Inquiries & contact:
Belinda Ableitinger, PR Manager
+43-664/888-22-837
[email protected]
https://www.woom.com