A Sustainable Future, Our Driving Force
Vision 2030
Essex Solutions is motivated by and dedicated to our Vision of creating a sustainable future. Each decision, partnership, and investment we make as a company will be driven by this common goal. Essex is committed to being a part of the solution in improving environmental issues facing the world.
Our Core Values of Disruptive Innovation, Green Production and Agile Digitization are the pillars through which we strive to achieve this Vision.
Our Corporate Culture is the foundation our Vision is built upon. We think differently and approach challenges with an industry leading mindset while each business strategy executed is growth-driven with our Core Values at mind. The key to these Core Values is collaboration. As a global, multinational company, we must respect one another and strive to learn in order to work together.
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Green Production
Lead efforts in sustainability by reducing our waste, energy, carbon, and water footprints globally.
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Disruptive Innovation
Develop market changing products and services in partnership with, and in support of, our customers.
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Agile Digitization
Be a digitally savvy organization by being fully integrated, sustainably automated, and socially responsible.
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OUR GOALS
Green Production
Our Vision 2030 mission for green production is to be the recognized leader in creating sustainable solutions within magnet wire manufacturing—globally, to meet the needs for now as well as for the future and support our customers in their ongoing sustainability efforts.
Zero Waste to Landfill
By the end of 2023 we aim to achieve ZWTL status across our magnet wire plants, metals processing facilities as well as chemical processing locations. We will work to maintain this status through 2030, and beyond. For a plant to achieve ZWTL status, at least 98% of all waste leaving the facility must be diverted from landfill—including the downstream material management organization accepting the waste.
Renewable Energy
We have set targets of 17%, 27%, and 32% renewable energy utilized by the end of 2023, '27, and '30, respectively. Renewable energy is clean energy that comes from natural sources or processes that are easily replenished. Our renewable energy progress is based on total energy consumed.
Energy Reduction
We are working to reduce energy consumption from Essex Solutions plants’ Scope 1 and 2 energy sources (i.e. fuels and electricity) by 3%, 6%, and 10% by the end of goal years 2023, '27, and '30, respectively. All energy reduction calculations are benchmarked to production to show the plants increase in energy efficiency relative to production.
Carbon Reduction
We have established Science Based Targets following the Greenhouse Gas Protocol to reduce absolute Scope 1 and 2 emissions 22.5% by 2030. Additionally, we aim to reduce absolute Scope 3 emissions from purchased goods and services by 22.5% within the same timeframe. Both will be measured from a 2021 baseline
Disruptive Innovation
Essex Solutions is committed to supporting a sustainable future for all through Disruptive Innovation. By collaborating with our customers to support the Energy, Commercial & Residential, Industrial, and Automotive markets in new technology we can support a lower carbon economy to reduce overall impact across these industries.
Essex Solutions will measure itself against its ability to create disruptive innovation in material and production methods. That means, by 2030 we want:
- New, disruptive products that do not use harmful solvents
- Reduce carbon dioxide emissions by 50% for new products and new production methods developed specifically in our Japanese R&D Innovation Center
- Innovation of process and expansion of new production methods
In addition, we look at 2050 as an opportunity to be carbon neutral for all our new products and production methods in our Japanese R&D Innovation Center.
Agile Digitization
The digitization of buildings, communications, technologies—now and into the future—will enable the interconnectivity of all infrastructure to support a more sustainable world.
Essex Solutions is supporting that through the following measures:
Full Integration
Enabling connected digital ecosystems, supporting data and supply chains that are securely connected to interoperable systems, aligned to global industry standards
Green Technology
Defining Green IT as well as Green OT and developing platforms and technologies that enable 100% e-waste recycling and power efficient operations
Sustainable Automation
Streamlining the process of data collection and generating sustainability-related metrics to enable harmonious human-to-machine interaction
Social Impact
Bringing social value to the communities we serve with commitments to United Nations Sustainable Development Goals (UN SDGs)