Environmental, Social and Governance Report 2023

Letter from the CEO
I am proud to present our third ESG Report to you. What started as a journey into the unknown has become a hygiene factor across the market, with legislation enabling new standards and reporting requirements. We have diligently learned and made a few significant moves to demonstrate our commitment to a sustainable future! Our initiatives, like Vendor Scoring and Partner Code of Conduct, have greatly increased our awareness about the quality of our partnerships and provide a solid basis for driving our business towards a climate-friendly, socially responsible and well-governed future.

Given that 2024 is the first year requiring reports based on ESRS, we have entered into a long-term partnership with Mitigate – our local champions in enabling multinationals to ensure full compliance with existing legislation and providers of a convenient cloud-based platform to gather data across multiple entities and geographies in ELKO Group. We are proud to say that we cover 100% of ELKO's business in our current report. It has streamlined our workflow and systematized our approach to make sure we do not miss all the nitty-gritty details along the way.

As a highlight, we would like to emphasize that the latest Vendor Net Promoter Score (NPS) results underscore a significant shift in priorities among vendors, with sustainability emerging as a critical factor in decision-making. Achieving an impressive score of 8.2 out of 10 in importance, it is evident that environmental considerations are increasingly influencing distributor choices. The emphasis on sustainability is not just a passing trend but a fundamental change in how businesses operate and make decisions. Vendors are now more inclined to partner with distributors who demonstrate a growing preference for environmentally responsible practices.

Looking forward, I am also proud to point out that ELKO has recently become a part of the Science Based Targets initiative by committing to establish clear and practical goals to reach net-zero in 2030. We value the opportunity to share the experience and learn from sector leaders in our path to reach our sustainability goals. The only way to continue the development is to ensure strong engagement from all stakeholders is present, and we are highly committed to continuing this journey!

Svens Dinsdorfs
The CEO of ELKO Group
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