Colt CZ Group issues its inaugural Sustainability Report
Prague (June 29, 2023) ― Colt CZ Group SE (“Colt CZ”, the “Group” or the “Company”) today published its first Sustainability report covering the year 2022. The report identifies key areas where the Group operations have a substantial impact on the environment and the society and sets up relevant and achievable goals within four specific pillars – Environment, People, Product, and Governance.
“We believe that the concept of sustainability needs to be embedded in our business strategy and that we must integrate sustainable practices into all aspects of our thinking and operations. We see engagement with sustainability as an opportunity to transform our business operations by promoting change, accelerating innovation, and encouraging cooperation, while building the trust of our people, customers, and the wider society,” said Jan Drahota, CEO and Chairman of the Board of Directors of Colt CZ Group.
Colt CZ aims to balance its growth with environmental responsibility and ensuring social well-being of its people, as well as including those who work with the Group or can be impacted by its activities. To do so, the following objectives and goals within the four specific pillars – Environment, People, Product, and Governance – have been set:
The Group’s objective is to promote operational eco-efficiency by minimizing the environmental impact of its operations by preventing pollution, reducing waste, saving energy, and limiting water consumption.
For both current and prospective employees, the Group aims to be the employer of choice and an active participant in communities where Colt CZ operates. This includes attracting and nurturing talent in an inclusive environment, while ensuring the health and well-being of our people and strengthening local communities.
Colt CZ’s objective is to embed innovation, reliability, and responsibility into the DNA of its products and processes, with the ambition to promote innovative technologies to produce reliable, resilient, and durable products while fostering enduring relationships with our customers.
The cornerstone of the Group’s Governance sustainability strategy is promoting responsible business practices. Colt CZ operates ethically, encouraging its partners to adhere to the same high standards.
To prepare for the upcoming requirements of the EU Corporate Sustainability Reporting Directive (CSRD) and to ensure its progress is trackable and scalable, Colt CZ has aligned its reporting practices with the Global Reporting Initiative (GRI). Furthermore, Colt CZ has used the United Nations' Sustainable Development Goals (SDGs) as a roadmap. Colt CZ Group contributes through its actions to achieve the following goals: Quality education; decent work and economic growth; industry, innovation and infrastructure; responsible consumption and production; climate action; and peace, justice and strong institutions.
Recognizing that sustainability needs to be a coordinated, long-term effort with clearly defined priorities. Among those priorities is to calculate the entire Group’s carbon footprint for Scope 1 and 2 type emissions and prepare a decarbonization plan that includes setting targets for their reduction. Decarbonization strategy has been set and is being implemented for the industrial area of Česká zbrojovka in Uherský Brod, including a proposal for saving measures, such as insulation of buildings, more efficient lighting systems, exchange of transformers or options to increase renewable energy in the energy mix. This strategy serves as a best practice for other Group’s facilities. Additional areas that are fundamental to Group’s efforts include improving data collection and tracking to introduce meaningful metrics in other areas, such as waste and recycling, as well as ensuring our employees’ education and well-being.
You can find the Colt CZ Group 2022 Sustainability report here.
About Colt CZ Group SE
Colt CZ Group (Colt CZ) is one of the leading producers of firearms and ammunition for military and law enforcement, personal defense, hunting, sport shooting, and other commercial use. It markets and sells its products mainly under the Colt, CZ (Česká zbrojovka), Colt Canada, CZ-USA, Dan Wesson, Spuhr, swissAA and 4M Systems brands.
Colt CZ Group is headquartered in the Czech Republic and employs more than 2,000 people in its production facilities in the Czech Republic, the United States, Canada, Sweden, Switzerland, and Hungary. Colt CZ is owned by Česká zbrojovka Partners SE from 76.0%, with the remaining 24.0% being a free float.
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