How sustainability is shaping the way we do business
iLOQ’s story has been one of sustainability from the very beginning. The company’s very first technological innovation was a digital access management solution that required no batteries or wiring. Our solution is inherently energy-efficient, energy-self-sufficient and efficient in terms of lifecycle costs. It is a win-win solution in terms of customer value and sustainability. Based on this revolutionary innovation, iLOQ has developed its business into what it is today: A sustainable technology company delivering digital cloud-based access management services around the world.
Playing our part in building a sustainable future
As we build sustainable growth based on responsible products and operations, we are able to pass on the same sustainability benefits to our customers down the line.”
Erja Sankari, Chief Operating Officer, iLOQ
According to the United Nations, climate change is one of the biggest threats we face globally. In 2021, iLOQ committed to a long-term sustainability strategy and set long-term targets. Based on extensive analysis work delving deep into our operations, we can proudly declare that we are already carbon neutral in Scope 1 and Scope 2. As a long-term target, iLOQ has made a commitment to staying carbon neutral, actively finding ways to minimize emissions in Scope 3 and achieving net-zero by 2050.
Taking a strategic approach
We believe that a solid sustainability strategy is an integral part of our business strategy. The two cannot exist separately from each other.”
Timo Pirskanen, CFO, iLOQ
At iLOQ, a solid sustainability strategy is an integral part of our business strategy. The two cannot exist separately from each other. During 2021, we went through a process of redefining both, to reflect our vision for the years ahead. We see that sustainability is one of the most important instruments in achieving the growth we are after. As we aim to build sustainable growth based on responsible products and operations, we are able to pass on the same sustainability benefits to our customers down the line.
Three key areas we will be addressing as a part of the new strategy will include i) continuously building our internal sustainability understanding and capabilities, ii) creating improved stakeholder practices, and iii) putting sustainability and circular economy at the core of our product development.
The new and stricter ESG requirements and taxonomy related to sustainable performance are obvious drivers for developments in sustainability data collection and reporting. For us, an extensive project, including a round of interviews with stakeholders from investors and employees to our locksmith partners and component suppliers, helped us further identify our sustainability targets. Consolidating our sustainability strategy and gaining the support and commitment of our own people was our primary objective. Our new strategy was launched in bold fashion to our entire personnel in Leverkusen, Germany, in November of 2021.
From strategy to concrete action
This strategy was received with great enthusiasm and the trainings around the topics of ethical and sustainable operations started in early 2022. We have now asked all employees to sign and commit to the new iLOQ Code of Conduct document. We expect all our suppliers to commit to cooperation based on the same values. WE have updated our Supplier Code of Conduct for 2022 and already started training with our key suppliers.
We recognize that the biggest positive influence we can have comes from reducing the environmental impact of our supply chain. The GHG (Greenhouse Gas) emissions of iLOQ’s own operations as of today, already stand at zero. We require our suppliers to continuously measure and improve environmental performance. Their actions may be related to things such as energy efficiency in production processes or more streamlined logistics. In the true spirit of iLOQ’s innovative approach to business, we decided that it is not enough to just calculate data at the end of a reporting term, but we wanted to monitor GHG emissions in real time.
The role of continuous innovation
Building sustainability capabilities within our organization and the entire value chain will ultimately determine our future success.”
Erja Sankari, Chief Operating Officer, iLOQ
With our partner, we have launched our very own data-driven monitoring and reporting tool for GHG emissions. It already provides us with reliable 3rd-party verified emissions data. As is the case already today, we will continue to favour suppliers that can show excellent improvements in environmental performance. Building sustainability capabilities within our organization and the entire value chain will ultimately determine our future success.
Our desire to continuously learn and develop plays a key role in allowing us to improve environmental performance. Our heritage as a company – customer orientation, innovation and lifelong learning – will help us grow as a company. New ideas and insights will always be carried forward into R&D and manufacturing practises. We are always seeking out ways to improve material and energy efficiency and further develop technological innovations that will ultimately help slow down climate change over the entire lifecycle of each of our products or solutions.