Environment, social and governance report

Sustainability

Our business is centred on championing and reducing the effect of people on the environment and as a company our main goal is to enable the production of clean, sustainable fuels. This results in a significant positive impact on climate change and a meaningful corporate social responsibility ethic.

Velocys’ commitment to acting and developing sustainably lies within our corporate strategy and goals. As part of this commitment, we appointed a dedicated sustainability officer and have now developed an ESG policy.

As an organisation we are also mindful of the impact of our own operations. We recognise a shared responsibility in the conduct of our business to minimise the depletion of natural resources, reduce waste and lessen our own contribution to climate change. There is an understanding that sustainability encompasses human and social aspects as well as environmental ones. We monitor our manufacturing operations including catalyst, reactor, and supply chain, as well as our administrative operations for use of energy, travel, water, waste and usage of material resources. For example, in order to reduce direct CO2 emissions, we restrict business class air travel and through the recent experience of COVID-19 pandemic we have found that replacing travel for face to face meetings with video conferencing is more time and cost efficient whilst also reducing our carbon footprint.

Much of how we approach the company’s sustainability is driven by the UN’s 17 Sustainable Development Goals (“SDGs”) which encompass a blueprint for a more sustainable future. These goals covering eradicating poverty, promoting health and well-being, education, equality, sustainable development and consumption, climate action, conserving the marine and land environment, peace, and justice are interconnected.

These goals guide us as to how we, as a company, can make a difference and are increasingly being acknowledged by investors, as well as our customers and suppliers. Although we are a small company, we consider ourselves to be in the process of making meaningful contributions to a number of these SDGs and the UN 2030 Agenda for Sustainable Development. In the next table we highlight some examples of our alignment.

 

Employees

Our employees are at the heart of everything we do, and their expertise and well-being allow our company to exist, grow and make that difference both internally and externally. We strive to be a responsible employer, which includes regular staff evaluation reviews, career development and training opportunities, pension and medical schemes, and welfare monitoring and support.

We are an equal opportunity employer and welcome qualified individuals of diverse nationalities, backgrounds and race. We believe respect, kindness and care should be naturally bestowed and part of our company foundation to make our employees feel safe, secure, valued and empowered to have more than satisfactory roles, be recognised for their contribution, and included in the strategic drive of the business.

Our culture is one of each voice matters and the executive and leadership team promote an open access mode of communication. Regular surveys and talk forums including a monthly town hall meeting are held to create a positive two-way flow of business and welfare communication. Externally, we equally value our stakeholder engagement and alongside direct communication we also utilise online channels to disseminate relevant company news to engage and open debate on our environmentally conscious company offering and net positive impact on society.

Health and Safety

Velocys takes the safety and well-being of its employees seriously. Velocys has created a culture of safety, health, and environmental responsibility and continuous improvement that extends from the CEO to all employees. Each employee is encouraged to actively participate in, and take responsibility for, their own safety and health through various opportunities, such as by providing suggestions for improvement, participating in safety and environmental training and site meetings. Holding leadership positions on the site’s Safety Committee or serving on an investigation team that performs root cause analysis of potential hazards or near misses at the site is actively encouraged.

Velocys maintains detailed records that are required for regulatory compliance, and also ensures safety policy, programme, and hazard communication documents are available to all staff. An elevated level of rigor is placed on completing thorough job safety analyses before work on a new or unfamiliar task begins. To ensure lost time accident risk is minimised the Company has a rigorous practice of near-miss reporting throughout its activities.

During 2020 a dedicated COVID-19 response committee was formed to focus on keeping our employees safe whilst working from home or travelling on Company business.

Conclusion

Velocys has a unique technology offering which can significantly benefit the environment and lessen the impact of heavy transport on climate change. Our values, employees, stakeholders, and environmental contribution are the essence of our Company foundation and success. We value and are committed to each of them.Our technology which provides a sustainable solution in the purest sense is one which has a far-reaching impact on the individual, regions, industry, and governments all driving the ecosystem of economic sustainable growth.

Investors contact

Oxford Office
Magdalen Centre
Robert Robinson Avenue
The Oxford Science Park
Oxford,
OX4 4GA
United Kingdom
Office: +44 1865 800821