Tolsa presents its IV sustainability report

Javier Pau Gamarra, General Manager of Tolsa, presents Tolsa’s fourth Sustainability Report

As every year, we present our Sustainability Report in its fourth edition.

This document is both an exercise in transparency with our stakeholders and a commitment as a company.

It shares who we are today and where we aim to go in terms of sustainability. It highlights our main advances and initiatives in 2023 and reaffirms our long-term commitment to sustainable progress.

It is also a commitment to making our purpose a reality:

“Make a positive impact in society by making better use of 21st Century resources.”

2023 marked Tolsa’s 66th anniversary, a milestone in our history of growth and transformation.

Over the decades, we have expanded our business with new products and a global presence, which has brought both positive and negative impacts. Managing these impacts, along with the associated risks and opportunities for the environment, society, and our business, is crucial.

Integrating these responses into our growth strategy is essential to meet the increasing demands for sustainability from the market, regulators, and society at large.

Balancing the costs and benefits of sustainability with economic growth is challenging, particularly in a complex global environment. Despite ending 2023 with record results in sales, profitability, and financial health, we continue to face significant challenges, including geopolitical crises, globalization, and climate change.

We understand that the long-term survival of Tolsa depends on sustainable growth, rooted in environmental and social responsibility, and business ethics.

This report outlines how Tolsa transforms these principles into concrete actions.

The report is divided into three sections. The first section contextualizes our business, mission, and history, then shifts focus to our future-oriented growth strategy: becoming more sustainable by optimizing resource use and innovating to reduce environmental impacts throughout the product life cycle. This includes developing industrial applications that enhance the performance of our customers’ systems, thus lowering their environmental footprint.

In 2023, key initiatives included our advancements in Eco-design and the implementation of a sustainable mining model in our Senegal subsidiary, earning the first certification of its kind in West Africa.

These achievements underscore our commitment to a consistent, standardized sustainability policy, adapted to the diverse operations we manage globally.

Our commitment to our workforce is another cornerstone of our strategy.

In 2023, we made significant strides in creating stable, non-discriminatory employment and fostering internal talent. We increased training hours for employees and focused on hiring staff over 40, demonstrating our dedication to career development at all stages of life.

The second section of the report delves into our refined sustainability strategy, aligned with the United Nations Sustainable Development Goals. This strategy, based on a dual materiality analysis, is closely integrated with Tolsa’s core priorities and values.

The section includes interviews with Tolsa employees, offering insights into the real-world application of sustainable practices in their daily work.

We also provide detailed data on our carbon emissions reductions since 2019: a 54% decrease in Scope 1 emissions and a 23% decrease in Scope 2 emissions per tonne produced.

These figures reflect our ongoing efforts to reduce our environmental impact and align with global sustainability targets.

In the third section, the report highlights our engagement with local communities through various initiatives in environmental education, child protection, and health promotion.

These efforts are a key part of our commitment to positively impacting society.

I encourage you to download and consult our Sustainability Report to find out more about our work.