Family-owned Paree Group is a long-term owner of leading small and medium-sized growth companies that all share its mission to make an impact today for a healthier and more sustainable tomorrow through their operations in MedTech and the built environment.
For Paree Group, sustainability values are rooted in our origin story. We have embraced sustainability as part of our mission and business strategies, and as a core principle guiding our actions and decisions.
Our values, which directly or indirectly align with sustainability, include consistent integrity, courage to renew, collaborate to win, and creativity through diversity.
We are committed to setting ambitious goals, measuring our progress, and engaging our stakeholders in meaningful dialogue and cooperation. We aim to create long-term value for our owners, employees, and customers by reducing our footprint and increasing our hand print. Our collective efforts will contribute to a more sustainable and prosperous future for all.
Our services cover the entire value chain from the initial idea to the commercialized solution, which is:
Smart and innovative, resulting from customer-centric and data-driven processes
Safe to use for our end-users as well as employees and partners to develop, manufacture, and deliver
Sustainable for both people and the planet, while also focusing on business profitability and competitive advantage
Effective for recurring everyday challenges, making customer workflows more fluent
Innovating sustainable products and services to disrupt norms and meet evolving market demands is crucial for our success. Being responsible enhances the brand, builds credibility, and cultivates trust, engaging stakeholders.
We are committed to setting ambitious goals, measuring our progress and engaging our stakeholders in meaningful dialogue and cooperation.
Key Sustainability Themes
We embrace sustainability as a core principle guiding our actions and decisions.
Paree Group’s double materiality assessment was conducted in line with the requirements of the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS), still drafts at the time of the assessment in April–June 2023. We wanted to carry out the assessment to future-proof the company for the upcoming CSRD regulation and to gain insights into the development of our first sustainability strategy. The double materiality assessment identified material topics for Paree Group: Climate Change, Resource Use and Circular Economy, Own Workforce, Workers in the Value Chain, Consumers and End-Users, and Business Conduct. These topics will be at the center of Paree Group’s and its subsidiaries’ sustainability work and reporting in the coming years.
Climate
Paree Group and its subsidiaries are committed to reducing our environmental footprint as well as increasing our handprint.
Carbon footprint calculations in 2023 cover the Group and its subsidiaries. In total, Paree Group’s carbon footprint amounted to 1,902 tCO2e, including Scopes 1 and 2. Scope 3 emission data was not included in the Group’s figure but is available in some of the subsidiaries’ data.
By 2026, we aim to calculate and report our carbon footprint for all three Scopes and to set science-based targets according to the Science Based Targets initiative’s criteria, with the roadmap toward net-zero.
Resource use and circular economy
Circular economy is a material focus area for different subsidiaries with the aim to reduce our footprint and increase our handprint. In 2023, we set up a Circular Economy Center of Excellence with participants from the subsidiaries working with supply chains, starting with a clear aim to reduce waste and increase the amount of recycled material in production and packaging. Another focus area is R&D and new product development. The subsidiaries incorporate design for sustainability into their processes.
Paree Group and its subsidiaries are committed to reducing the use of virgin resources and working toward a circular economy. We will work more closely with suppliers, customers, and stakeholders to create a future where materials are continually reused and recycled and ensure that new products are aligned with sustainability.
Please, read more in the Sustainability report 2023.
Own workforce
At Paree Group, we are all dedicated to fostering a work environment that prioritizes employee engagement, well-being and continuous development.
We take care of our employees in several ways, for instance by encouraging value-based leadership, continuous learning and monitoring and supporting employee well-being and engagement.
We offer equal opportunities for professional development with various initiatives across our organization. We promote the learning and skill development of our employees, which is exemplified by for instance Paree Leading for Future program facilitated by Henley Business School, language courses and frequent webinar trainings.
Please, read more in the Sustainability report 2023.
Responsible sourcing
We aim to select only suppliers whose social and environmental standards are consistent with our own, and who act in a way that is consistent with the principles and values of our Supplier and Distributor Codes of Conduct.
In 2023, our subsidiaries started our supplier sustainability risk assessments, created a self-assessment questionnaire, and launched a Supplier Code of Conduct (SCoC). At the same time, we began to discuss and share our SCoC with our suppliers. We have also created a Distributor Code of Conduct for our distributors to commit to. At the end of the day, our goal is to promote sustainability in collaboration with our partners.
Please, read more in the Sustainability report 2023.
Business conduct
Knowing and following applicable laws and regulations is a basic requirement for all of us. Our Code of Conduct applies to everyone in our company, at every level, including employees, management, and board members. The Code of Conduct is supplemented with various policies, principles, and guidelines, including our environmental policy.
Everybody in our group must participate in the Code of Conduct training and testing. At the end of 2023, 96% of the parent company’s and subsidiaries’ employees had completed the training.
Paree Group has a whistleblowing channel for its internal and external stakeholders available on our website. Through this grievance channel, reporting of concerns can be done in good faith, anonymously if desired, and without fear of reprisal. All reported cases undergo a thorough investigation and follow-up.
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Download Paree Group’s sustainability report 2023
Paree Group has published its first group-wide sustainability report. Learn about how we commit to sustainable business practices.
