Stockholm, Sweden – May 04, 2023 – Mips – a global market-leading helmet-based safety technology company – is leading the way to accurately accounting for the environmental impact of its supply chain. The company’s work on a holistic strategy, including a model for determining and combating carbon emissions generated throughout product development, marks an opportunity for the company to better account for its environmental impact.
Given Mips outsources the manufacturing of its products, the company has analyzed all stages of its product development process and expanded its product life cycle analysis to create a more complete view of emissions produced. This analysis accounted for the suppliers’ production method, scrap rate, and energy consumption as well as the transportation method used, total travel distance, and volume of delivery. The analysis sets the foundation for future work in managing the challenge of achieving a large-scale reduction in emissions.
In 2022, Mips signed up for the UN Global Compact. Mips has since embedded the Ten Principles of the UN Global Compact into its Code of Conduct, which all the company’s manufacturing suppliers are obliged to uphold. Mips conducts bi-annual audits of all its manufacturing suppliers to ensure their adherence to the Mips’ Code of Conduct.
In 2023, Mips created a new ambitious sustainability roadmap based on its value chain emission analysis: In line with the Paris Agreement, Mips’ targets are approved by the Science Based Targets initiative (SBTi), to do its part in limiting global warming to 1.5°C. Analyzing and reducing supply chain emissions are a core tenet in emission reduction. Additional emission reduction strategies the organization is deploying include life cycle analyses of all Mips products and alternative product testing methods, such as the Mips Virtual Test Lab.
During Mips’ carbon emission mapping, the transport from China to Sweden for approval of the Mips technology’s functionality in helmets was discovered to be a source for carbon emissions. In order to mitigate this source of emissions, Mips invested in a test rig to be installed at the facilities in China during the first part of 2023. This will help minimize new helmet test redundancies and reduce transportation distances for helmets from factories in China to the Mips test lab in Sweden.
To further reduce emissions, Mips is exploring additional factory options that utilize cleaner energy production methods that would further reduce the need for lengthy helmet transportation.
In addition to environmental impact, Mips is equally focused on achieving social and economic sustainability through its business practices, company culture, and economic model.
More information on Mips’ sustainability initiatives can be found at https://mipscorp.com/annual-report-2022/#sustainability