A message from our CEO

I'll shout it from the rooftops

With 2023 well underway – and, on a personal note, my six-month milestone as Eltwin Group CEO fast approaching – this CSR Report for 2022 is a prime opportunity to reflect on some of my initial impressions of Eltwin’s sustainability profile. When I joined Eltwin Group as CEO in December 2022, the strength of this company’s sustainability agenda was one of the key reasons. Being part of a company that is committed to making a difference appealed to me. Thankfully, my time amongst Eltwinners has only proven that our impact is even more significant than I first thought.

".. my time amongst Eltwinners has only proven that our impact is even more significant than I first thought."

In fact, one of our main ambitions in 2023 must be to get Eltwin Group and our customers deserved recognition for the role we are playing in the green transition. Unfortunately, this is something that we haven’t been good enough at explaining previously – both internally and externally.

Our sustainability impact deserves to be the talk of the town, and I’ll shout it from the rooftops if that’s required. From helping to decarbonize domestic heating and eliminate the use of hydrofluorocarbons in refrigeration, to the optimization of ventilation systems and the world’s general shift to electrification – Eltwin Group can directly contribute to reducing the global annual CO2 footprint by tens of billions of metric tons within the next decade.

This is the kind of impact that the wind turbine industry, as an example, can only dream of. Highlighting our current – and potential future – impact will benefit us in two key areas. Firstly, it can increase recognition of the importance of the electronics industry for the global green transition amongst the authorities and the public. This can help increase government support and private demand for our solutions. Secondly, a stronger sustainability profile will make Eltwin a more attractive workplace, ensuring we can both retain and attract the right talent to continue our current growth journey.

We need to tell our stories more often and more effectively, so that they echo louder and longer than before.

".. a stronger sustainability profile will make Eltwin a more attractive workplace."

For example, the biggest contribution Eltwin currently makes to the green transition is that almost three quarters of our products are used in heat pumps.

Heat pumps will be a key factor in the decarbonization of domestic heating in Europe. To successfully decouple domestic heating from fossil fuels by 2030, the number of heat pumps installed in Europe needs to rise from 2 million to 8 million. This will reduce the global CO2 footprint by 100 billion metric tons per year.

We need to adequately increase our capacity and train enough employees so that we ensure the green transition within domestic heating doesn’t stall. If we do this, we will retain our current market share and directly contribute to the removal of up to 20 billion metric tons of CO2 per year.

At the same time as we set ambitious growth targets to support the green transition, we must also improve our internal structures with regards to compliance in our value chain and our own production. The global increase in sustainability legislation will force our customers to make stricter and stricter demands of us. We cannot afford a black mark on our reputation, so we must improve and broaden our compliance capabilities to ensure our suppliers also live up to strict standards.

We need to live what we say. Both because it will ensure business stability, but also because it’s the right thing to do.

And as I’ve learned in recent months, at Eltwin Group, we call that a win-win.

Jens Ebbesen