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Premier Diamond Products Ltd's Climate Report

Submitted on 2024-10-02

Introduction *

Commitment and Targets *

Own Emissions *

Value Chain Emissions *

(optional)

Climate Solutions *

(optional)

Management, Strategy and Climate Risk *

(optional)

Results, Challenges and Outlook *

Version 3.0

Introduction *

1.1 Reporting year

*

2023

1.1.1 Reporting period

*

from 6.2023 to 5.2024

1.2 Describe your business activities

*
The supply and assembly of diamond cutting and drilling tools

1.4 Number of employees in the reporting year

*
12

1.4.1 Full-time equivalent (FTE) or headcounts

*
Headcounts

1.5 Let us know if your company is a parent company or subsidiary

*
Not applicable

Commitment and Targets *

2.1 Net zero target year

*
2050

2.1.1 Base year

*
2021

2.2 Near-term target

*

60% of absolute scope 1 emission reduction from my base year by 2030

60 of absolute scope 2 emission reduction from my base year by

60 of absolute scope 3 emission reduction from my base year by

2.3 Provide any additional comments or context on your net zero and near term targets.

*
Premier Diamond Products aims to be Carbon Neutral by 2030

Own Emissions *

3.1 To reduce emissions in line with my commitment, my company has a plan and is taking action

*
Yes

Energy consumption

3.2 Total energy consumption

*
31000 kwh

3.3 Renewable energy

*
31000 kwh

Scope 1 emissions

3.4 Scope 1 emissions

*
58.5 metric tons CO2e

Scope 2 emissions

3.5 Location based scope 2 emissions

*
21.2 metric tons CO2e

3.7 Describe your plans and actions taken to reduce scope 1 & 2 emissions.

*
PDP has installed motion-activated lighting in our warehouse and certain office areas. All our heating and cooling is run by 100% renewable electricity, and is thermostatically controlled. We are about to enter into consultation regarding Carbon neutrality, and are considering certain Carbon offset measures, e.g. installing Solar panels and tree-planting.

3.8 Describe the calculation methodology and comment on the data accuracy, including any tools/methods used to calculate.

*
We used the Normative calculator to arrive at our estimated Total emissions, and individual Scope ratings

Value Chain Emissions (optional) *

Scope 3 emissions

4.1 Have you measured any of your scope 3 emissions?

*
Yes

4.1.1 Total scope 3 emissions

*
310 metric tons CO2e

Supply chain related - upstream emissions

Customer related - downstream emissions

4.1.17 Do you have a plan and are taking action to reduce emissions from your value chain?

*

Yes

We have adjusted our purchasing model so that we can now order goods from the Far East from a variety of Suppliers and Factories, whilst reducing the number of ships used to convey the goods.

4.2 Have you asked any of your suppliers to set a net zero target (either voluntarily or as a requirement)?

*
Yes

4.2.1 What percentage of your suppliers have you asked?

*
90 of emissions covered

4.3 Have you communicated your commitment and actions to any of your customers?

*
Yes

4.4 Describe the calculation methodology and comment on the data accuracy and any tools used to calculate your scope 3 emissions.

*
We used the Normative calculator to arrive at our estimated Total emissions, and individual Scope ratings. We have published our total emissions for Scope 3, but haven't been able to split them down into categories at this stage.

Climate Solutions (optional) *

5.1 Do you classify any of your existing goods and/or services as a climate solution?

*
Yes

5.2 What percentage of your total revenue comes from sales of climate solutions?

*
5 %

5.3 Provide descriptions/names of your climate solutions:

*
Our Bionic range of diamond cutting blades has been developed for the growing battery-powered tool market. The blades have been designed to reduce noise pollution, whilst increasing productivity, leading to a shorter trigger time for the user.

5.4 Methodology used to assess these as climate solutions, and third party which has validated the assessment, if any:

*
Real-time and field testing on the Bionic range of blades has been carried out, comparing a number of similar manufacturers' blades. Every cut made in testing was measured for time taken, whilst the sound was recorded by a noise meter.

Management, Strategy and Climate Risk (optional) *

6.1 What governance processes do you have in place for your climate strategy? Choose as many as are applicable.

*

Governance process in place

6.2 Have you started to identify and assess your companies climate risks and opportunities?

*
Yes - we have identified climate risks

6.2.1 Where are the climate risks you've identified?

*
Both operations and value chains

6.2.2 How are you managing these climate risks? Choose as many as are applicable.

*

We\'ve assessed these risks against revenue of the company

6.3 Have you integrated climate and/or nature into your company mission statement or shareholder agreements? If yes, describe how.

*

No

-

6.4 Have you taken actions this year outside of your emissions to accelerate climate progress?

*

No

-

Results, Challenges and Outlook *

7.1 Provide any additional comments or context on your annual results and progress from previous years.

*
We are delighted to have reduced our total estimated emissions from 526 to 310 in the reported year. However, although our Scope 3 emissions reduced drastically, both our Scope 1 & 2 emissions increased, so we will concentrate on reducing all 3 areas during 2024-5.

7.2 Do you face any key challenges in reducing emissions?

*

Reducing scope 1 emissions,Reducing scope 2 emissions,Reducing scope 3 emissions,Balancing emission reductions with business growth,Complexities in managing supply chain emissions,Slow societal and economic progress on climate action,Insufficient policies or government incentives,Time constraints,Lack of skills and knowledge,Insufficient funding,Inaccurate or insufficient data,Low return on investment,Limited influence over suppliers

7.3 Has there been any third party validation of the data submitted in this report?

*

No

-

Premier Diamond Products Ltd's Climate Report

Premier Diamond Products Ltd's Climate Report - 2023

Introduction *

1.1 Reporting year

*

2023

1.1.1 Reporting period

*

from 6.2023 to 5.2024

1.2 Describe your business activities

*
The supply and assembly of diamond cutting and drilling tools

1.4 Number of employees in the reporting year

*
12

1.4.1 Full-time equivalent (FTE) or headcounts

*
Headcounts

1.5 Let us know if your company is a parent company or subsidiary

*
Not applicable

Commitment and Targets *

2.1 Net zero target year

*
2050

2.1.1 Base year

*
2021

2.2 Near-term target

*

60% of absolute scope 1 emission reduction from my base year by 2030

60 of absolute scope 2 emission reduction from my base year by

60 of absolute scope 3 emission reduction from my base year by

2.3 Provide any additional comments or context on your net zero and near term targets.

*
Premier Diamond Products aims to be Carbon Neutral by 2030

Own Emissions *

3.1 To reduce emissions in line with my commitment, my company has a plan and is taking action

*
Yes

Energy consumption

3.2 Total energy consumption

*
31000 kwh

3.3 Renewable energy

*
31000 kwh

Scope 1 emissions

3.4 Scope 1 emissions

*
58.5 metric tons CO2e

Scope 2 emissions

3.5 Location based scope 2 emissions

*
21.2 metric tons CO2e

3.7 Describe your plans and actions taken to reduce scope 1 & 2 emissions.

*
PDP has installed motion-activated lighting in our warehouse and certain office areas. All our heating and cooling is run by 100% renewable electricity, and is thermostatically controlled. We are about to enter into consultation regarding Carbon neutrality, and are considering certain Carbon offset measures, e.g. installing Solar panels and tree-planting.

3.8 Describe the calculation methodology and comment on the data accuracy, including any tools/methods used to calculate.

*
We used the Normative calculator to arrive at our estimated Total emissions, and individual Scope ratings

Value Chain Emissions (optional) *

Scope 3 emissions

4.1 Have you measured any of your scope 3 emissions?

*
Yes

4.1.1 Total scope 3 emissions

*
310 metric tons CO2e

Supply chain related - upstream emissions

Customer related - downstream emissions

4.1.17 Do you have a plan and are taking action to reduce emissions from your value chain?

*

Yes

We have adjusted our purchasing model so that we can now order goods from the Far East from a variety of Suppliers and Factories, whilst reducing the number of ships used to convey the goods.

4.2 Have you asked any of your suppliers to set a net zero target (either voluntarily or as a requirement)?

*
Yes

4.2.1 What percentage of your suppliers have you asked?

*
90 of emissions covered

4.3 Have you communicated your commitment and actions to any of your customers?

*
Yes

4.4 Describe the calculation methodology and comment on the data accuracy and any tools used to calculate your scope 3 emissions.

*
We used the Normative calculator to arrive at our estimated Total emissions, and individual Scope ratings. We have published our total emissions for Scope 3, but haven't been able to split them down into categories at this stage.

Climate Solutions (optional) *

5.1 Do you classify any of your existing goods and/or services as a climate solution?

*
Yes

5.2 What percentage of your total revenue comes from sales of climate solutions?

*
5 %

5.3 Provide descriptions/names of your climate solutions:

*
Our Bionic range of diamond cutting blades has been developed for the growing battery-powered tool market. The blades have been designed to reduce noise pollution, whilst increasing productivity, leading to a shorter trigger time for the user.

5.4 Methodology used to assess these as climate solutions, and third party which has validated the assessment, if any:

*
Real-time and field testing on the Bionic range of blades has been carried out, comparing a number of similar manufacturers' blades. Every cut made in testing was measured for time taken, whilst the sound was recorded by a noise meter.

Management, Strategy and Climate Risk (optional) *

6.1 What governance processes do you have in place for your climate strategy? Choose as many as are applicable.

*

Governance process in place

6.2 Have you started to identify and assess your companies climate risks and opportunities?

*
Yes - we have identified climate risks

6.2.1 Where are the climate risks you've identified?

*
Both operations and value chains

6.2.2 How are you managing these climate risks? Choose as many as are applicable.

*

We\'ve assessed these risks against revenue of the company

6.3 Have you integrated climate and/or nature into your company mission statement or shareholder agreements? If yes, describe how.

*

No

-

6.4 Have you taken actions this year outside of your emissions to accelerate climate progress?

*

No

-

Results, Challenges and Outlook *

7.1 Provide any additional comments or context on your annual results and progress from previous years.

*
We are delighted to have reduced our total estimated emissions from 526 to 310 in the reported year. However, although our Scope 3 emissions reduced drastically, both our Scope 1 & 2 emissions increased, so we will concentrate on reducing all 3 areas during 2024-5.

7.2 Do you face any key challenges in reducing emissions?

*

Reducing scope 1 emissions,Reducing scope 2 emissions,Reducing scope 3 emissions,Balancing emission reductions with business growth,Complexities in managing supply chain emissions,Slow societal and economic progress on climate action,Insufficient policies or government incentives,Time constraints,Lack of skills and knowledge,Insufficient funding,Inaccurate or insufficient data,Low return on investment,Limited influence over suppliers

7.3 Has there been any third party validation of the data submitted in this report?

*

No

-
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