“of particular note is our increased score from EcoVadis, on of the largest and most trusted providers of sustainability ratings”
A MESSAGE FROM OUR GENERAL MANAGER
Bringing together this, our 2nd annual sustainability report, has given us the opportunity to reflect on the progress and achievements of the last year on our Passage to Sustainability. This report details how we have performed against the goals we set ourselves for 2024.
I am pleased to say that there have been several positive outcomes in each of the key areas which anchor our sustainability strategy:
• Protecting Marine Life
• Access for All
• Innovating for the Future
Of particular note is our increased score from EcoVadis, one of the largest and most trusted providers of sustainability ratings. Our Silver medal and position as one of the top 15% of rated companies is a strong independent assessment of our progress, and the ongoing efforts of so many people across Raymarine.
We acknowledge to ourselves and our stakeholders that improving sustainability is a significant, ongoing commitment. Some objectives have proven more difficult or complex than originally expected, and we are actively working to address them. By identifying and analysing cases where targets are not met, we can apply lessons learned and continue to improve.
Our ‘Passage to Sustainability’ strategy remains the same. Targets and goals will continue to develop to reflect our progress and learning. Our destination remains the same.
Gregoire Outters General Manager of Raymarine and FLIR Maritime
2024 YEAR AT A VIEW
Embedding sustainability
Sustainability now formally included in and underpins Raymarine’s values and strategy
Reducing emissions
Reduced our Scope 1 and 2 GHG emissions by 48% versus our base year of 2019. A decrease of over 169 tonnes of CO2e
Understanding our wider impact
Measured our Scope 3 emissions as the first step to reduction 3
The detail of all these achievement is included in pages 11 — 16
KEY ACHIEVEMENTS
Plastic free packaging
All new products we have developed have plastic free packaging
Ongoing improvement
Products previously accounting for 50% of plastic packaging weight were converted to plastic free by the end of 2024. Preventing the creation of approx. 15 tonnes of plastic each year
Engaging all our crew
Improved waste sorting in our Head Office increasing recycling amount by 85%
SUSTAINABILITY IS A KEY FOUNDATION UPON WHICH OUR STRATEGY IS BUILT
We will always endeavour to minimise our impact on natural resources and protect our environment.
SUSTAINABILITY STRATEGY
When we set our sustainability strategy we considered a broad range of factors:
• Which of the 17 United Nations Sustainable Development Goals (UN SDGs) were most relevant
• The material sustainability factors for our industry*
• The aspects which were most important to our stakeholders, our customers and our team
Whilst our goals and targets will evolve, we remain committed to the 3 anchors of our sustainability strategy
• Preserving Marine Life
• Innovating for the Future
• Access for All
PRESERVING Marine life
We recognise the essential role water plays in sustaining both marine and human life. Our goal is to ensure that our actions contribute to the health and vitality of marine ecosystems.
ALIGNING WITH THE SDGs
• Goal 13 Climate Action Take urgent action to combat climate change and its impacts
• Goal 14 Life below water Conserve and sustainably use the oceans, seas and marine resources for sustainable development
*We referred to the International Sustainability Standards Board (ISSB) www.ifrs.org/groups/international-sustainability-standards-board/
INNOVATING For the future ACCESS For all
We thrive on innovation, constantly seeking new ideas, products, partnerships, and ways of working that set new standards for sustainability in the industry.
Our aim is to inspire others to follow in our wake as we lead by example.
ALIGNING WITH THE SDGs
• Goal 9 Industry, innovation and infrastructure
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
• Goal 12 Responsible production and consumption
Ensure sustainable consumption and production patterns
We are committed to fostering a safe and inclusive environment for current and future generations to enjoy water and the marine industry.
Everyone should have the opportunity to experience the joy of boating without compromising the environment.
ALIGNING WITH THE SDGs
• Goal 8 Decent work and economic growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
GOALS AND ACHIEVEMENTS
The Greenhouse Gas (GHG) Protocol categorises an organisation's activities into three emission 'scopes'. These are defined as:
Scope 3 emissions are a consequence of the activities of the company, but occur from sources not owned or controlled by the company e.g. during manufacture or transportation
PRESERVING Marine life
OUR 2024 GOALS KEY ACTIONS PLANNED HOW DID WE DO?
Reduce Scope 1 and Scope 2
Green House Gas Emissions by 34% versus our base year of 2019
Scope 3 Emissions measured.
Set action plans and target reductions with key suppliers
Solar panels at our Fareham Head Office
Energy efficiency survey and actions
Team power saving actions
Emissions measured using Normative
Key Supplier engagement
Product packaging is ‘plastic free’ for products manufactured after 2024
Reducing and removing plastic from the logistics / transport of products
Partner with packaging suppliers and experts
All newly created products have packaging which is free of plastic
Convert packaging for production of ‘ongoing’ products to plastic free
Work with logistics partners globally
We reduced Scope 1 and 2 emissions by 48% versus the base year. Decrease of >169 Tonnes of CO2e
Scope 3 accounts for 99% of our total emissions across Scope 1, 2, and 3, which is in line with expectations for our industry.
We measured the emissions of our supply chain, supported by Normative (carbon accounting software).
We took time to measure Scope 3 emissions using the average data method**, specifically employing product-type and weight-based carbon emission factors. This approach provides more granular and accurate information compared to the spend-based method.
Quantified all plastic in existing packaging
New ‘Plastic Free’ packaging developed beginning with packaging containing the most plastic.
Existing products previously accounting for 50% of annual plastic packaging weight were converted to plastic free packaging by end 2024 preventing the creation of approximately 15 tonnes of plastic each year.
New products developed have plastic free packaging eg Axiom 2 Pro and XL, Alpha Instruments. This has avoided over 3 tonnes of plastic packaging compared to our previous standard approach
2025 GOALS AND MEASURES
SCOPE 1 & 2
Reduce by over 50% (versus 2019 base year)
Set route map to Net Zero* emissions by 2030
SCOPE 3
Engage key suppliers in GHG reduction discussions
Target reductions in Scope 3.1 (purchased goods and services) emissions 'intensity' adjusted for value:
5% by end of 2025 35% by end of 2030
Our 2025 goal is still to work to achieve plastic free product packaging
This is a large and complex task to ensure our products remain protected on their journey to installation. Whilst it is taking longer than we anticipated we remain firmly committed to achieving this goal.
Set out our waste generation and management policy
Communicate to our customers and business partners
Improving measuring and recycling of waste from our office
Revise engineering and testing process to drive waste reduction
Clear information on electronic waste disposal
Introduced waste and recycling stations around the office in September 2024. Recycling increased by 85% (Sept to Dec 24)
Quantified impact of product testing and began planning ways to increase simulated and ‘lower materials’ methods of testing
We agreed the requirement for a product end of life policy which went beyond our head office, driving improved communication to customers and business partners on WEEE and primary packaging
Zero regular waste to landfill
Customers can choose not to have additional outer packaging when ordering multi product systems
Roll out product end of life policy and communication to customers and partners
GOALS AND ACHIEVEMENTS
INNOVATING For the future
OUR 2024 GOALS KEY ACTIONS PLANNED
HOW DID WE DO?
Sustainability is embedded in our organisational purpose and ways of working
Sustainability is part of our ambition and values
Business
Sustainability Goals for 2024 are cascaded into individual objectives
All new products we develop have sustainability criteria and targets
Updated New Product Development (NPD) process
Introduce a Design for Sustainability process
Sustainability now included in and underpins Raymarine’s strategy and values.
Communicated to our teams and in every All Hands meeting.
Corporate sustainability objectives now allocated to members of Leadership team annually and cascaded to individuals
2025 GOALS AND MEASURES
Ongoing reinforcement through management, All Hands and sustainability communications
Sustainability added into induction for new joiners
Benchmark our processes to the International Standards Organisation's Environmental Management Systems requirements (ISO14001)
Reduce / eliminate paper usage wherever possible
Transition user manuals, product brochures and price lists to digital formats
The NPD process was updated with sustainability a consideration at all approval stages.
Teams participated in 'design for sustainability' training (see Access for All goals and achievements)
Simplified the product range. Added process to ensure future product development avoids waste whilst still delivering customer requirements: eg consistency of parts, opportunities to upgrade, minimising components
All new products have digital manuals (rather than paper)
Approximately 70% of existing products have also now been transitioned to digital manuals
Product brochures and price lists are now ‘digital first’ and printed only by exception
Set consistent documented engineering processes for sustainability
Set and begin to monitor targets eg reduced components, repairability, % recycled / recyclable material, component consistency
‘road maps’ for future product innovation include planned sustainability actions
Complete transition to digital product manuals for existing products.
Move to digital only packing lists (not paper based) from our main logistics warehouse
GOALS AND ACHIEVEMENTS
ACCESS For all
OUR 2024 GOALS
Team members have the skills to improve business sustainability
KEY ACTIONS PLANNED
HOW DID WE DO?
Training for Research and Development, Product Management, Supply Chain and Leadership in sustainability and sustainable business models
44 people across cross functional teams (approx. 23% of employees) undertook over 400 hours of training on sustainable business topics
Established group of 20 Sustainability Champions across functions and locations. Strong engagement and action driven
2025 GOALS AND MEASURES
Sustainability included in training for all new joiners to Raymarine.
Each team member to complete at least 8 hours of work related training
Refresh and reinstate annual Employee Engagement survey. Present back learnings and proposals to senior team, and ensure actions are implemented
Review how our software functionality can help users in more sustainable boating.
User experience team to engage with customers and market
Include in updated New Product Development process and software updates
User Experience and Product Management teams discussed with a variety of key customers. Learning achieved regarding what would be most useful. Need to put into action in 2025
Use the EcoVadis model to continue to improve our ESG performance
Action to implement key recommendations from previous EcoVadis assessment
EcoVadis score increased from 64 to 68. Silver medal maintained, despite significant scope increase in questions.
Particularly strong improvement in Sustainable Procurement score
Partner with customers to deliver initial work on next generation software which enables more sustainable boating
Community engagement - Implement at least one placement, project or apprenticeship with relevant local colleges and university courses.
Target a further 5 point improvement in EcoVadis score
This requires documenting processes already in place and improving on our reporting and learning cycle
Benchmark our processes to the International Standards Organisation's Environmental Management Systems requirements (ISO14001)
WHAT IS ECOVADIS?
EcoVadis is a globally recognised assessment platform that rates businesses’ sustainability based on four key categories: environmental impact, labour and human rights standards, ethics, and procurement practices.
EcoVadis offers a collaborative platform where companies can assess, monitor, and improve their sustainability performance. By using this, Raymarine can drive continuous improvement in our sustainability efforts and, ensure transparency and accountability in our operations.
Why isn't there a 2024 EcoVadis 'medal' ?
We submitted our reassessment information to EcoVadis in December 2024. Each submission needs to be assessed and verified by EcoVadis. Our score was issued when this was completed in January 2025. This is the date that EcoVadis use on the scorecard.
ECOVADIS
EcoVadis provides us with an external assessment of our sustainability efforts across the headings of Environment
Labour and Human Rights
Ethics
Sustainable Procurement
The EcoVadis methodology reviews Policies, Measures taken, and Reporting, in order to ensure that all aspects of sustainability are embedded throughout the organisation, its team and ways of working.
EcoVadis’ policy is to continue to raise the bar in sustainability by awarding medals based on how a company’s score ranks within other rated businesses rather than on the absolute score. In our second annual assessment we were pleased to see an increased score from 64 to 68, and we maintained our Silver medal by retaining our position in the top 15% of all rated companies
We continue to use EcoVadis as a guide to identify and put in place actions which will further improve our sustainability.
ENVIRONMENT
ENVIRONMENT
GREEN HOUSE GAS (GHG) REDUCTION
Energy consumption and Green House Gas emissions are Key Sustainability Issues in our business sector (see EcoVadis)
Scope 1 and 2 emissions have been an initial focus as they are predominantly within our control.
We have achieved a 48% reduction in emissions compared to our 2019 base year by the following initiatives
• Solar panels at our Fareham office
• Engaging staff in energy reduction actions
• Encouraging the use of electric vehicles by the provision of chargers at the Fareham office
• Changes to heating, cooling and lighting
OUR SOLAR POWER GENERATION
Two phases of solar panels have been installed at our Fareham UK head office (September 2023 and March 2024). During 2024 they generated over 126 MWh of electricity which was 14% of our total electricity usage at Fareham. By producing our own clean energy we also avoided over 26 tonnes of CO2 emissions if this power had come from the UK grid.
We recognise that the vast majority of our emissions will be in Scope 3. We measured these using the Normative platform and they were calculated at over 99% of our total emissions ( across Scopes 1,2,and 3). This is consistent with our industry.
We are now engaging with our suppliers, setting Scope 3 reduction targets and considering the emissions of our products through their lifecycle as new products are developed
from our own solar panels as a % of total electricity we used
SCOPE 1 AND 2 EMISSIONS
We have made significant steps forwards in reducing our Scope 1 and 2 emissions. Key achievements include:
Reducing energy consumption (electricity from grid and motor fuel) by 33% versus our 2019 base year.
Scope 1 and 2 emissions reduced by 48% versus our 2019 base yearexceeding our 2024 target of a 35% reduction
Purchasing ‘green energy’ - In November 2024 we moved to an electricity supply which is backed by Renewable Energy Guarantees of Origin (REGO certificates). These certify that electricity was generated by Ofgem accredited wind farms, solar fields and / or hydroelectric plants
Total energy consumption (MWh) variance to 2019 base
Total gross emissions (tCO2e) for which SECR reporting required
From Raymarine Ltd UK statutory accounts reporting in accordance with SECR
PRODUCTS: DRIVING SUSTAINABILITY
ONGOING INNOVATION, QUALITY AND RELIABILITY
Since developing the first commercial echo sounder in 1923, innovation has always been at the heart of what we do. Raymarine has built on this foundation including
• The first autopilot system for recreational boats
• The first single-cable installation solution
• The world’s first marine multifunction display
Our product innovation has been recognised by the awarding of over 100 patents
In line with the European Union’s Circular Economy Action Plan (CEAP) and more specifically the Ecodesign for Sustainable Products Regulation (ESPR) we recognise that creating products which are durable and reliable will help reduce the environmental impact over a lifetime of use.
Our New Product Development process is the way we continue to ensure innovation, quality and reliability in our products. During 2024 we updated this process to include product sustainability considerations at each stage of approval.
ECODESIGN FOR SUSTAINABLE PRODUCTS REGULATIONS
ESPR states that:
A sustainable product is likely to display one or more of the following characteristics:
• Uses less energy
• Lasts longer
• Can be easily repaired
• Parts can be easily disassembled and put to further use
• Contains fewer substances of concern
• Can be easily recycled
• Contains more recycled content
• Has a lower carbon and environmental footprint over its life cycle
RISE + RAYMARINE
Raymarine have been working closely with The Research Institutes of Sweden (RISE) who are one of Europe’s largest research and technology organisations. As an independent, State-owned research institute, RISE offers unique expertise, testbeds and demonstration environments for future-proof technologies, products and services
‘Through international collaboration with industry, academia and the public sector, we ensure business competitiveness and contribute to a sustainable society.’
Raymarine is collaborating with RISE as part of the Circular Business Lab and appreciate their guidance as we move to make business more sustainable.
Earlier in the year, Raymarine team members also undertook training in more sustainable product design and the circular economy, learning different strategies and metrics to reduce the impact of the products we make.
FOCUSSING ON PACKAGING
Our precision instruments need to be protected from the point of manufacture to when they are installed, which could be anywhere around the globe. Our primary packaging has always undergone rigorous testing to ensure that products are fully protected from moisture, scratching and dropping during transport. The packaging industry default was often to use plastic - in the form of foam, bags and other components - due to it being both strong and light.
When we set our Sustainability Strategy in 2023 there was strong feedback from all stakeholders that plastic pollution in Oceans and rivers was a key concern. So we set ourselves the challenging target to remove all plastic from our primary packaging.
At the start of the process we audited our packaging –we had over 47000 different items of plastic packaging across our range of products including bags, air cushions, foam, shrink wrap and tape. This amounted to over 2 million items and approximately 30 tonnes of plastic per year.
We have begun the transition to plastic free packaging with those items which contained the most plastic.
DESIGNING PLASTIC FREE
PACKAGING FOR EXISTING PRODUCTS
For our Quantum radar we worked closely with the packaging designers using the Circular Design Metrics model based on a collaboration with the Ellen McArthur Foundation www. ellenmacarthurfoundation.org/
The new packaging for Quantum still protects the product and is also aligned with our sustainability goals. Key Metrics include:
• Carbon footprint reduction of over 60% (4.4kg to 1.7kg)
• Recycled content moved from 40% to 84%
• Now 100% recyclable
Circular Design Metrics
Circular Design Metrics
NEW PRODUCTS
Any New products are now developed with plastic free packaging as the standard. Developments include the Axiom PRO and XL multifunction display screens and our Alpha Instruments. Previous versions of Axiom used approximately 1kg of plastic in each package.
Our plastic free packaging innovation with a key partner won the WorldStar Global packaging award. The previous packaging contained over 50% single use plastic. The award winning new packaging has innovative ‘crumple zones’ to provide protection, is made from 100% recyclable material, and has a 60% lower CO2 footprint per product.
OUTER BOXES
We are transitioning our carboard outer boxes to be made from 100% recycled sources and only printing with black ink directly on the cardboard.
New Quantum radar packaging (exploded view)
WASTE & RECYCLING ELECTRONIC WASTE
Electronic waste is the world’s fastest growing waste stream. In order to ensure our products are durable and reliable, we conduct extensive testing to simulate the harsh conditions our products need to work in. This inevitably produces some electronic waste which is all handled through accredited channels.
We have begun new initiatives to increase digital testing and reduce the number of physical samples required, whilst still focusing on delivering high performance and product durability
We have formalised our product end of life policy to ensure there is a clear statement and process governing how our products and primary packing should be dealt with.
Raymarine is committed to meeting its obligations to the environment, including the regulations related to recycling and disposal of Raymarine product. The Waste Electrical and Electronic Equipment (WEEE) Directive requires the recycling of waste electrical and electronic equipment which contains materials, components and substances that may be hazardous and present a risk to human health and the environment when WEEE is not handled correctly.
Collection points for WEEE are listed on our website and we also offer a product take back service for our business customers.
www.raymarine.com/en-gb/policies/ recycling
OFFICE WASTE AND RECYCLING
Our Sustainability Champions identified waste and recycling as key areas that everyone in Raymarine could have a positive impact on. Working with our facilities team and waste contractor, in September 2024 our Head Office at Fareham UK switched away from personal ‘desk’ bins and to more centralised ‘recycling stations’. We also started to collect food waste separately, and cardboard separately from other ‘dry mixed recycling’
As a result, the amount of waste which was able to be recycled increased by 85% (September – December 2024 compared to the comparable period the previous year).
Sept to Dec 23
Sept to Dec 24
Other waste reduction initiatives across our offices include:
• phasing out single use cutlery, crockery and cups
• encouraging digital rather than paper based systems and communication
• providing advice on energy saving whilst using IT equipment
PEOPLE
ACCESS FOR ALL
We want to ensure ‘Access for All’ to the water. One of our values is ‘nurture our community - its why we are here. Our people, customers and environment rely on us.’
Our main focus areas are:
• Enabling everyone to enjoy the water safely by creating accessible and easy to use products
• Valuing and supporting our ‘Raymarine Crew’ to bring their whole unique contribution to Raymarine.
• Enjoying our success and marine community together.
• Reflecting our stakeholders – a wide variety of people and organisations who enjoy, work or live by the water.
Collaborating across business, charity and education to build a marine community for positive change
SUPPORTING ACCESS TO THE WATER
Wetwheels vision is to "ensure everyone can access the water with a safe, barrier free, enriching experience."
Wetwheels offers a unique opportunity for disabled and disadvantaged people of all ages - including those with multiple, profound and complex impairments - to access the water. Central to the experience is active participation - helping to broaden aspirations, increase confidence and directly impact on health and well being.
Raymarine has donated all the navigational equipment for Wetwheels since they launched their first boat in 2011. There are now 8 boats located around Great Britain, from Jersey to Edinburgh. Each of their expert captains rely on Raymarine equipment to ensure a safe voyage and maximum enjoyment.
wetwheelsfoundation.org
"Raymarine technology has enabled us to enhance our participants' time on the water. They are empowered to take the wheel and appreciate the whole experience, irrespective of their disability."
Geoff Holt MBE DL, Founder, Trustee
Geoff Holt, founder of Wetwheels enabling another wheelchair user to enjoy time on the water.
We are proud to support Marco Rossato, a professional solo sailor and one of the founders of Timonieri Sbandati. From the very beginning, he sought to share the same emotions sailing brings him with other people with disabilities. Over the past twenty years, he has introduced many people to this sport and speaks of the results achieved, recently highlighting the significant increase in the number of female paraplegics and seniors.
Timonieri Sbandati* are a non-profit amateur sports association who believe that even people with mobility disabilities can navigate independently. They have worked to make their boats accessible: ‘to share the joy of being at sea, sailing the waves, and feeling the wind on your face with as many people as possible, in complete safety and comfort.’
*Timonieri Sbandati might best be translated as ‘Leaning Sailors’, a playful nod to both members’ disabilities and the way the boats tilt.
Raymarine ambassador, sailor and author Davide Besana, in conjunction with charity Save the Children, engages with young people who might not otherwise have access to the water.
Raymarine
SELECTING AND DEVELOPING OUR CREW
7 hours of training
OUR RECRUITMENT STRATEGY ENABLES US TO SELECT THE BEST PEOPLE
Raymarine follows the Teledyne FLIR policy, whereby managers are responsible for recruitment within their teams. This improves the candidate experience and tends to provide a faster recruitment process.
We are data driven and adopt a scientific approach and use both ability and personality tests as selection instruments. Interviews are competency based and are adapted to each role. HR supports managers through the process by training and coaching.
By following this strategy we can be more effective and minimise the risk of discrimination or other unintentional bias to ensure that we engage with the best talent for our business
PERSONAL DEVELOPMENT
Our employees have regular reviews and have personal competence goals linked both to the requirements of the business and also to the responsibilities of their role. The responsibility for competence is shared between the employee and their manager.
In addition to person and role specific training, all employees are offered the opportunity to access the Percipio online professional development platform through the learning module in Workday.
The platform offers a blend of self-paced online courses and is available to anyone, anytime.
LEADERSHIP TRAINING
Managers at Raymarine are encouraged to participate in internal leadership training provided in conjunction with Teledyne FLIR. This aims to give Managers short, meaningful, and business relevant sessions to ensure they have the necessary tools, techniques and insights to succeed in their role.
The training is focused on practical concrete support and development from the internal HR team and so is aligned with business and individual needs.
The training consists of 5 sessions:
• Strategic self awareness
• Performance tools
• Recruitment and interview techniques
• Driving change and performance in the team
• Conflict management and difficult conversations
In 2024 the Raymarine UK team completed over 1400 hours of training. In addition to mandatory anti-corruption and ethics training , this included topics as diverse as project management, electronics, export compliance, logistics, procurement, Cyber security, Human Rights and First Aid at work.
44 member of the team undertook training in sustainability.
To remain leaders in such an innovative industry, we constantly monitor that we have the right organisational structure and skills in place. In 2024 over half of the new roles created were filled through the promotion and development of existing team members
Raymarine
SUPPORTING OUR CREW
RAYMARINE IS COMMITTED TO PROVIDING A SAFE AND HEALTHY WORK ENVIRONMENT.
As part of the Teledyne FLIR organisation, all employees are required to follow workplace policies and procedures to ensure a safe work environment, and to report immediately any unsafe working conditions or activities, along with all injuries or accidents that occur in the workplace.
Building on safety strategy training for the executive team, 11 of our managers undertook and passed the Institute of Occupational Safety and Heath (IOSH) ‘Managing Safely’ training course and assessment. This 4 day programme enhances their management skills by equipping them to assess and control workplace risks, identify hazards and investigate incidents and accidents.
HEALTH AND SAFETY REPORTING
We continue to track any RIDDOR* reportable incidents and are achieving our target of less than 1 reportable incident per 100 employees.
Non reportable incidents are investigated and monitored by the Health and Safety commitment to ensure learning and future prevention. Similarly we encourage the reporting and investigation of ‘Near Misses’ in order to avoid them becoming future incidents
Incidents under RIDDOR*
*RIDDOR ( Reporting of Injuries, Diseases and Dangerous Occurrences Regulation 2013 is the UK legislation which Raymarine Fareham reports under.
IN ADDITION TO PHYSICAL SAFETY, WE RECOGNISE THAT INCLUSION, DEVELOPMENT AND EMOTIONAL SAFETY ARE ALSO NECESSARY FOR A GOOD WORKING ENVIRONMENT.
Our team of Mental Health First Aiders were trained in a scheme certified by Mental Health First Aiding England.
They provide a supportive confidential ear to anyone experiencing difficulties in or outside work, and signpost relevant services.
Our Crew have free access to a confidential Employee Assistance Programme Helpline (0800 169 1920) and a health App, both provided by Telus Health.
Raymarine
ENGAGING WITH OUR CREW
Raymarine Works Council brings together a group of nominated individuals to represent employees' interests to the leadership team. It includes consulting and negotiating on working conditions and operational changes
We will reintroduce our annual employee engagement survey to monitor and address employee sentiment, and supporting our aim of fostering a sustainable and supportive workplace environment.
RAYMARINE UK LTD GENDER SPLIT
We monitor the proportion of men and women in the Raymarine UK teams and leadership, and recognise that in line with our industry, our workforce is majority male. We continue to ensure that our policies and actions focus on equality and non bias in recruitment, engagement and promotion.
SUPPORTING OUR COMMUNITY
Supporting our aim of reducing plastic pollution in the water, we partnered with Final Straw Foundation, a local charity with a marine focus.
The weather was not kind for the beach clean at Hill Head, near our Fareham office, but members of the team were well equipped for the elements, and gathered over 11kg of plastic.
SUSTAINABILITY CHAMPIONS
The Sustainability Champions are members of the Raymarine Crew from around the world and across our varied teams and specialisms. They are united by a passion to improve sustainability and have been engaged in action through the year.
They have had a great impact driving change including:
• Work on plastic free packaging
• Energy usage reduction
• Organising the beach clean
• Starting guidelines for sustainable product development
• Driving more sustainable behaviour in our offices
• Producing the sustainability newsletter
• Communicating with suppliers about sustainability
• Investigating ‘lower impact’ materials
Sustainability champions now each have a sustainability objective linked to the business sustainability strategy. Most of the Champions continued with this role into 2025 and the team has to continued to grow
UK
Andrew Smith
Anna MillingtonMarais
Ben Woodling
Brendan Tinkler
Chris Tyler
Dominic Mayo
Gareth Read
Jari Cianchetta
Jo Wilson
James Frankham
Krissy Robson Layla Coleby
Marie Claire
Sothcott
Phil Webb
Rich Mitchell
Yasmin Tahraoui
USA
Brandt Brown
Ron Nennie
Kylie Jacques
Australia
Josh Wilson
France
Kaelig Le Corre
Italy
Giorgia Gandolfini
Giovanni Rovelli
Sydney, Australia
Fareham, UK
Milan, Italy
La Rochelle, France Hudson, New Hampshire USA
Monona, Wisconsin, USA
OUR CUSTOMERS AND THE MARINE COMMUNITY
Our customers range from individual sailors to captains of commercial vessels, and from boat builders to marine emergency services. We all recognise water is a fundamental resource for both marine ecosystems and human activity.
We collaborate with our customers to understand their requirements and support their activities on the water in ways which also align with our commitment to the UN Sustainable Development Goals. We also
provide training and support for customers to ensure that they are equipped with the knowledge to enhance their voyage and safety using Raymarine equipment
Customers are increasingly asking about our commitment to sustainability and the actions we are taking. We are pleased to share our sustainability strategy and use our EcoVadis certification as the main way to set out our commitment, policies and actions across all aspects of sustainability.
GOVERNANCE
GOVERNANCE
GOVERNANCE AND ETHICS
Raymarine is part of the Teledyne group of companies and follows all Teledyne policies with regards to governance, ethics and trade compliance.
EXTRACT FROM OUR GLOBAL CODE OF ETHICAL BUSINESS CONDUCT: INTERNATIONAL TRADE COMPLIANCE
With facilities in the United States and around the world, the Company is a global entity that deals regularly with companies, customers and suppliers in many countries.
It is the responsibility of every employee to understand and follow all local laws regulating commerce in each country in which he or she may be involved in Teledyne business.
The conduct of our business also involves significant volumes of exports and imports.
Teledyne requires its employees to understand and comply with all applicable trade laws and regulations and Teledyne’s policies on international trade compliance.
Teledyne employees involved in international trade are responsible for ensuring that they and the Company:
• Follow all applicable local laws regulating commerce
• Follow all applicable laws regarding international trade
• Follow all Teledyne policies and procedures related to export and import controls
• Obtain all required export and import licenses
• Obtain all required certificates of origin
• Maintain required documentation regarding international trade transactions in a manner that accurately and completely represents each transaction
• Do not export to any country or person when such exports are prohibited by applicable law
• Use screening processes to ensure adherence to laws related to prohibited country or prohibited person transactions
• Do not engage in or support boycotts of any person, group or country in violation of applicable anti boycott laws.
Although the laws, regulations, procedures and processes may vary depending on where we do business, we must apply the same rigorous approach to reviewing international transactions in all our locations and with all levels of government in all countries.
The foregoing list of compliance matters is not comprehensive, and Teledyne employees involved in the export or import of goods must familiarize themselves with the applicable laws, regulations and Teledyne policies. The laws and rules that apply are complicated and depend on many factors, including the products or technology involved, the location of the relevant Teledyne company and the location of the party receiving the products or technology. More information about international trade compliance laws is included in the policies available on Teledyne’s Intranet. Any employee who has questions regarding the international trade laws should seek guidance from the designated international trade compliance personnel for that employee’s facility, the Teledyne Corporate International Trade
97%
Raymarine UK Employees
ETHICAL BUSINESS PRACTICES
We follow Teledyne’s anti-corruption procedures and are trained in the Global Code of Ethical Business Conduct
TELEDYNE’S LEGAL DEPARTMENT OUTLINES OUR ANTI-CORRUPTION WORK:
Teledyne Technologies Incorporated and its affiliates (“Teledyne”) conduct business all over the world.
Teledyne Global Code of Ethical Business Conduct Training % completed in 2024
96% in 2023
As such, Teledyne is subject to legal requirements in various jurisdictions. Teledyne is committed to acting with integrity and conducting business according to the highest levels of ethical conduct and compliance with laws. Our products are offered to both government and commercial customers, and are selected based on quality, functionality, operability, and price. We do not seek any improper influences while conducting our business and expect the same standards from partners operating on our behalf. Teledyne has established certain policies and procedures to ensure these compliance standards are maintained, both internally, as well as with our partners.
As a company headquartered in the United States, Teledyne is obligated to remain compliant with the U.S. Foreign Corrupt Practices Act (FCPA). In addition to the FCPA, Teledyne’s operations require compliance with the UK Bribery Act as well as other local anticorruption laws and statutes (together, “AntiCorruption Laws”).
All of our employees are expected to abide by Anti-Corruption Laws. By conducting business with Teledyne, our partners are also required to be familiar with, and adhere to, the requirements of the FCPA as well as any other applicable AntiCorruption Laws.
Teledyne has established compliance policies to assist our employees and partners adhere to Anti-Corruption Laws.
Applicable policies include the Teledyne Global Code of Ethical Business Conduct, the Gifts, Entertainment and Hospitality Policy, the Teledyne Anti-Corruption Statement, the International Third-Party Engagement Policy, and the Travel Hosting Guidelines Policy.
In addition, Teledyne undertakes a review of our partners to determine the capabilities of such partner to properly represent Teledyne in accordance with our standards and requirements. Part of these efforts involves a diligence review of our partners in advance of any business relationship. Teledyne also undertakes periodic diligence updates of our partners throughout the term of the relationship.
EXTRACT FROM OUR GLOBAL CODE OF ETHICAL BUSINESS CONDUCT:
ANTI-CORRUPTION
Teledyne has zero tolerance for any form of corruption, such as bribery, kickbacks, extortion or similar conduct, whether it involves government officials or private parties and whether it occurs inside or outside the United States.
All Teledyne employees and others who act on behalf of Teledyne are strictly prohibited from engaging in such conduct. No Teledyne employee or representative will suffer adverse consequences for refusing to pay or receive bribes or engage in other forms of corruption, even if such refusal may result in Teledyne losing business. No one acting on Teledyne’s behalf should ever pay a bribe or otherwise sacrifice compliance with the law to make a sale or achieve any other business gain.
Teledyne employees are responsible for understanding and complying with all applicable laws, regulations and Teledyne policies regarding anticorruption. Those laws and regulations include, but are not limited to, the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, Canada’s Corruption of Foreign Public Officials Act and Chinese anti-corruption laws.
TELEDYNE HAS RISK MANAGEMENT OVERSIGHT OF RAYMARINE
The risk oversight function of the Board of Directors is carried out by both the Board and the Audit Committee. As provided in its charter, the Audit Committee meets periodically with management to discuss the Company’s major financial and operating risk exposures and the steps, guidelines and policies taken or implemented relating to risk assessment and risk management. Matters of strategic risk are considered by the Board as a whole. At each regularly scheduled meeting of the Audit Committee, our Vice President, Business Risk Assurance reports directly to the Audit Committee on the activities of the Company’s internal audit function.
Management also reports to the Audit Committee on legal, finance, accounting and compliance matters at least quarterly and on tax, pension and information technology and cyber security matters periodically.
The Board is provided with reports on legal matters at periodically scheduled meetings and on other matters related to risk oversight on an as needed basis. In addition, the Audit Committee reviews with management the “risk factors” that appear in our Annual Report on Form 10-K prior to its filing.
We have an Enterprise Risk Management Committee, consisting of executive officers and other employees, to identify significant company risks and determine whether we have appropriate risk management policies, practices and procedures in place. Our Senior Vice President and Treasurer, periodically reports to the Audit Committee and the Board of Directors on the progress and results of the actions taken by this committee.
RAYMARINE UK IS A MEMBER OF
THE FOLLOWING ORGANISATIONS
Britsh Marine Organisation BMO
Comite International Radio-Marine (CIRM) - the International Association for Marine Electronics Companies
BUSINESS CERTIFICATIONS
Raymarine UK is certified under the International Standards Organisation ISO9001: 2015 Quality Management Systems
OUR SUPPLIERS
Raymarine works closely with a number of expert manufacturers to ensure our designs are manufactured to the high quality we expect.
Our suppliers are reviewed carefully before we embark on any business relationship. They must also sign and comply with the Teledyne Code of Conduct for Service Providers, which is based on the Fair Labor Association Workplace Code of Conduct, and the Electronic Industry Citizenship Coalition Code of Conduct. This is to ensure, as far as is possible, that suppliers provide their employees with decent and humane working conditions
OUR SUPPLIER GOALS FOR 2025
• All key suppliers sign up to our Sustainable Procurement policy
• Continue to engage key suppliers in GHG reduction discussions
We are targetting
Target reductions in Scope 3.1 (purchased goods and services) emissions 'intensity' adjusted for value:
• 5% by end of 2025
• 35% by end of 2030
EXTRACT FROM THE TELEDYNE CODE OF CONDUCT FOR SERVICE PROVIDERS
Teledyne expects its Service Providers, regard- less of location, to adhere to the same work- force policy standards that Teledyne follows. Specifically, Service Providers are required to follow and periodically reconfirm their agreement to abide by these standards:
• Compliance with Laws and Regulations and Contracts: Every Service Provider must comply with all laws and regulations that apply to that Service Provider, its employees and its business activities (“applicable laws and regulations”). Teledyne Service Providers must comply with all terms, conditions, and other provisions specified in their contracts with Teledyne.
The Teledyne Code of Conduct for Service Providers also outlines the requirements we place on our suppliers/service providers, in the following areas among others:
• No Forced Labor, Child Labor, Slavery or Human Trafficking: Service Providers shall
not engage in, facilitate or use forced or involuntary labor or child labor. Service Providers shall not engage in or facilitate slavery or human trafficking and should assess their supply chains to ensure they are in compliance with this requirement.
• Safe Work Environment: Service Providers shall maintain a safe and sanitary workplace that includes appropriate protective equipment, and is in compliance with applicable environmental, health and safety laws, rules and regulations.
• Safe Work Environment: Service Providers shall maintain a safe and sanitary workplace that includes appropriate protective equipment, and is in compliance with applica.
• Cybersecurity: Each Service Provider must have adequate cybersecurity controls to prevent and identify potential cyber attacks on its network that could expose Teledyne and its customers’ confidential information. We expect our Service Providers to notify us if they believe Teledyne information has been compromised in a cyber attack on their systems.
Raymarine
Our products are transported efficiently and safely to customers in over 90 different countries
Raymarine has a global customer base with Sales Offices, Distributors and Dealers around the world. We work with experienced logistics partners who ensure that products are transported efficiently and safely to our customers in over 90 different countries.
Our main logistics hub is fully solar powered. We are able to provide high levels of delivery accuracy to our customers due to technology and robot enabled storage, picking and packing processes
The key environmental aspects relating to our logistics supply chain are waste and recycling, and the GHG emissions associated with transportation.
Building on the transition to using recycled paper rather than plastic 'padding' to protect our product boxes, we worked with our main European logistics hub provider to use paper envelopes rather than boxes for our smallest despatches. This reduced both the materials used and the carbon emissions associated with transportation.
We began 2 other projects which also aim to improve these key environmental aspects
• Move to digital rather than paper based packing lists
• Customer option to not have 'outer packaging' when buying a system of several parts
These are being trialled in 2025
