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Embla Medical

ABOUT THE COMPANY

Founded in 1971, Embla Medical is a leading global provider of mobility solutions. With its headquarters located in Reykjavik, Iceland, Embla Medical oversees numerous brands that have created a vast network worldwide. Some of these brands include Össur, a global prosthetics and bracing provider, FIOR & GENTZ, a neuro orthotics developer, and College Park, a customized prosthetics provider (1). This network of companies has led Embla Medical in producing 2,100 patents and 650 trademarks, significantly strengthening the Orthotic and Prosthetic Industry (1). 


Today, Embla Medical’s shares are listed on the NASDAQ Copenhagen Stock Exchange (2). Through its emphasis on innovation, Embla Medical introduces new products every year to reach its future goals. To support this, in 2023, Össur, a subsidiary of Embla Medical, opened a global innovation center in Reykjavik (3). Additionally, in 2023, Embla Medical’s founder Össur Kristinsson received a Lifetime Achievement Award from the American Orthotic & Prosthetic Association (4). 


As Embla Medical looks to the future, its Growth’27 strategy paves the way for its continued commitment in expanding mobility solutions, specifically in Patient Reach, Innovative Solutions and Orthotic and Prosthetic Value Creation as well as Bracing Simplified (5). With sustainability immersed in the company’s culture and operations, Embla Medical is dedicated to making a positive difference in the environment and communities by fulfilling its mission to improve people's mobility.

Company websiteNasdaq LinkMorningstar factsheet

SUSTAINABILITY

Sustainability is embedded into our strategy and throughout our organization. We apply our core company values, Honesty, Frugality and Courage, in our approach towards sustainability. We show courage in setting ambitious goals but at the same time we are honest about where we stand, acknowledge the challenges we face and what we can improve. We apply frugality by using resources efficiently and minimizing waste in our processes.

We provide products and services that contribute to good health, using responsible production methods and supporting climate action, while being a sponsor for inclusivity and transparency. We believe that sustainable growth is the only way to build a successful and responsible business for the benefit of future generations. With our robust sustainability agenda, we capture our commitment under the theme of Responsible for Tomorrow® (6). 


ESG Commitments

Science Based Targets initiative: We have set near-term (2030) and net-zero (2050) science-based emissions reduction targets and our targets have been validated by the Science Based Targets initiative (SBTi).

UN Global Compact: We joined the UN Global Compact in 2011 and have been embedding a sustainability mindset and initiatives throughout the organization since then.

UN Women's Empowerment Principles: We signed the UN Women‘s Empowerment Principles in May 2014 as part of our commitment to promote gender equality and women's empowerment in the workplace.

UN Sustainable Development Goals: We have committed to the UN Sustainable Development Goals, with particular emphasis on the goals where we can make the most contribution.

Embla Medical has chosen six UN Sustainable Development Goals (SDGs) to contribute to, based on our sustainability commitment.

Our largest impact on society is through innovative products, research activities and expertise in the field of Prosthetics, Bracing & Supports, Neuro Orthotics and the accompanying patient care. We work with individuals, clinicians, and diverse communities around the world to support a better quality of life and to increase the mobility of millions of people.

Consequently, our greatest impact is on Goal 3, Good Health and Well-Being. Additionally, Embla Medical contributes to Goal 5 on Gender Equality, Goal 8 on Decent Work and Economic Growth, Goal 12 on Responsible Consumption and Production, Goal 13 on Climate Action, and Goal 16 on Peace, Justice and Strong Institutions.


Environmental Goals (7)

We take responsibility for our environmental impact and commit to continually improve our environmental performance. We focus our efforts on our operations, our supply chain and our products.

We have set science-based emissions reduction targets, and thereby joined leading companies around the world in setting targets in line with what climate science deems necessary to limit global warming to 1.5°C.  Our near-term (2030) and net-zero (2050) targets have been validated by the Science Based Targets initiative (SBTi).

Our efforts contribute to the UN Sustainable Development Goal 12 on Responsible 

Consumption and Production and Goal 13 on Climate Action.

  • We have set science-based targets and are actively working towards net-zero operations 2050. 
    • Our direct emissions (Scope 1&2) include company facilities and vehicles, and purchased electricity, steam, heating, and cooling for own use. Our science-based target 2030 is to reduce these emissions by 79%, compared to 2019 base year. To meet this target, we will continue to improve energy efficiency in our main facilities, purchase electricity from renewable energy sources, and shift to electric leased cars.
  • We are reducing the environmental impact in our supply chain.
    • Embla Medical operates in 36 countries and the emissions from our value chain constitute 91% of our total base year emissions, with the biggest impact from our purchased goods and services, mainly our purchased raw materials, components, and finished goods. Our near-term Scope 3 science-based target is to reduce absolute emissions by 25% by 2030, compared to 2021 base year. The target includes purchased goods and services, fuel- and energy-related activities, and both upstream and downstream transportation and distribution. We fully recognize and acknowledge the challenge to meet our Scope 3 science-based target as it means rethinking how we design, manufacture, and sell our products and services. The task is to decouple our growth from our emissions.
  • We are reducing the environmental impact of our products and services.
    • At Embla Medical, sustainability is shaping the way we innovate. A significant part of the environmental impact of a product is determined during the design stage. Eco-Design solutions with reduced environmental impact are key to reaching our science-based emissions reduction targets. We are establishing and executing carbon footprint reduction plans to address new and existing products, services, and packaging.


Embla Medical’s 2023 Annual Sustainability report can be found here.

More information about Embla Medical’s sustainability strategy can be found here.

References

(1).  https://www.emblamedical.com/about-us  

(2). https://www.nasdaq.com/european-market-activity/shares/embla?id=CSE68620

(3). https://www.ossur.com/global/about-ossur/newsroom/ossur-opens-new-innovation-center

(4). https://www.emblamedical.com/about-us/newsroom/ossur-kristinsson-receives-aopa-2023-lifetime-achievement

(5). https://www.emblamedical.com/about-us/our-strategy

(6). https://www.emblamedical.com/sustainability

(7). https://www.emblamedical.com/sustainability/our-environment

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