The UK high-performance automotive and motorsport transmission technology specialist, Xtrac, has achieved three more important accreditations over the past 12 months.
They include attaining the Environment, Social and Governance ESGMark, setting emissions reduction goals through the Science Based Targets initiative (SBTi), and recognition as a Real Living Wage Employer.
“Xtrac has a longstanding commitment to ESG matters with employee wellness at the heart of its operations, as measured by our high levels of staff retention,” said chief executive Adrian Moore. “Looking after our employees helps us look after our worldwide customers and other stakeholders, ensuring that we remain at the pinnacle of our industry as it transitions from internal combustion engines to hybrid and electric vehicles. It also ensures that we maintain our exports of around 70% annually to Australia, Asia, Europe, and the Americas.”
Xtrac continues to develop its ESG strategy, which was recently underpinned by the UN’s sustainable development goals. The company’s 2022 milestones include accreditation by the SBTi for a commitment to reduce greenhouse gas emissions by 42% by 2030. Other achievements include introducing certifiable renewable electricity for its engineering and manufacturing headquarters in Berkshire and opening the Xtrac Academy.
With the opening of the academy, Xtrac has invested in the company’s future by providing structured training for innovative future leaders of the business.
“Xtrac is committed to pursuing an ESG agenda dedicated to the environment, social and governance improvements that engender a sustainable future,” said the company’s head of finance Neil Johnston. “Employee engagement is fundamental to providing an inclusive, diverse and safe work environment with strong links to our local communities in the UK and USA guided by ethical governance.”
Mr Johnston, who joined Xtrac in early 2022, has been intrinsic in ensuring the company’s ESG strategy is forward-focused and that its finance team applies the correct governance.
The Living Wage Foundation provided Xtrac’s third significant accreditation last year, following his commitment to every company employee receiving at least a minimum wage significantly higher than the UK government’s prescribed minimum.
“It will benefit our apprentices and hourly paid employees,” said Mr Johnston. “Our highly qualified technicians and professional engineers are also paid well above the average median salary. It’s not just about the remuneration, but the total package of benefits, including the personal development available for all staff that helps us attract and retain the best talent in the automotive and motorsport industry.”