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Mips AB (Mips) -0.98 SEK (-0.25%)
Last updated 26 March 2025, 04:51 CET
Mips is a global leader in its field and aims to be at the forefront of its industry when it comes to sustainability. The company is determined to fulfil the expectations of its stakeholders and lead the way in this important field. This is what enables Mips to continue to grow profitably and sustainably.
Mips has committed to the Science Based Targets initiative to reduce emissions to limit global warming to 1.5 degrees Celsius, in line with the Paris Agreement. This means that Mips’ goal is to reduce its total emissions by 42 percent by the end of 2030, based on a base year of 2021.
Mips’ has committed itself, and indirectly also its manufacturing partners, to adhere to the ten principles of the UN Global Compact. Long term target 2030: Reach an average supplier social audit score of 90 (out of 100) with our manufacturing suppliers.
Mips uses post industrial recycled plastic in its solutions but the ambition is however to create solutions that are more sustainable and support the climate transition. Long term target 2030: Reach 90 percent recycled material usage in total solutions sold.
Follow-up of the ten principles of the UN Global Compact and the UN’s Sustainable Development Goals within Mips’ value chain.
Mips obtained the highest grade, AAA, in the internationally renowned ESG index MSCI.
Mips is a gender-balanced workplace with a goal of gender share between 40 and 60 percent. The figure for 2024 for all employees was 48/52 percent women/men.
Reduced emissions per solution by an average of 18 percent since previous year.
Carried out third-party audits of five strategically important suppliers in the supply chain.
Percentage of recycled materials in Mips´ sold solutions increased by 16 percent in 2024.
Daring means being brave, innovative, and challenging the status quo. We are curious about trying new solutions and are not afraid to make mistakes or ask for help. We challenge ourself and others to achieve Mips’ vision.
Caring involves creating a sustainable environment where people can perform. We show our colleagues respect. In our desire to achieve the highest quality, we take responsibility for our own wellbeing.
Sharing is about creating transparency, a sense of belonging, and trust. We continuously share our experiences and knowledge with our colleagues. We support collaboration across functional areas.
In 2024, Mips has continued the ambitious journey towards a more sustainable future with a clear goal, governance model, and motivated organization.
Mips has achieved all three of the main sustainability targets set for 2024. The company has reduced its greenhouse gas emissions per solution sold by an average of 18 percent compared to last year. Mips´thus exceeded its target for 2024, which was to reduce emissions per solution sold by an average of 8 percent. Mips has carried out third-party audits of five of the company´s strategically important suppliers, which is in line with the target for the year. The proportion of recycled material used in Mips´solutions increased by 16 percent this year compared to last year. Mips has thus achieved this year´s target to increase the proportion of recycled material by at least 10 percent.
Science based targets
Reduced emissions per solution sold
UN Global Compact
Third-party audits performed
Circular product offering
Higher proportion of recycled materials
Mips constantly strives to limit its negative climate impact. The dominant part of Mips´greenhouse gas emissions is related to raw materials and energy consumption in the manufacturing of Mips´solutions in the supply chain. Mips focuses its climate efforts on these areas and has set a target to reduce greenhouse gas emissions by 90% per sold solution from 2021 to the end of 2030. In 2024 Mips reached 43 percent reduction per sold solution compared to 2021, which corresponds to 18 percent reduction per solution sold compared to 2023.
Total emissions 2024
| Emissions per category | ||
|---|---|---|
| Raw material | 44.4% | |
| Electricity suppliers | 36.7% | |
| Other, manufacturing suppliers | 7.1% | |
| Freight transport | 5.3% | |
| Business travel and commuting | 4.4% | |
| Electricity, own operations in China | 1.0% | |
| Other, Scope 3 | 0.8% | |
| Waste, own operations | 0.2% | |
| Electricity and district heating, own operations in Sweden | 0.1% |
Mips actively collaborates with its partners in the value chain to jointly achieve continuous improvements in the areas of resource use and circular economy. Together with its suppliers, Mips is working to increase the proportion of recycled materials and reduce waste. Mips long-term target in this area is to achieve 90 percent recycled material in sold solutions by 2030. In 2024 Mips reached 34 percent recycled material, which corresponds to an increase of 16 percent compared to 2023.
Part of Mips´vision is to use Mips´technology so that helmets in all categories protect users better than current test standards promote.
Mips is a pioneer in this important field, so it is vital that the company can attract and retain employees with the right skills and passion to always make safer and better solutions. Even though Mips is the world leader in its field, Mips´people are modest and curious, with a desire to learn more. Mips´employees constantly challenges themselves and the company encouranges all employees to bring the best of themselves to work every day.
Mips does not conduct any of its own production and instead uses external suppliers for product manufacturing. Mips has committed to adhere to the UN Global Compact and its ten principles on human rights, labor, the environment and anti-corruption. These ten principles are incorporated in Mips´Code of Conduct for Suppliers. To ensure that Mips´suppliers adhere to Mips´Code of Conduct, Mips audits manufacturing suppliers at least every other year. In 2024 Mips engaged an independent third-party to audit five strategically important suppliers.
Sustainable societal development is extremely important for us, we believe that our technology and products lead to a more sustainable society since they are designed to improve helmet protection for both recreational and professional use. Improved helmet protection leads to increased safety and security while reducing risk for both short-term and long-term sick leave, as well as permanent injury.
Mips´business activities are characterized by responsibility and a long-term perspective. Stakeholders must be able to trust that Mips fulfills its promises throughout the entire business process. This is how Mips builds trust with customers, employees, suppliers, and other important partners. Mips´risk analysis forms the basis of the priorities and key areas the company has focused on to ensure business is conducted responsibly.