The AVK Group Sustainability Report 2022/2023
Our global presence requires high ethical standards throughout our organisation and in all our actions. We want to be a responsible and credible company with the ability to balance economic, environmental, and social matters. 12-02-2024
I am pleased to present our sustainability report for the financial year 2022/23.
Good results despite the global market challenges
During the past year, the global economy has been affected by several factors, including the impact of the Covid-19 pandemic and the subsequent crisis in global supply chains. These factors have been further influenced by the geopolitical conflicts, which have had a significant impact on the finances of many projects. Supply chains have stabilised, but subsequent inflation and higher interest rates have had a negative impact on investment in most markets.
At the same time, we are seeing increased protectionism, with trade barriers requiring local supply chains. To meet these demands, we continue to invest in local production and supply chains, and as a result have a strong presence in key markets.
Despite these challenges, the AVK Group has achieved a good result, which will contribute to securing our future development with a focus on long-term and sustainable investments for the benefit of the company, our employees, customers, and the environment.
Our values and purpose
AVK was founded in 1941 by Aage Valdemar Kjær and is based on the core values of quality, innovation, reliability, sustainability, and customer service. Sustainable development is thus one of the cornerstones that set the direction for our way of doing business.
AVK's purpose is to develop, produce and market high-quality, long-lasting products that are part of vital infrastructure, including water supply, wastewater management and energy supply, as well as a wide range of industrial applications. Together, these products contribute to sustainable development, human health, and a better environment.
Focus on innovation and sustainable development
We are a global Group consisting of several companies operating within three business units: AVK Water, AVK Industrial and AVK Advanced Manufacturing. Our companies provide solutions for a wide range of areas, and in this report, you can read about how we have developed several innovative products and solutions in recent years.
The products help ensure sustainable development, including our PREMIUM 100 valve, Smart Water solutions, products for intelligent irrigation, valves for responsible wastewater management and production of geothermal heat, as well as the development of products that contain a high amount of recycled plastic.
In addition to investments in product development and new business areas, we focus on continuously optimising processes and reducing environmental and climate impact.
For example, we have invested heavily in automation in several production units, which ensures stable production with a high level of quality as well as optimised work processes and productivity.
We have a strong focus on our environmental and climate efforts, and we have launched an initiative in relation to Life Cycle Assessment (LCA) and Environmental Product Declaration (EPD) to create accurate calculations of CO2e emissions throughout the value chain for a given product. This year we have achieved our first certified EPD.
We are working focused to minimise energy consumption and at the same time increase the proportion of green energy sources, among other things through investments in solar panels and low-energy solutions, as well as phasing out cars using fossil fuels. In addition, we focus on waste management and the use of recycled materials in the manufacture of new quality products.
Diversity as a strength
The AVK Group has companies in many different countries, and our employees therefore have many nationalities and backgrounds. We respect the differences of our employees and consider diversity to be a strength in our local anchoring and global development. The fact that we work across geographical and cultural boundaries helps to create an interesting and evolving working environment. AVK wants to be a healthy, professionally challenging, and safe place to work, which also means that we work in a structured way to reduce the number of work-related accidents.
UN Sustainable Development Goals
AVK works within several business areas that are in the process of an interesting development.
In recent years, there has been an increasing focus on the management of drinking water and wastewater, which has a huge impact on health and quality of life, as well as energy consumption and climate.
Water plays a crucial role in solving many of the underlying problems that have led to the UN Sustainable Development Goals (SDGs). SDG 6 related to clean water and sanitation, and SDG 9 related to infrastructure, sustainable industry, and innovation, are particularly relevant to AVK.
At the same time, we consider SDG 17 related to partnerships for sustainable development, to be crucial for achieving the goals of the other SDGs. We are part of several partnerships across local, national, and international authorities, organisations and companies that focus on SDG 6.
Niels Aage Kjær
Chairman of the Board and owner of the AVK Group
