Achievements in 2022
In 2022, a large number of sustainability initiatives were implemented throughout the Group. Many of our employees have contributed to making Comet more sustainable. Whether through ideas, the implementation of their own initiatives, or in projects to which they have contributed their enthusiasm for the topic, their skills and their knowledge. For this, Comet’s management would like to express its gratitude to our colleagues. We want to encourage everyone to continue to play an active role in shaping our future.
To protect the environment and the interests of society, the Comet Group must focus on sustainability in all its activities and implement and comply with appropriate environmental standards.
The thoughtful use of energy and resources, the development of renewable energy sources, and a constant increase in efficiency throughout the entire value chain – with a focus on suppliers and production – together lead to a reduction in our emissions. Systematic data collection will form the basis for refining and detailing the climate action roadmap, which is part of our objectives for fiscal year 2023.
As a manufacturing company, we depend on a reliable supply of energy and raw materials. Wherever possible, we procure electricity from renewable sources such as hydropower, solar or wind energy. When purchasing raw materials, we work with suppliers who can provide us with information about the origin of their products and who are interested in long-term business relationships. At our own production sites around the world, we are always working to keep our processes and facilities up to date in order to continuously improve production efficiency and thus reduce material and energy consumption.
Achievements in 2022
Renewable energy, energy efficiency and lower carbon emissions
- The optimization of the heat pump in Flamatt, Switzerland, reduced heating oil consumption by 10,000 liters; various measures to replace or optimize outdoor and indoor lighting lowered electricity consumption by more than 4,000 kWh.
- As the largest consumer of electricity within Comet Technologies USA, the San Jose site has switched to 100% renewable electricity. Work is being done to convert other locations to using only renewable power.
- Various energy-saving measures at Comet in China resulted in power savings of 10%, e.g., by training employees to save electricity, switching off the air conditioning system and installing high-speed roll-up doors in the warehouse.
- Energy conservation initiatives in Denmark led to an overall reduction of 6% in electricity consumption at the site.
- Bike-to-work initiative: 11 teams with a total of 41 participants biked 19,534 km in June/July 2022, saving 2,813 kg of CO2 emissions in Switzerland.
Material efficiency and waste reduction
Multiple actions were taken to reduce environmental impacts immediately:
- Monitoring of substances on 270 safety data sheets for Substances of Very High Concern (SVHC) resulted in the elimination or substitution of 10 of the 13 substances identified at IXM.
- Nearly 3 metric tons of solid waste were treated by a contracted local certified provider in Shanghai, China.
- Comet Technologies USA has enhanced its waste program to reduce, recycle, and reuse. In addition, the recycling program has expanded to include paper, e-waste, chemicals, and metal, with dedicated collection areas within the new building.
- Recycling of cardboard boxes and scrap screws led to a tripling of recycled materials in Malaysia.
- In Denmark, waste separation for all employees was introduced in their offices.
- A three-hour Climate Fresk Workshop was conducted for some employees in Switzerland, deepening the knowledge about the roots and consequences of climate change.
- In Malaysia, employees were trained in the conservation of natural resources and the prevention of pollution.
- Comet Technologies Japan conducted training for employees on the Sustainable Development Goals (SDG) by a certified instructor to deepen the understanding of their importance.
- Comet received a C rating for the first-time submission of its CDP Climate Change disclosure, on par with the Electrical & Electronic Equipment industry average of C.
- Comet ranks in the top one-third of the MSCI ACWI Index constituents in the Electronic Equipment, Instruments & Components industry, after being upgraded by MSCI from BB to A.
- Comet has applied to become part of an initiative in Switzerland related to setting up a national reserve power plant network consisting of emergency power generators. (Link)
- An initiative launched by employees in Switzerland collected 75 ideas on how to tackle climate change at the company. Some of these ideas are already being implemented.
Our employees are connected by a passion for technology, a strong corporate culture, and a commitment to our shared values. This is the basis for our success.
As a corporate citizen, we are aware of our responsibility in a world with ever more people and limited resources. Qualified employees with a high level of commitment are central to our past and future success. That is why we invest in a corporate culture that is based on customer orientation, on empowering people and on trustful collaboration in all that we do.
Through our continual efforts, we create value for our employees, our customers, and our communities worldwide. Our employees benefit from progressive working conditions, a well-managed occupational health and safety program and a culture based on trust. This creates the foundation for superior performance and thus a high level of customer satisfaction and loyalty, in many cases extending over years. Finally, and importantly, we honor our social responsibility by supporting community projects and privately funded initiatives.
- Comet gave CHF 100,000 to UNICEF in emergency aid for families in need in Ukraine.
- The 2022 year-end campaign Connected Hearts generated CHF 8,912 for UNICEF Giga, the initiative to connect every school to the Internet and every young person to information, opportunity, and choice.
- Schools on Wheels for children in Bihar, India, was supported by participating in the 2020/2021 UNICEF year-end campaigns (Link)
- Comet in Malaysia was also very active. A considerable number of employees donated blood to Penang's blood bank, and the site held a plogging event (a combination of jogging and picking up litter) with the participation of 21 employees, including six visiting colleagues from the USA.
- Comet Yxlon employees auctioned off old company PCs, collecting EUR 3,000 for digitalization projects at the Erich-Kästner-School in Hamburg.
- In Japan, Comet donated sanitary products to women in need in Yokohama City, teaming up with the Yokohama Gender Equality Promotion Association and Yokohama City Council of Social Welfare.
- Comet Technologies USA held its first multi-divisional fundraiser, collecting nearly USD 3,000 to feed needy people in Northern California served by the charity Second Harvest.
- Our employer brand was sharpened by rebranding Yxlon to Comet Yxlon.
- In the USA the relationship with University of Illinois Urbana-Champaign was continued, sponsoring, among other activities, a masters degree program for a physics major.
- Comet Technologies USA participated in the SEMICON West trade show, sponsoring a workforce development initiative, which identified 34 candidates for internships and/or full-time positions.
- An Up & Beyond Award has been launched to encourage employees' special recognition for their commitment in terms of "a great place to work", corporate culture and teamwork. The recipients are proposed by Comet employees based on an exceptional contribution to a specific project or task. A total of 175 employees were awarded in 2022.
- E-based awareness trainings were launched, starting with the topic “Internet Security and You”.
- The Group expanded its on-demand learning offering in collaboration with getAbstract.
- In China, PCT hosted a Management Style and Leadership Art workshop with 12 leaders from PCT and Central Services.
- Comet welcomed 17 children to its Future Day at the Flamatt site in Switzerland.
Health and safety
- In June, Comet reached a milestone in Flamatt: a total of 1,000 safety-related measures implemented over 15 years to prevent occupational accidents and health-related absences.
- In Malaysia, a road safety awareness program was conducted in collaboration with the relevant government agency to increase motorcycle riders' safety awareness while commuting to work.
- A North America-wide EHS assessment of all locations was performed in the USA. The conclusions of the assessment resulted in the following improvements:
- Lockout/tagout (LOTO) procedures were updated and
- Inventories of compressed gas and chemicals were
updated, resulting in the identification of obsolete
- An improved injury and illness prevention program was
- The safety committee was re-established post-COVID
- Industrial hygiene surveys were conducted at all locations in the USA, including monitoring of noise levels, air quality, and surface contamination analysis.
- Employee health and safety has been a leading focus in the design of Comet's new building in Silicon Valley. Important additional features are incorporated to further protect employees:
- Security alarm system installed throughout the building
- Badge access at all entry points, linked to the alarm
system and building management system
- Security cameras inside and outside the building
with enhanced logic that monitors vehicle traffic,
timestamps badge access points and logs security events
- Security guards are employed to patrol the buildings on
evenings, nights, and weekends.
In everything we do, we are committed to ethical and legally compliant behavior. Every single point of our Code of Conduct is non-negotiable.
The individual behavior of all of us – how we interact with colleagues, customers, suppliers, and all other stakeholders – determines our success as a company. The values and principles of the Code of Conduct developed in 2020 form the foundation of our corporate culture and the basis for all our actions and decisions.
Strict and full compliance with laws, policies and regulatory standards at the local, national, and international level is not just the right thing to do, but an important asset on which our reputation is based. The ethical conduct of all individuals and partner organizations with whom we work also contributes to this. All internal and external stakeholders can rely on us to treat them fairly and ethically at all times.
- Comet Holding AG implemented updated capital market-related policies, introduced a data protection model for the Group, and issued an Intellectual Property Handbook.
- In the USA, Comet further updated its software and programs to ensure business is not being conducted with sanctioned countries or with companies or people that are on the Denied Parties List.
To successfully place our products and services on the market and compete effectively, it is necessary to implement efficient procedures and maintain high quality standards.
We invest a high proportion of our profits in systematic long-term, sustainable growth. Access to sufficient equity and debt capital is ensured by our company’s balanced and conservative financial policy. Operating from this position of financial strength, we have consistently delivered value for our stakeholders over the past decades. Our success story is reflected in high awareness of the Comet brand among customers and competitors.
Thanks to our strong positioning, solid financial footing, secure access to capital and the successful implementation of our focus strategy, we are growing our business. Anticipating customer needs and investing in advance are key in helping customers succeed with our leading-edge technologies. Backed by the Group’s dependable financing, we will continue these activities in the long term and thus add value for all stakeholders.
In 2022, Comet introduced several new products to the market.