25 Oct 2023
by Karen Tuffs FCICM (Grad)

Exclusive CICMQ Best Practice Event with Aggregate Industries: Unveiling Sustainable Building Solutions and the Power of Credit Management

The latest CICMQ Best Practice Event, meticulously organised and hosted by Aggregate Industries, provided a unique platform for in-depth discussions on two distinct yet equally essential topics. We delved into the fascinating realm of sustainable building solutions, before exploring the powerful landscape of sourcing essential data with in-depth insights.

Sustainability, Innovation, and Inclusion

Aggregate Industries, a prominent member of the Holcim Group, is spearheading the UK's building solutions industry with an unwavering vision of sustainability, innovation, and inclusivity. They are on a journey towards sustainability and inclusivity. Their efforts to reduce their carbon footprint, make informed credit decisions, and create an inclusive work environment are integral to their vision of becoming a UK leader in innovative and sustainable building solutions. Kirstin McCarthy, the Sustainability Director at Aggregate Industries, kicked off the event by shedding light on their mission to become a UK leader in innovative and sustainable building solutions. Their vision transcends a commitment to a greener and more sustainable future, and their partnership with the Holcim Group offers extensive support.

Kirstin McCarthy elaborated on Aggregate Industries' relentless pursuit of reducing their carbon footprint, notably achieving 2050 net-zero targets validated by the Science Based Targets initiative (SBTi). With a global workforce of 60,000 people and a presence in 70 countries worldwide, Holcim Group is firmly committed to building progress on a global scale. The company places a strong emphasis on comprehending and mitigating its environmental impact. This includes an in-depth examination of emissions from various sources, encompassing Scope 1 (direct from burning fuels), Scope 2 (indirect from purchased electricity for own use), and Scope 3 (indirect from production of purchased materials) emissions. Their efforts extend to reducing emissions linked to purchased electricity, materials production, office equipment, and more.

How Aggregate Industries are transitioning to net-zero

Transitioning to a net-zero carbon footprint is a significant priority for Aggregate Industries. Their strategy involves shifting from high-carbon to low-carbon energy sources, enhancing energy efficiency, adopting renewable energy, biofuels, hydrogen, and alternative materials. Carbon capture is an integral component of their approach. Aggregate Industries is also committed to assessing and improving the carbon footprint of its products, aligning them with sustainability goals. To aid this, they have introduced an innovative automated carbon reporting tool, offering customers essential data. This tool provides customers with valuable insights into the carbon footprint of products, enabling more informed and sustainable choices.

Inclusivity in the workplace

Hazel Mooney, HR Business Manager at Aggregate Industries, discussed the company's commitment to Equality, Diversity, and Inclusion (EDI). She highlighted the benefits of fostering an inclusive workplace, including improved safety, innovation, productivity, and employee engagement. Aggregate Industries has developed a five-point strategic plan that focuses on fairness, respect, equality, diversity, and inclusion, leading to greater engagement and participation from colleagues.

Headed by Phil Rice, the Aggregate Industries Credit Team plays a crucial role in managing credit accounts, collecting overdue debt, and working closely with commercial teams and customers. They work to maintain and create customer relationships, reduce the monthly DSO, and manage insolvencies. The team's achievements include CICMQ Accreditation, fundraising for charity, and recognition within the Holcim Group. Phil Rice shared his insights from 50 years in the credit industry. He offered five invaluable top tips for success in credit management, drawing from his extensive experience in the field, the main point being to foster personal connections with every client you come into contact with as this allows you to leverage your understanding of the individual and grow your partnership with them.

The importance of Data Sourcing in Credit Management

Dan Hancocks, the Managing Director of CoCredo provided invaluable insights into the essential role they play in managing credit accounts, collecting overdue debt, and collaborating closely with commercial teams and customers. He went on to underscore the critical role of sourcing essential data in credit assessments. He stressed the importance of diversifying data sources and utilising a comprehensive set of tools to assess a company's creditworthiness. These sources encompass credit reports, open banking data, ownership and linkage details, ESG data, and more. Access to the right data empowers companies to make informed decisions and mitigate risks. The team at CoCredo diligently maintains and establishes customer relationships, reduces the monthly DSO, and handles insolvencies. Their achievements are remarkable, including their CICMQ Accreditation, philanthropic endeavours, and recognition within the Holcim Group.

In conclusion, the CICMQ Best Practice Event was a thought-provoking exploration of two paramount topics: sustainable building solutions and credit management excellence. It highlighted the profound commitment of Aggregate Industries to build progress and underscored the pivotal role of CoCredo in promoting best practices and driving innovation in credit management. The event serves as a testament to the power of informed decisions and the unwavering dedication of these industry leaders to shape a better future.