Better Health for All

Luceco PLC initiated a recall of 43,500 MasterPlug Travel Plugs manufactured between 2019 and 2023 due to a risk of electric shock, as announced on August 9, 2023.

The company's principal goods and services, LED lighting and wiring accessories, have no significant direct positive or negative health impact.

Fair Pay & Worker Respect

As of April 5, 2024, women at Luceco PLC earned 68p for every £1 that men earned in median hourly pay, indicating women's median hourly pay was 32.4% lower than men's.

The mean hourly pay for women was 35.3% lower than men's. Additionally, women's median bonus pay was 49.4% lower and their mean bonus pay was 60.95% lower than men's. Women were also underrepresented in higher pay brackets, making up 10.8% of the highest paid quarter and 41.5% of the lowest paid quarter.

Honest & Fair Business

Luceco Plc's FY2016 financial statements were restated in FY2017 due to multiple material misstatements related to intercompany transactions/balances and inventory costs/balances.

While Luceco Plc itself received no regulatory fines in the past three years, its auditor, KPMG, and a former director, Stuart Smith, were disciplined by the UK Financial Reporting Council (FRC) in April 2023 for breaches in the FY2016 audit of Luceco. KPMG was fined £875,000 (discounted from £1.25 million), and Mr. Smith was fined £35,000 (discounted from £50,000). Both received a severe reprimand for failures in audit procedures, review, documentation, and professional skepticism. No financial restatements have been reported for Luceco Plc in the past five years, but the historical issues related to the 2016 misstatements were only recently addressed by regulators in 2023. Luceco maintains a global Code of Conduct and zero-tolerance policies for behavior not aligned with its values.

No War, No Weapons

The company's core business is the manufacture and distribution of LED lighting products, wiring accessories, and portable power products, with no evidence of revenue from arms or defense contracts. Its R&D expenditure of £5.1m in 2024 is focused on civilian products like USB-C chargers and a Home Energy Management system, with no indication of dual-use technology development for military applications.

There is also no evidence of exposure to controversial weapons or defense assets requiring divestment. The company states a business principle to support fundamental human rights.

Planet-Friendly Business

Luceco sourced 100% renewable electricity for all Group operations in 2024, for the third consecutive year.

The company is dedicated to achieving net-zero emissions by FY2031. Luceco has science-based targets, committing to reduce absolute Scope 1 and 2 GHG emissions by 46.2% and Scope 3 GHG emissions from the use of sold products by 27.5% by 2031 from a 2021 base year, and is setting these targets utilizing the SBTi framework. The company has completed 83 TM65 lifecycle carbon footprint assessments across its lighting companies, with DW Windsor achieving an estimated 75% coverage on a revenue basis for its most popular products. Luceco is building upon solid foundations established in line with TCFD recommendations and is working towards strengthening its climate-related disclosures.

Safe & Smart Tech

The company implements good data minimization practices, collecting information based on minimal data collection criteria with user consent

. It has removed unnecessary third-party SDKs from its products and explicitly states it does not collect sensitive personal data such as race, political opinion, religion, health, or sexual orientation . Furthermore, it avoids collecting personal data from users under the age of 16 without legal guardian permission , and its website collects only basic non-personally identifiable information . These actions demonstrate good privacy considerations integrated into product development. Users have good control over their personal data, with the ability to delete personal information at any time by emailing technical support and requesting account deletion, which removes all personal data from the cloud . Users also have the right to know the conditions of data collection, including consent for cloud uploads . The company complies with the General Data Protection Regulation (GDPR) and aims to ensure compliance with best practice and all local regulations . There are no documented incidents of unauthorized data use, and the company states it takes predictive security measures in physical, technical, and legal manners .