For thyssenkrupp, sustainability means that business and growth aspirations need to be tailored to social, environmental and economic considerations. Aligning our core business to ensure that our products are helping societies across the world leave a minimal environmental footprint and support economic growth and development. This is why we work towards continuous innovation and improvement in our company. For more than two centuries, creating a sustainable and responsible business has been intrinsic to thyssenkrupp's corporate culture.
Sustainability is intrinsic to thyssenkrupp’s corporate culture
As a diversified industrial group, thyssenkrupp provides innovative products and solutions worldwide. In addition to following sustainable practices in our own organization, it is our goal to also enable our customers to grow their businesses sustainably and generate economic growth in communities around the world.
Our sustainability practice is also key to strengthening our ability to address challenges in the future, and creating long-term value from the opportunities that we have today - for our customers, for our company and for our stakeholders.
Management and targets
Sustainability as a practice is firmly embedded in our corporate mission statement and our strategic way forward as a company. We have put in place, and rigorously implement, a blueprint to integrate our comprehensive sustainability vision into our overall corporate strategy.
At thyssenkrupp, we recognize that the systematic management of indirect financial parameters contributes to improvements in financial performance indicators. For example, sustainable increases in energy efficiency have a positive impact on production costs, which means an ultimate increase in earnings, cash flow and value added. Our continuous investment in research and development therefore helps us drive greater efficiencies by improving our product and service portfolio. Our research-driven solutions also mean that we are able to take our products and services into new markets, which also helps drive us closer to our financial targets.
In the past fiscal year, we have sought to grow our targets further and achieve greater improvements in the areas of ‘People, Technology and Innovation’, as well as ‘Environment, Climate and Energy’.
The indirect financial targets and strategic objectives defined by the Sustainability Committee are subject to annual review. The Committee is made up of the Group Executive Board, CEOs of the business areas and heads of corporate functions.
A strong commitment to our communities, the creation of a positive environment and enthusing people for technology are a matter of course for thyssenkrupp.
In line with the long-standing traditions of Thyssen and Krupp, we regard ourselves as an active member of the community and support initiatives close to our locations through donations, sponsorships and other means. This benefits both sides – company and community. We strengthen our social environment and at the same time create conditions which have an important influence on the sustainable success of the company.
Based on the focus areas of thyssenkrupp, our group companies conduct their local activities in the areas of education, social affairs and sciences and research. At international, national, regional and local level, we regard ourselves as a constructive partner for our neighborhood.
Long-term and trusting partnerships are central to thyssenkrupp’s successful cooperation with the different groups of civil society. At Group level, we have been supporting major projects and membership for many years. Furthermore employee donation appeals are organized worldwide in the event of extraordinary natural disasters such as earthquakes or floods.
Also in our local community activities we consistently follow our high compliance standards. Therefore worldwide, donations to political parties, to party-affiliated or party comparable organizations, to independently elected representatives and candidates for political mandates are generally inconsistent and inadmissible according to our values. The pursuit of exclusively or predominantly private interests with corporate means is also strictly prohibited – for board members as well as employees.
Environment, Climate & Energy
thyssenkrupp is continuously developing its environmental and energy management system in order to improve our energy and resource efficiency and minimize environmental impact. In this we hold ourselves to the highest standard. Our sites around the world utilize state-of-the-art environmental protection technologies. We make continuous investments in equipment such as dust filters, wastewater treatment facilities and oil separators, and to optimize vehicle fleets in our service activities.
The thyssenkrupp Group Policy on Environment and Energy identifies the scope of responsibilities for environment protection and defines a globally standardized framework for our group companies. It can be summarized into five principles:
- Environmental & climate protection and energy efficiency are important corporate objectives
- We promote environmentally friendly and energy-efficient products and services
- Environmental protection, energy efficiency and the conservation of resources is a task for everyone
- We comply with legal obligations and other requirements
- We conduct an open dialogue
The continuous improvement of the management is based on a transparent monitoring and controlling, a close group-wide dialogue of our experts as well as the promotion of best practices and training in major issues.
Health & safety is a key priority at thyssenkrupp. We are underlining this claim with our Group policies. For thyssenkrupp, the health and safety of employees is a corporate objective of equal standing with the quality of our products and business success.
Consequently health & safety is fully integrated in the corporate planning and controlling processes. Good health & safety performance, for us, is not occurring randomly but the result of consequent and systematic action. Guidance for a systematic approach worldwide is provided by a binding health & safety handbook. It describes the processes to embed health & safety in the organizational structure and the operational practice. The handbook is integral part of our corporate initiative “Zero accidents” which comprises all worldwide actions regarding health & safety.
Diversity is an important aspect of our daily working life. Colleagues with different nationalities, cultural background and experiences enrich our company. Therefore, thyssenkrupp has set the target to even more and systematically support as well as to actively benefit from diversity. We are committed to a corporate culture that is based on appreciation, support and utilization of diversity within the Group. This philosophy is underlined by our mission statement.