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.