Sustainability strategy and targets
Sustainability is a core component of our corporate strategy. As a diversified industrial group we aim to supply innovative products, technologies and services worldwide that contribute to the sustainable success of our customers.
Together with our customers we are looking to the future, and our decision-making processes include both business considerations and ecological and social aspects. The basis for this is a 360 degree view of our value and production chains. In this way we improve our performance and strengthen the future of our company.
Anchoring in the organization
Sustainability activities in the Group are managed and developed by the Sustainability Committee, which consists of the Group Executive Board, the CEOs of the business areas and heads of various corporate functions. The Committee takes decisions on tk’s overall sustainability strategy, including the setting and monitoring of targets as well as the review and implementation of key stakeholders' expectations.
Furthermore, a dedicated Sustainability Council, consisting of representatives of the business areas and the corporate functions of thyssenkrupp AG, implements key processes and coordinates data collection processes as well as initiatives in the frame of tk’s sustainability strategy.
The overall sustainability management as well as the coordination of the Sustainability Committee and Council lie within the Corporate Function Technology, Innovation & Sustainability.
Indirect Financial Targets to secure continuous improvement
thyssenkrupp aims to continuously improve its sustainability performance.
In this frame, the Sustainability Committee has set Indirect Financial Targets (IFTs) in the areas of technology and innovations, environment, climate, energy, purchasing and people. Progress towards these targets is measured annually and factored into variable compensation for management via the sustainability multiplier (more information can be found in the Compensation Report).
A new target has been adopted for energy efficiency: in the 2018/2019 fiscal year energy efficiency gains of 100 GWh are to be achieved (continuing operations only). The R&D intensity target was also adjusted: the new adjusted R&D intensity target is 3.0% (continuing operations only).
Overview about Indirect Financial Targets
|Annual energy efficiency gains of 150 GWh in 2017/2018 and 100 GWh in 2018/20191||GWh||330||253||-||Environment, climate, energy|
|100% of relevant activities covered by ISO 50001 energy management system by 2019/2020||%||66||83||+17%-p.||Environment, climate, energy|
|100% of relevant activities covered by ISO 14001 environmental management system by 2019/2020||%||85||91||+6%-p.||Environment, climate, energy|
|Sustainable adjusted R&D intensity of around 2.5%||%||2.7||2.5||-0.2%-p.||Technology and innovations|
|15% share of women in leadership positions by 2019/2020||%||11.6||12.0||+0.4%-p.||Employees|
|Accident rate of 2.0 by 2020/2021 and improvement of at least 10% p.a.||accidents per million hours worked||3.1||3.0||-3.3%||Employees|
|100 supplier sustainability audits each year||#||161||173||+12||Responsible Procurement|
|1 Target for 2018/2019 considering continuing operations only|
Integrated reporting approach
thyssenkrupp provides continuous and fully integrated reporting on its sustainability performance in its annual report and on its corporate website, based a set of national and international standards like the Global Reporting Initiative (GRI), the UN Global Compact, Greenhouse Gas Protocol, Task Force on Climate-related Financial Disclosures (TCFD), International Integrated Reporting Council (IIRC), IFRS and others as well as applicable regulations like the German Commercial Code (HGB), the EU CSR Directive and the German Accounting Standards (DRS). The company does not publish a printed sustainability report or a separate online report. All essential content is published in our annual reporting and additional information on our webpages.
A central element of the materiality analysis of sustainability issues is the view of the company’s management. This approach is based on established management reporting standards (such as the German Accounting Standards, DRS). Management’s view naturally includes the interests of the various stakeholders as well as the requirements of the reporting standards, and assesses them in the context of the company. Accordingly, the sustainability strategy is fully integrated in the corporate strategy.
Our integrated sustainability reporting system is based on the reporting boundary of our financial reporting, which in turn is based on IFRS standards and the German Commercial Code (HGB). Unless otherwise stated, the information refers to all fully consolidated operations. In accordance with IFRS we also report on our 50% shareholding in Hüttenwerke Krupp Mannesmann GmbH (HKM).
Our Annual Report includes key information for the fiscal year, which at thyssenkrupp starts on 1st October and ends on 30th September. Additional reporting on the webpage takes place on an ongoing basis and is not tied to a specific reporting cycle. Performance indicators refer to a fiscal year. Unless otherwise indicated, the data always refer to the past fiscal year.
Data collection processes
Integrated sustainability reporting includes a large amount of data collected via a variety of data systems. These data systems are adapted to the specific challenges of the area involved. All content in the Annual Report is audited externally, as are relevant environmental and energy data (e.g. CO2 emissions or energy consumption).
Overview of non-financial disclosures
The full non-financial disclosures pursuant to § 289b HGB are integrated in the various sections of the combined management report as this information is important for understanding the business performance and position of the Group.
The combined disclosures relating to the Group apply equally to thyssenkrupp AG. In compiling the information, various frameworks, e.g. UN Global Compact, were used as a guide. Risks of negative environmental and social impacts from thyssenkrupp’s business activities are also addressed in the various sections of the management report. Based on this, there are no additional risks to be reported in the risk report. Respect for human rights and social matters in the meaning of German GAAP (HGB) are addressed as cross-cutting issues which have large overlaps with each other and with employee concerns. Beyond this, the aspect of social matters is important but not necessary for an understanding of our business performance, the situation of the Group, or the impacts of business activity.
The folllowing overview of the non-financial disclosures refers to the relevant sections in the annual report 2017/2018. Furthermore, additional information can be found in the relevant sections of the tk website.
|Environmental issues||Employee issues||Respect for human rights||Social issues||Anti-corruption and prevention of bribery|
|Sustainability and Indirect Financial Targets||Sustainability and Indirect Financial Targets||Sustainability and Indirect Financial Targets|| See human rights and labor standards and also
|Sustainability and Indirect Financial Targets|
|Environment, climate and energy||Employees||Sustainability in supplier management||Compliance|
|Sustainability in supplier management||Sustainability in supplier management||Employees||Sustainability in supplier management|
|Opportunity and risk report||Opportunity and risk report||Opportunity and risk report||Opportunity and risk report|
|Provisions for employee benefits and other provisions|| Provisions for pensions and similar obligations
Provisions for employee benefits and other provisions
|Provisions for employee benefits and other provisions|
Press spokesperson Technology, Innovation & Sustainability
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We have compiled answers to frequently asked questions. As a general rule you will also find most of the information on the relevant pages, e.g. environment, climate & energy or compliance. Our experts would be pleased to help with any further information you may require on sustainability at thyssenkrupp. Direct your inquiries to the “Sustainability Strategy, Reporting & Ratings” team. Please note that due to the large number of inquiries, it is not always possible to answer all questions. In addition, journalists can contact the press department, investors and analysts our Investor Relations team, and suppliers our Purchasing function.
Where can I find thyssenkrupp’s sustainability report?
thyssenkrupp provides continuous and fully integrated reporting on its sustainability performance within its annual report and on its corporate website. Accordingly, the sustainability report is made up of various documents. The overview page on sustainability provides links to all key content.
Can you send me a printed sustainability report?
As neither our website content nor our annual report is published in printed form, the content is only available online.
Who is responsible for sustainability at thyssenkrupp?
At thyssenkrupp, responsibility for sustainability lies with the Executive Board and the Sustainability Committee. Activities are coordinated by the corporate function Technology, Innovation, and Sustainability. Click here to find out more.
How does thyssenkrupp manage the area of human rights?
Human rights play a relevant role in various management processes at thyssenkrupp. Accordingly, our human rights policy is made up of various documents, above all the Code of Conduct, the Supplier Code of Conduct, further policy for Occupational Safety and Health, and the International Framework Agreement. It is therefore implemented in particular in the Group’s processes relating to compliance, procurementand employee rights.
I have a project that could be of interest to thyssenkrupp and am looking for support. Who should I contact?
thyssenkrupp is involved in a large number of projects around the world. In your inquiry please indicate the connection your project has with thyssenkrupp’s business and which of the company’s sites it could fit in with.
In which sustainability indexes is thyssenkrupp listed and how well does the company rank?
thyssenkrupp is included in a variety of indexes and rankings, such as CDP, oekom, sustainalytics and MSCI. These days, the majority of indexes rank individual aspects rather than providing an overall rating. At CDP (formerly the Carbon Disclosure Project), which still provides an overall rating, thyssenkrupp was included on CDP's global A List in 2017, making it one of the leading companies in the German Stock Index (DAX).
I am writing a degree dissertation on the subject of corporate social responsibility. Does thyssenkrupp take part in studies of this kind?
Like many other major corporations, thyssenkrupp receives numerous requests to take part in studies. As a result we can only take part in a select few. Please check out this website first to see if the information you require is not already provided.