Sustainability Management at Vossloh
Vossloh is active in rail technology markets worldwide. Within this context, the Company is focused on rail infrastructure. Vossloh makes an important contribution to people‘s mobility and the transport of goods with its products and services for rail infrastructure. For both local and long-distance traffic, rail is one of the most sustainable, most economical and also safest means of transport. In its economic activities, Vossloh also fulfills its social responsibility as a company. Sustainable economic success amid global competition is only possible through responsible corporate conduct. This includes both the Company and its employees adhering to the applicable laws, respecting basic ethical values and acting in an exemplary fashion at all times and in all scenarios.
The Executive Board has acknowledged the guiding principle of sustainable development in a statement on the Group’s sustainable orientation. Within the operational management of the Group, the topic of sustainability is located in its own area. This falls to the Chief Operating Officer (COO), who is involved in all the concepts related to the topic of sustainability. The COO also oversees the sustainability working group comprising those within the Group who are responsible for Compliance, Environment/Health/Safety (EHS), Human Resources (HR), Investor Relations, Finance, and Accounting. All of the Company’s business units are also represented here. This body regularly discusses sustainability issues; in 2019, two meetings and one workshop to further develop the focus on sustainability in the Vossloh Group took place.
Vossloh’s first nonfinancial Group statement reported on the 2017 fiscal year. The choice of topics made remained unchanged by way of resolution of the Executive Board of Vossloh AG for the 2018 nonfinancial statement. The Executive Board regularly deals with nonfinancial matters used by Vossloh to meet its environmental, economic, and social responsibility. In its meeting on December 9, 2019, the Executive Board confirmed the issues identified up to that point for the 2019 nonfinancial statement and, having identified the subject of water consumption as being another nonfinancial matter bearing particular relevance for the Company, resolved to include this in the reporting as well. The following materiality matrix depicts the significance of these now 14 nonfinancial aspects of particular relevance:
In recent years, more and more of the Company’s entities have been awarded certification in at least one of the international quality, environmental, energy efficiency and social standards such as ISO 9001, ISO 14001, ISO 50001, OHSAS 18001 or its successor standard ISO 45001, or a comparable national standard and have corresponding management systems in place. This development was also continued in 2019. At the reporting date December 31, 2019, more than 98 percent of the Vossloh workforce was employed at an unit with such certification.
Since the beginning of 2020 Vossloh is an active participant of the UN Global Compact initiative. By supporting the principles of the UN Global Compact, Vossloh is once again outlining its contribution to achieving the global Sustainable Development Goals (SDGs) by 2030.