Sustainability is the practice of using resources in a way that meets present needs without compromising the ability of future generations to meet their own needs. This balance is meant to conserve and protect the planet's resources to support long-term ecological health.
Beyond environmental issues, sustainable solutions also include social equity and economic development, recognizing that these elements are interconnected and essential for the well-being of humanity and the planet.
A sustainable business strategy is about having a positive impact on the environment and society as a whole by addressing global challenges such as climate change, depletion of natural resources, pollution, and fair working conditions, among others. For today’s businesses, sustainability is not just an ethical imperative but also a strategic and operational necessity. Here’s why more companies are incorporating sustainable solutions:
Risk Management: Companies that ignore sustainability are more likely to face environmental, social, and governance risks, potentially leading to financial losses, reputational damage, and legal problems.
Consumer Demand: There is a growing consumer preference for sustainable products and practices. Companies that adopt sustainable practices are more likely to attract and retain environmentally conscious customers.
Innovation and Competitiveness: Focusing on sustainable solutions drives innovation as companies seek to develop new, more efficient, and less wasteful products and processes.
Regulatory Compliance: As governments worldwide implement stricter environmental regulations, companies committed to sustainability are better positioned to comply with these regulations.
Long-term Viability: Sustainability is crucial for the long-term viability of a company. By managing resources responsibly, companies can operate continuously without being hindered by resource scarcity or environmental degradation.
thyssenkrupp strives to lead the charge in the green revolution. Sustainability is ingrained in our core corporate strategy. We focus on delivering innovative products, technologies, and services that contribute to the success of our customers. This includes a strong emphasis on environmental and climate protection, energy efficiency, and responsible resource usage.
We aim to minimize our environmental impact and continuously improve our operations and products to be more sustainable. Our approach also involves working closely with suppliers, customers, and partners to promote sustainable practices throughout our supply chain and operations. The following pillars make up our promise of sustainability:
Environmental & Climate Protection and Energy Efficiency: Our environmental and energy management system is constantly improving, aiming to minimize environmental impact, conserve energy and resources, and protect our natural habitat sustainably.
Promotion of Environment-Friendly Products and Services: We emphasize developing products and services that minimize environmental impacts and energy usage. This involves setting our own targets for environmental and energy performance and collaborating closely with our customers, suppliers, and institutions.
A Collective Responsibility: At thyssenkrupp, we believe that environmental protection and resource efficiency are tasks for everyone. Regular training programs for employees at all levels, along with an active exchange of information with partners, foster a culture of active participation in environmental and energy targets.
Compliance with Binding Obligations: thyssenkrupp systematically identifies the environmental and energy-relevant aspects of our activities, products, and services. Regular reviews ensure compliance with legal regulations and other requirements, thus avoiding operations that negatively impact environmental or energy performance.
Open Dialogue: Transparency and understanding are key components of our approach. We engage in ongoing, constructive dialogue with various stakeholders, including employees, customers, suppliers, government institutions, NGOs, and the public.
One of our goals is to achieve climate neutrality by 2030. This ambitious target is rooted in a modern and sustainable supply chain management approach made up of the following core strategies:
Implementing digital technologies in supply chain management can significantly enhance efficiency and sustainability. This involves using software and technology to track and manage the flow of products from origin to consumer. Digitization allows for better data collection and analysis, leading to more informed decisions. For example, by using digital tools, companies can optimize routes for transportation to reduce fuel consumption, or they can use predictive analytics to manage inventory more efficiently, reducing waste. Digital platforms also enable better collaboration and transparency among all stakeholders in the supply chain, ensuring that sustainability practices are adhered to throughout the process.
2) CO2 Footprint Measurement
This aspect involves quantifying the amount of carbon dioxide emissions produced through the supply chain activities. By measuring their CO2 footprint, companies can identify the most significant sources of emissions in their supply chain. This data is crucial for setting targeted reduction goals and tracking progress. For instance, if a significant portion of emissions comes from transportation, a company might switch to more fuel-efficient vehicles or use alternative modes of transport like rail instead of road. Additionally, understanding their CO2 footprint helps companies invest in carbon offset programs and engage in practices that are not just less harmful but also beneficial to the environment.
3) Developing Individual Action Plans
This refers to creating specific, tailored strategies for each segment of the supply chain to reduce its environmental impact. These action plans are based on the data gathered from digitization and CO2 footprint measurement. For example, a company might develop an action plan to switch to renewable energy sources in their manufacturing processes, improve waste management practices, or collaborate with suppliers who commit to sustainable practices. These plans are often iterative, adapting to new technologies, market conditions, and sustainability standards.
By integrating these three components, companies can significantly reduce the environmental impact of their supply chains, leading to more sustainable and responsible business practices.
thyssenkrupp is leading the green revolution. Through our comprehensive approach, we hope to demonstrate how sustainable practices are pivotal for long-term corporate success and inspire other companies to make a positive impact on the world.
Driving sustainable solutions for our customers is at the forefront of our mission. We recognize that each customer faces unique challenges in their journey toward sustainability, and we're committed to providing tailored, innovative solutions that meet these diverse needs.
Our approach integrates cutting-edge technology, environmentally conscious practices, and a deep understanding of industry-specific requirements. Whether it's through developing energy-efficient materials, offering advanced engineering solutions that reduce carbon footprints, or optimizing supply chain processes to minimize environmental impact, our goal is to empower our customers.
We collaborate closely with you, leveraging our expertise in various sectors like automotive, construction, and engineering, to create sustainable solutions that not only benefit businesses but also contribute positively to the planet. This commitment to sustainability, combined with our technical prowess, makes thyssenkrupp a trusted partner in the global effort to build a more sustainable future.