The Global Compact and its principles will be integrated into BayWa’s corporate strategy and culture, as well as into its day-to-day business activities. Membership also involves participation in various projects with other companies, policymakers and social organisations that are geared towards promoting UN objectives. BayWa documents its implementation of the ten principles in its annual sustainability report.
See also: Jinkosolar joins UN Global Compact initiative
“We are fully committed to the responsibility resulting from our global business activities,” said Prof. Klaus Josef Lutz, Chief Executive Officer of BayWa AG. “We have been reporting transparently on our sustainability targets and the success of our measures to achieve these targets for many years. By becoming a member of the world’s largest multi-stakeholder initiative for corporate social responsibility, we are demonstrating that our commitment to sustainability is serious and not just an empty promise.”
Sustainability department for some years
Thanks to its international expansion since 2008, BayWa now has a truly global presence. A compliance management system encompassing areas such as anti-corruption, occupational health and safety and human rights is firmly established within the company. BayWa has also had a sustainability department for some ten years already, which has been responsible for addressing many sustainability-related topics over the past few years and developing a sustainability strategy on behalf of the Group. In 2018, a comprehensive climate strategy was also introduced. BayWa has already achieved one of its four climate targets: all electricity needs within the Group have been covered by renewable energies since the end of 2020. BayWa aims to achieve climate neutrality throughout its own business operations by 2030.
Also interesting: Danfoss aims for CO2 neutrality no later than 2030
The UN Global Compact was set up in 2000 by then UN Secretary-General Kofi Annan. The UN initiative currently has over 19,000 members including companies from all manner of industries and sectors as well as political, academic and social organisations. Representatives from 170 of the world’s 195 countries have joined the Global Compact. German companies make up around 720 of the Global Compact’s members. (mfo)
