Along with the increasing importance of sustainability, sustainability reporting has also become more relevant. For many years now, our sustainability manager has summarized our activities related to this topic in an internal report once a year. It considers various aspects:
- Working groups and multi-stakeholder initiatives
We are actively involved in shaping our industries future by participating in various working groups of industry and sector associations. As a member of RSPO and FONAP it is also important to us to support sustainably grown palm oil as it is one of our main raw materials. We also participate in projects initiated by these organisations.
- Cooperation with universities and institutes
We are interested in new approaches. Together with the Research Department for Renewable Resources at the University of Bonn we are currently working on different projects. Additionally, we have a collaboration with Nova Institute which carries out in-depth analysis for us, for example with regard to life cycle assessments (LCAs).
- Sustainability KPIs
To track our goals, we have identified a bunch of key performance indicators (KPIs). Their achievement status is stated in the report. The KPIs are not only company-internal, but also consider and evaluate our suppliers.
- The Act on Corporate Due Diligence Obligations in Supply Chains and risk analysis
Due to the size of our company, we are not yet affected by The Act on Corporate Due Diligence Obligations in Supply Chains (LkSG). Nevertheless, we are keeping an eye on the requirements. On the one hand, because we are part of the supply chain of various companies for which the law already applies. On the other hand, as we will probably be required to report at EU level within the scope of CSDDD in the future. A risk analysis for our suppliers is carried out every two years. The procedure for this assessment has already been adapted to the requirements of the new legislations.
The Corporate Sustainability Reporting Directive (CSRD), a new directive on sustainability reporting, has been established at EU level. Reporting according to CSRD will also be mandatory for us from 2025. Our sustainability management is already working on a proper implementation.