Enabling progress for a secure planet
Enabling progress for a secure planet
We view sustainability in all its aspects as an integral constituent of our entrepreneurial activities.
SUSTAINABILITY AS PART OF OUR FOUNDING PURPOSE
Since our foundation in 1866, we have committed ourselves to enabling progress by protecting people, the environment, and assets from technology-related risks. We already inspire trust and credibility in the safety and effectiveness of sustainable technologies, processes, products, and systems. We aim to take our role as partner of choice for our customers into the future, addressing future-facing topics such as decarbonization, circular economy, and implementation of responsible business practices in both the physical and digital worlds.
Our specific corporate structure guarantees independence and impartiality. At the helm of the TÜV SÜD Group is TÜV SÜD AG, headquartered in Munich. The management holding company oversees the Group’s global subsidiaries. The economic owners of the TÜV SÜD shares are TÜV SÜD e.V., Munich, and the TÜV SÜD Foundation, Munich. Read more about our corporate structure here.
Our corporate strategy, “The Next Level. Together.” takes us up to 2025 and is designed to open the door to the next level of our company’s development. New trends and developments, driven in particular by digital technologies and sustainability, offer additional opportunities, both for us and for our customers. We thus pursue four strategic angles in order to exploit this potential:
Guided by this corporate strategy, we continue to drive the systematization of our sustainability activities.
Our materiality analysis is based on an extensive stakeholder survey that reflects a broad picture of the opinions of our employees and executives, key accounts, and selected experts from the worlds of academia, auditing, and professional and industry associations.
In 2022, we validated the materiality analysis in order to review and, if necessary, supplement our fields of action. In addition to the results of the global employee survey with a participation rate of around 70 %, data from stakeholder surveys conducted at individual subsidiaries in Germany and abroad were also included. They were supplemented by an assessment of the fields of action by the top management level. The potential impact of TÜV SÜD's business activities on the material topics in the fields of action was also assessed in terms of environment, society and governance. Overall, the value and importance of the individual fields of action were reconfirmed. However, an increasing importance of individual topics in the fields of action of employees, environment and corporate governance became apparent.
The Sustainability Committee lays the foundations for a targeted approach and Group-wide reporting on sustainability and coordinates the resulting measures. This includes the analysis and evaluation of the main fields of action with the involvement of the most important stakeholders as well as the definition of goals and performance indicators. It is composed of the heads of the Group's business units as well as representatives of the regions and divisions.
The results of the working group are regularly reported to the Executive Board. Finally, the Executive Board also defined the respective ambition levels and targets for the individual fields of action, as well as concrete action plans to achieve the targets. The control system comprises ten top ESG key performance indicators. In addition, other non-financial performance indicators are tracked.
In 2022, numerous ESG regulations were further developed for this purpose - at national, European and international level with an impact on TÜV SÜD's ESG reporting. Sustainability controlling was established and expanded: Around 30 performance indicators and targets were defined and implemented in the reporting structures. In addition, action plans for emissions reduction per country were developed to accelerate the decarbonisation of business operations. The Group Divisions and regions support the implementation of the required measures and, for their part, develop corresponding activities to achieve the goals.
Systematic and ongoing dialogue with our internal and external stakeholders drives a constant flow of fresh impetus, both in daily routine business and in the long-term course of our business activities. Here are some of the formats we use: