Sustainability Management at Vossloh
Significance of sustainability issues to the Vossloh business model
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鈥榮 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.
Sustainability is anchored in the Vossloh Group
The Executive Board of Vossloh has acknowledged the guiding principle of sustainable development in a statement on the Group鈥榮 sustainable orientation. Within the operational management of the Group, the topic of sustainability falls under the responsibility of the Chief Technology Officer (CTO), who is involved in the development of all concepts related to the topic of sustainability. The CTO 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/Controlling and Accounting. This body regularly discusses sustainability issues; in 2018, three meetings took place. The working group is responsible for further developing the approaches to sustainability already existing within the Company and for further clarifying the Group鈥榮 sustainability strategy. This includes developing quantifiable goals that Vossloh will seek to achieve from now on in the area of sustainability (including scope and time frame). The first decision-making processes concerning this were initiated by the working group in 2018.
Executive Board statement
Materiality analysis forms the basis for reporting
The reporting is based on the results of a materiality analysis of the nonfinancial aspects on the basis of which the Company lives up to its environmental, economic and social responsibilities which was carried out for the first-time preparation of the nonfinancial Group statement in 2017. A multistage process was used to identify and prioritize the topics relating to these areas that are relevant to Vossloh both within the Company itself and in the upstream and downstream areas. The subject of the multistage process was a global survey of experts and managers in various areas within the Company. This resulted in 13 nonfinancial aspects of particular relevance; the following materiality matrix depicts the significance of these aspects:
In its meeting on December 11, 2018, the Executive Board of Vossloh AG expressly addressed the significant aspects and issues identified in 2017. Since no fundamental changes to the underlying conditions of the business environment had occurred since then, the Executive Board confirmed these subjects unchanged for the 2018 Nonfinancial Statement.
Certification in the Vossloh Group
In recent years, more and more of the Company鈥檚 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 2018. For example, Vossloh Nordic Switch Systems in Ystad, Sweden now has ISO-45001 certification (replacing OHSAS 18001). The company Austrak Pty Ltd., which has belonged to the Group since December, is already certified under ISO 14001 and the Australian safety standard AS4801. At the reporting date December 31, 2018, more than 99 percent of the Vossloh workforce was employed at an entity certified in accordance with the aforementioned standards.