The responsible treatment of people and the environment combined with integrity and transparency in corporate governance are at the very core of our sustainable business success.
The conduct of employees and company representatives, which at all times complies with the law and is based on the principles of the honorable businessman, is our guiding principle. By following this principle, we create sustainable value for all our stakeholders and make tangible contributions to the ecological and social development of society. This process also includes the ongoing scrutiny of our actions and the impact they have both on us and on others.
Corporate social responsibility (CSR) is thus also a long-term commitment to improving the quality of life of people around the world – an objective that our safety products and solutions fulfill every day with the greatest degree of reliability.
The strict corporate governance standards that must be met by listed companies headquartered in Germany is already derived from the applicable legal system and in particular from the German Corporate Governance Code. We have also implemented supplementary Groupwide policies, including the Code of Conduct, which is binding for all employees and observance of which is ensured by a Group-wide compliance management system. Effective mechanisms for ensuring compliance with the relevant policies have been established through the authority matrix anchored in our organization and the dual control principle, according to which legally binding and financially effective decisions may not be made by one individual but only by two authorized persons. The publicly and globally accessible, fully anonymous whistleblower system R. STAHL Integrity Line has been in place since October 2020 and offers the opportunity to report compliance violations to the company. The system can be accessed t rstahl.integrityline.org.
Control of the R. STAHL group is primarily based on financial targets in keeping with the principle of value-based management. Non-financial targets may also be taken into account. This reflects our corporate responsibility, which we view in the context of economic activity together with environmental, social as well as governance action (ESG). Responsible cooperation with our stakeholders – first and foremost our customers, suppliers, employees, shareholders, financial institutions and the interested public – is a top priority in our organization and in our processes.
Because business success is inseparably linked to the commitment of creative and motivated employees, we emphasize the importance of attractive employment conditions with healthy and safe working conditions, fair compensation, targeted training opportunities and equal opportunities – all as part of our human resources strategy.
Our customers rely on the quality of our products, which are renowned for their uncompromising safety and reliability as well as for their excellent workmanship and durability – over the course of nearly a century. As a technology leader in our industry, we want to secure this confidence in the future with outstanding, innovative products that deliver sustainable value creation and contribute to the advancement of technological progress. To achieve this objective, we not only expect a great deal from ourselves, but also from our suppliers. In addition to compliance with the law and labor and environmental standards, we also strive to ensure the efficient use of resources.
The successful integration of sustainability criteria into value-based management requires a comprehensive approach and the fundamental integration of ESG criteria into the Group strategy. Appropriate key performance indicators must be defined for quantitative performance measurement and control, and the necessary systems for regular data collection and evaluation must be established. R. STAHL has been reporting on selected key performance indicators to illustrate the sustainability aspects and criteria practiced in the company since 2017. In the current year, the formulation of a key performance indicator system, the content of which will be very closely oriented to the criteria of major organizations for ESG assessment of listed companies, is to create the basis for a Group-wide ESG reporting system to be established in the medium to long term. This system will serve as a starting point for the methodical integration of sustainability criteria relevant for R. STAHL into the Group strategy.
With the introduction of the German CSR Directive Implementation Act on 19 April 2017 to implement the guideline 2014/95/EU (so-called CSR guideline to disclose non-financial information and details concerning diversity), and in accordance with Section 315b HGB, R. STAHL was required to include a Non-financial Group statement in its Group management report for the first time as of financial year 2017. Pursuant to Section 315c in conjunction with Section 289c HGB, the company must provide details on Environmental Matters, Employee Matters, Social Matters, Respect of Human Rights and Anti-Corruption and Bribery Matters. These aspects are fundamental elements of our sustainability-relevant activities. For financial years 2017 to 2019, R. STAHL has made use of the option pursuant to Section 315b (3) HGB to alternatively prepare a separate Non-financial Group statement outside the Group management report and to publish it on the company’s website www.r-stahl.com under the section Corporate/Responsibility. For reporting year 2020, the Non-financial Group statement has been integrated into the Group management report of the company for the first time. This step is a reflection of our understanding of the central importance of sustainability for the continued existence, development and social responsibility of R. STAHL. The Non-financial Group statement is prepared and published annually. The reporting period for this Non-financial Group statement is identical to the Group management report of the respective reporting year.
Our latest Non-financial Group statement is included in our Annual Report for FY 2021 on pages 51 to 75. The Annual Report for FY 2021 is available here.