- Relative indicator: kg CO2e per €1,000 in revenue.
- Relative indicator: m3 per €1,000 in revenue.
- Lost Time Injury Frequency Rate.
- Lost-timeaccidents per 1,000,000 hours worked (according to standard set by German employers' liability insurance association).
- Lost-timeaccidents per 200,000 hours worked (according to U.S. Occupational Safety and Health Administration standard).
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RENK Group AG | Sustainability Report 2023 | Content |
Sustainability Report | ||
1.2 | Governance and compliance | 13 |
2. Products and development | 20 | |
2.1 | Electrification and hybridization | 22 |
2.2 | Renewable energies | 25 |
2.3 | Conserving resources | 28 |
2.4 | A sustainable product life cycle | 31 |
3. Environment and resources | 34 | |
3.1 | Environmental management | 34 |
3.2 | Energy and emissions | 36 |
3.3 | Material and resource efficiency | 38 |
4. Suppliers and raw materials | 41 | |
4.1 | Minimum requirements for suppliers | 41 |
4.2 | Material compliance | 43 |
5. Employees and health | 45 | |
5.1 | Talent acquisition | 45 |
5.2 | Development of our employees | 47 |
5.3 | Modern, social, and diverse working environment | 49 |
5.4 | Occupational health and safety | 52 |
6. Appendix | 55 | |
6.1 | About this report | 55 |
6.2 | Sustainability key figures | 57 |
6.3 | Auditors' report | 67 |
6.4 | GRI content index | 69 |
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RENK Group AG | Sustainability Report 2023 | Greetings from the management board |
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RENK Group AG | Sustainability Report 2023 | Greetings from the management board |
Dear Readers,
RENK stands for responsibility. We have made it our mission to enable a safe and sustainable future. For over 150 years, it has been a matter of course for us to ensure that our business activities contribute to the economically stable and environmentally responsible development of our society. Our employees, partners, and customers trust us to do this.
We are a "Trusted Partner" for sustainability. As a leading provider of drive technology for military vehicles and naval vessels, we play an important part in preserving peace, democracy, and security. With our innovative solutions for the use of hydrogen, carbon technologies, and heat pumps, we help our customers to lower their energy consumption, reduce their emissions, and operate sustainably.
With our Sustainability Strategy 2025 and the definition of six fields for action, we are committed to working for a world that is fit for the future. We have set ourselves ambitious targets and plan to become climate neutral (Scope 1 & Scope 2, "net zero") worldwide by 2040. We already purchase electricity from renewable sources at all our German production sites. At the end of 2023, we installed solar panels at our site in Brazil in order to use self -generated,emission-free electricity in future. This step marks an important milestone on our path to climate neutrality and motivates us to keep working towards the achievement of our global "net zero" goal.
At the same time, responsibility is a priority for us across the entire supply chain. Last year, we began making our complex supply chains transparent. In the future, a global supplier management system will ensure that RENK complies with all due diligence obligations with regard to suppliers, materials, and raw materials. We have therefore created the basis for a sustainable supplier management system that ensures compliance with the requirements of the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, LkSG).
In addition, this sustainability report provides many further insights into how RENK and its over 3,700 employees contribute to a sustainable global society.
We hope you find it interesting.
Susanne Wiegand | Christian Schulz |
CEO | CFO |
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RENK Group AG | Sustainability Report 2023 | Strategy and management |
01
Strategy & management
A forward-looking strategy sees sustainable business activities as an opportunity for the company. In order to proactively meet the challenges and opportunities of today, sustainability is an essential and integral part of successful corporate management.
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RENK Group AG | Sustainability Report 2023 | Strategy and management |
1. Strategy and management
- > We take responsibility for the quality and integrity of our products and services, for our employees, and for our environment. Sustainability is the foundation of our business development, especially in uncertain and challenging times. Our Code of Conduct describes our values as the basis for our actions and is binding for every employee.
1.1 Sustainability strategy and organization
"According to the definition of our sustainability strategy, we will evolve continuously and will review our activities on an ongoing basis on the way to achieving our goals. As an organization, we are in the process of reducing our emissions in line with the economy and society as a whole. We are therefore making our ambitions clear with quantitative targets as well. We will evaluate the measures that are necessary in order to achieve these targets every year."
Dr. Markus Grube
Head of Corporate Development
We underpin our ambition through our participation in the UN Global Compact and through a commitment to the Science Based Targets Initiative (SBTi). As part of this, we will update and extend our climate targets in 2024. Both upstream and downstream processes in our supply chain will be taken into account in our "near-term"/"net zero" target. By signing the UN Global Compact, we commit to aligning our strategy and activities with the Sustainable Development Goals (SDGs). Our self-image, our values, and our commitments from our stakeholder initiatives all flow into our sustainability strategy,which we developed in 2022. It is driven by a globally active ESG team within the RENK Group, led by the Head of Corporate Development. The latter reports directly to the CEO and CFO of the RENK Group on the subject of sustainability.
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RENK Group AG | Sustainability Report 2023 | Strategy and management |
Sustainability management
In order to give the topic the necessary priority, the central ESG team was established in 2022, consisting of the Head of Corporate Development, Chief Human Resources Officer, Chief Legal Officer, Head of Quality, Health, Safety & Environment (QHSE) Management, and Head of Procurement Excellence. This team is supported by employees from the respective areas and pursues the goal of cross-business unit management of sustainability as a strategic field of action. The Corporate Development department acts as the central coordination point for all ESG activities and manages the cross-functional ESG team. In addition, there is regular exchange with our internal and external stakeholders.
Left to right:
Dr. Carsten Greisert (Head of Quality, Health, Safety & Environment Management),
Brigitte Schnakenbourg (Chief Human Resources Officer),
Alexander Pingert (Head of Procurement Excellence),
Christin Mayer (Corporate Development Manager),
Luisa Fischer (Compliance Manager),
Rafaela Dafelmair (Quality Manager),
Florian Köhler (Chief Legal Officer),
Dr. Markus Grube (Head of Corporate Development),
Sustainability strategy
Ecological, social, and societal sustainability are integral parts of RENK's corporate strategy. Through the high efficiency and durability of our products and through our service over the entire life cycle, we help to continuously support our customers in achieving their own sustainability goals. In addition, as a systemically relevant partner for military mobility solutions, RENK contributes to ensuring state security and defense capability, which are necessary to ensure a free society, economic prosperity, and social and ecological sustainability.
RENK is convinced of the value-added contribution of sustainable solutions, structures, and processes. That is why we are resolutely implementing measures for sustainability, climate protection, and environmentally sound waste disposal at our own sites. We have set ourselves targets for the key performance indicators relevant to achieving our sustainability strategy, taking into account an internal competitive analysis. We want to be a driving force for sustainability in our industries and thus meet the increasing expectations and requirements of our stakeholders (customers, suppliers, employees, public, competitors, and investors).
We regularly review and sharpen our strategy and adjust the relevant topics and target parameters on this basis. The materiality analysis was reviewed in the reporting year 2023 and confirmed by the Management Board of RENK Group AG. Both the sustainability strategy and the related targets set for 2025 and 2030 were therefore maintained in 2023.
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RENK Group AG | Sustainability Report 2023 | Strategy and management |
Key topics
In the reporting year 2023, we organized a workshop at which the Management of RENK Group AG reviewed the materiality analysis conducted in 2022 to ensure that it was up to date and confirmed it once again.1) The analysis ensures that both the expectations and requirements of our stakeholders and the impact of RENK's corporate actions on the environment, society, and the economy are identified.
The most important stakeholders considered in the materiality analysis in 2022 include customers, employees, suppliers, investors, and competitors. The RENK ESG team has determined the importance of the various stakeholders by means of a combined assessment, based on impact and relevance for the company. Negative impacts have not been integrated into the analysis to date. Based on this, we identified the sustainability categories that are material for our stakeholders. The Management Board and the first management level of the RENK Group were also intensively involved in the prioritization of the sustainability categories. This was followed by a weighting of the results in order to take into account the different relevance of the stakeholder groups for RENK. As a result, we focus on six top categories, which are depicted in the materiality matrix.
The sustainability strategy was developed in close cooperation with the Management Board. Based on the results of the materiality analysis, we have defined key performance indicators for each category. Targets have been set for each of these and projects have been set up to ensure that the targets are met. We will continue to regularly engage with our stakeholders in the future to review our key categories and readjust our sustainability strategy.
In 2024, we will conduct a double materiality analysis in accordance with the requirements of the ESRS2) drawn up by the EFRAG3) and will thus implement the requirements of the CSRD.4) Based on the results of the new materiality analysis, we will carry out a comprehensive review of our sustainability strategy and adjust it if necessary. The results will be presented in the management report of the annual report in the future.
Materiality matrix | Key topics |
ENVIRONMENTAL
• Climate change
SOCIAL
• Employee health & safety
• Workforce management
GOVERNANCE
• Customer privacy & data security
• Ethical behavior & transparency
• Governance structures & mechanisms
Medium relevance/impact
Highest relevance/impact
Further priorities
- The materiality analysis was prepared using Datamaran software.
- European Sustainability Reporting Standards.
- European Financial Reporting Advisory Group.
- Corporate Sustainability Reporting Directive.
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RENK Group AG | Sustainability Report 2023 | Strategy and management |
Our contribution to the global Sustainable Development Goals
RENK is guided by the 17 Sustainable Development Goals (SDGs) of the United Nations. These goals and their 169 subgoals are intended to ensure sustainable development worldwide at the economic, social, and ecological levels. They relate to politics,
society, science, and companies. At RENK, we particularly support those SDGs that are especially in line with RENK's
sustainability strategy and that we have the greatest opportunities to influence with our business:
UN goals | RENK's contribution |
The physical and mental health of all | |
Ensure healthy lives and promote well-being for | employees is particularly important to RENK. |
all at all ages. | We provide a safe and secure work |
environment. |
RENK is committed to promoting women in | |
Achieve gender equality and empower all | management. Our employees are treated |
women and girls. | equally at their workplace and have equal |
access to professional development. |
It is important to RENK to support its | |
Build resilient infrastructure, promote inclusive | customers in achieving their sustainability |
and sustainable industrialization, and foster | goals. Therefore, we focus on offering |
innovation. | innovative, durable, highly efficient |
products. |
RENK has expressly committed itself to | |
To reduce inequalities within and among | guaranteeing and creating equal |
opportunities for everyone - regardless of | |
countries. | |
characteristics that make an individual | |
unique. | |
RENK is realigning its value-added processes | |
To ensure sustainable consumption and | through resource-efficient technologies, the |
production patterns. | use of secondary raw materials, and the |
promotion of the circular economy. |
As part of the RENK environmental action | |
Taking urgent action to tackle climate change | plan, we contribute to climate protection |
and its impacts. | both with measures within the Group and |
with our sustainable products. |
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Renk Group AG published this content on 26 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 14:22:19 UTC.