Governance
GOVERNANCE
Our main targets
- We want to anchor ESG risks in business decisions and increase transparency.
- We want to promote responsible and ethical business conduct internally and with our business partners.
- We have zero tolerance of unethical behaviour.
- We want to engage with and positively impact the supply chain.
Responsible Sourcing
A significant share of our added value is generated in the pre-production phases. In this context, we procure products and services from numerous suppliers in various countries around the world. Our Code of Conduct for subcontractors and suppliers of the Nordex Group provides a foundation to ensure that our ecological and social standards apply along the entire supply chain.
STANDARDS FOR RESPONSIBLE INTERNATIONAL COLLABORATION
In order to fulfill our responsibility along the supply chain, we have defined standards that also cover collaboration with suppliers. We are continually optimizing our review process for collaboration.
We also actively support equal opportunities and equal treatment of employees as well as full compliance with laws and regulations concerning freedom of association and collective bargaining agreements. We also require this attitude for any collaboration with business partners. In order to guarantee this and the compliance with our standards, we regularly conduct an assessment of relevant suppliers in the form of visits and audits.
The aspects of compliance, environmental protection and responsibility for the supply chain are also an integral components of the audits we conduct before taking on new suppliers.
Business Ethics, Compliance and Integrity
Our company is committed to using resources in full awareness of our legal, social, environmental, and economic responsibilities. Everyone we interact with is treated with a clear sense of social responsibility. We collaborate respectfully with our customers, suppliers, contractors and shareholders, as well as with our neighbors and local communities. All our business decisions and activities are based on our strict compliance with laws and regulations as well as our strong company values.
On one hand, we focus on full regulatory compliance and preventing corruption. On the other, we actively engage with our internal and external stakeholders to develop structural engagement processes and build robust good governance. Our Code of Conduct for Nordex Group contractors and suppliers is essential to ensure that our ecological and social standards are applied throughout the entire supply chain.
REGULATORY COMPLIANCE AND PREVENTING CORRUPTION
The Nordex Group has zero tolerance for any form of corruption. Every employee is responsible for effectively preventing corruption, and we expect the same from our business partners. The Compliance Department uses the Code of Conduct, company policies, guidelines, risk assessments, individual advisories, and training to raise our employees’ risk awareness and enable them to prevent and detect potential corruption issues. We work continually to identify, evaluate, avoid or mitigate corruption risks at different stages in our value chain, core business processes and activities
Our principles and standards of conduct are set out in the Nordex guidelines and, in particular, our Nordex Group Code of Conduct for Employees and our Code of Conduct for Contractors and Suppliers.
Nordex Group employees as well as our business partners’ employees can use the Whistleblower System “Notify!” to submit and discuss any indications of misconduct, irregularities or maladministration in connection with the Nordex Group’s business activities.
THE GUIDING PRINCIPLE: HUMAN RIGHTS
In keeping with the United Nations Guiding Principles on Business and Human Rights (UNGPs), our Human Rights Policy is an expression of our commitment to the United Nations Universal Declaration of Human Rights, the International Labour Organisation’s (ILO) core labour standards, and the ILO’s Declaration on Fundamental Principles and Rights at Work. We follow the OECD Guidelines for Multinational Enterprises and the principles outlined in the UN Global Compact, as well as international legislation, wherever we operate.
We also make efforts to address key issues relevant to our sector, business activity, and supply chains, including modern slavery and exploitative labour practices; child labour; all forms of discrimination; fair wages, working hours, and conditions; health, and safety; and the right to freedom of association.
ESG Governance
We actively engage with our internal and external stakeholders to develop structural engagement processes. With this, we aim to ensure transparency as well as cooperative development and improvements regarding ESG topics.
Internally, this involves integrating sustainability into our business culture, as well as developing and strengthening governance structures and processes which enable the coordination and management of sustainability measures, including aspects of good governance such as board refreshment, independence, and ESG-related remuneration. Externally, we intend to meet our stakeholders’ growing demand for information by engaging in a dialogue with our key stakeholder groups, monitoring environmental indicators, and enhancing and reporting on our sustainability performance.
ANCHORING SUSTAINABILITY IN OUR CORPORATE CULTURE
In order to anchor sustainability more firmly in the company, we strengthened various measures for internal sustainability communication. For example, an extensive employee survey which evaluated employee communication on sustainability issues was carried out as part of our strategy development process in 2021. Around 1,000 employees worldwide took part in the survey. Around 90% of the survey respondents stated that it is important or very important to them to work for a company that contributes to climate protection and sustainable development through its business model. This is encouraging with regard to the ambitious measures in our new Sustainability Strategy 2025.
The employee perception of sustainability progress at our company and the evaluation of core topics, gaps, and suggestions were also helpful. We take these into consideration in the annual evaluation of our sustainability activities.