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
Responsible sourcing means the secure and sustainable purchase of materials and services in order to ensure timely production and construction of wind turbines. We source products and services from numerous suppliers based in a wide range of countries and generate a significant share of value in our upstream production stages. Our Global Sourcing department ensures that the required products and
services are sourced in the right quality, at the right time, and at the right cost.
STANDARDS FOR RESPONSIBLE INTERNATIONAL COLLABORATION
For us, it is vital to ensure that our own environmental and social standards are maintained throughout our supply chain. The Nordex Group Code of Conduct for Contractors and Suppliers forms the basis for this, and we expect and require all of our contractors and suppliers to comply with it for the entire duration of their business relationship with the us. Furthermore, the Principles of the UN Global Compact on Human Rights, Labor, Environment, and Anti-Corruption provide fundamental guidance for our business activities. Our supplier due diligence approach covers all demands placed on our suppliers regarding finance, quality, compliance as well as social and environmental aspects along the supply chain to meet all legal and business requirements. To ensure compliance with our values, we regularly conduct an assessment of relevant suppliers in the form of visits and audits. In addition, our processes require that we qualify new suppliers regarding their working practices, upholding of human rights, impact on society, and environmental aspects, before engaging in a business relationship with them.
Business Ethics, Compliance and Integrity
Our company is committed to using resources in full awareness of our legal, social, environmental, and economic responsibilities. We treat all people we interact with with a clear sense of social responsibility. We collaborate respectfully with our customers, suppliers, contractors and shareholders, as well as with local communities. All our business decisions and activities are based on our strict compliance with laws and regulations which are applicable in the countries where we do business as well as our strong company values.
Our principles and standards of conduct are set out in the Nordex guidelines and, in particular, our Code of Conduct for Employees and our Code of Conduct for Contractors and Suppliers.
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.
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.
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UPHOLDING 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 further anchor sustainability more firmly in the company, we look for opportunities for our employees to participate in sustainability issues. For example, an introduction to Nordex’s Sustainability department, strategy and activities is a fixed component of the onboarding process for new employees. At our headquarter in Hamburg, Germany, we organize annual Sustainability and Health Days to highlight many facets of sustainability through a program of talks, workshops and information stands.