PALFINGER takes into account the consequences of its operations along the entire value creation chain and engages its stakeholders. The relevant aspects have been grouped into the following topics: responsible employer, eco-efficiency in production, sustainable products and fair business.
PALFINGER’s sound financial basis, the quality of its products and services, and its integrated focus on sustainability are the foundations of the Company’s success. PALFINGER measures its value enhancement by means of financial and non-financial indicators.
In the materiality analysis carried out in 2017, the material economic, social, ecological and ethical aspects that are of strategic significance to the Company, both from an internal and an external perspective, were defined in a multi-stage process, including a stakeholder survey. In 2018, the 13 most important sustainability topics from the materiality analysis 2017 were reviewed internally with regard to their significance. Product safety as well as research and development continue to be the topics with the greatest significance and highest impact.
- Product Safety
- R & D for Products
- Innovation in Production
- Viability of Business Model
- Health & Safety
- Product Lifecycle
- Employee Development
- Energy Efficiency & Climate Protection
- Raw Materials Demand & Efficiency
- Attractive employment
- Corporate Culture & Values
- Compliance with legal & eth. Standards
- Industry 4.0 & Digitalization
Indicators and targets
The non-financial indicators are in line with the results of the materiality analysis. Internal reporting structures and systems are integrated into financial reporting; data is collected on a monthly or quarterly basis. PALFINGER adopted additional long-term environmental targets to be met by 2030: the improvement of energy efficiency and the reduction of hazardous waste (index) by 30 percentage points each. In addition, 75 per cent of the Group's electricity is to be generated from renewable energy sources by 2022.
The Executive Board cooperates with other executives in defining the strategy, policies and values of the Company. The results of the materiality analysis as well as the sustainability programme and targets are adopted by the Executive Board. The individual measures that form PALFINGER’s sustainability programme are broken down according to the four sustainability areas. The purpose of these measures is to contribute to achieving the qualitative and quantitative goals set by PALFINGER and to support the most relevant Sustainable Development Goals (SDGs).