Kendrion values its relationships with its stakeholders and engages with important stakeholders on CSR strategy, activities and underlying objectives. The exchange of best practices and experiences and making active use of its networks add to Kendrion’s CSR activities in a constructive manner. Kendrion’s stakeholders include customers, suppliers, employees, investors, the local communities in which Kendrion is active and other relevant parties such as technical universities, schools and institutes. Kendrion’s stakeholders also consider the importance of sustainable business practices that are supported by concrete targets. With its own CSR strategy, Kendrion also intends to contribute to the achievement of the respective CSR targets of its stakeholders.
A substantial number of Kendrion’s customers are major tier 1 suppliers and OEMs in the automotive sector, or other large industrial companies. Increasingly these customers have implemented CSR and sustainability requirements for suppliers. Kendrion focuses on consistent compliance with their requirements, including quality and environmental requirements.
Kendrion expects its suppliers to adhere to the standards of the Kendrion Supplier Code of Conduct. A substantial number of Kendrion’s suppliers have signed the Supplier Code of Conduct in recent years, and Kendrion follows a consistent approach towards the performance of CSR audits at its suppliers. These efforts contribute to the further improvement of Kendrion’s supply chain.
Kendrion’s employees are the company’s most valuable resource. Kendrion undertakes efforts to create the right culture and conditions to attract and retain the right people with the right capabilities. The opportunities Kendrion offers for career development and personal growth in a safe and attractive working environment are an important motivational factor for employees. An engaged and committed workforce contributes to the achievement of Kendrion’s overall business goals, including CSR-related goals and ambitions.
Investors commonly acknowledge that the companies they invest in have an impact on the environment and society. The endorsement of sustainable development and addressing environmental, social and governance (ESG) related matters is becoming increasingly important for Kendrion’s investors. Kendrion engages with its major shareholders and banks, not only concerning Kendrion’s CSR strategy, its material topics and objectives, but also about the ESG policies and activities of its major shareholders and banks.
Through its local community investment programme ‘Together@Kendrion’, Kendrion is committed to making a positive contribution to the reduction of social and economic gaps, specifically in the jurisdictions where Kendrion conducts its business activities. Kendrion appreciates the importance of maintaining constructive and appropriate contacts with local authorities.
Technical universities, schools and institutes
With its CSR strategy, Kendrion also expresses to contribute to a better and sustainable standard of living for future generations. Active engagement with students is key to understanding their views and observations on CSR and forms a valuable platform for the exchange of knowledge and experiences. Dialogues with students are often inspirational and stimulate the formulation of innovative CSR-related goals and ambitions. These dialogues also raise awareness among students about sustainability and its importance. Kendrion maintains contacts with technical universities, schools and other relevant institutes by attending fairs, organising student events, projects and workshops and offering internships. Student events were organised in 2017 that focused exclusively on CSR and exchanging knowledge and experiences relating to CSR.
It is anticipated to further engage with Kendrion’s stakeholders in 2018 to gain deeper insight into the relevance and importance of CSR related themes for Kendrion and its stakeholders and the reasonable expectations of stakeholders. Following this further engagement, Kendrion may decide to adjust the material topics for the three pillars of value creation and the selection of SDGs as described. The outcome of such further stakeholder engagement may also lead to the identification of associated targets relevant to the SDGs concerned.