GF is a globally active and diversified industrial Corporation. It complies fully with all relevant laws and regulations in the jurisdictions of its operations and upholds all relevant international standards. GF’s business conduct and corporate strategy are founded on its values. The organization sees financial transparency, open communication, social responsibility as an employer, and actions informed by environmental awareness as part of its corporate responsibility.
Good corporate governance and corporate compliance
Good corporate governance underpins all of GF's business activities. To assist the Board of Directors in their duties, the Sustainability Committee advises it on the sustainability strategy, targets, initiatives, and legislation regarding ESG topics. For more information, please see: Nomination and Sustainability Committee Charter, Organization and Business Rules 2021, and the Corporate Governance chapter in the Annual Report 2020.
Corporate Compliance is part of GF's ethical business conduct. Various trainings and measures organized by the Corporate Compliance Officer (CCO) helps Corporate Companies comply with the law, internal directives, and the Corporation’s principles of business ethics in their business activities. Furthermore, all GF employees have to report compliance violations anonymously to the CCO. The current system will be extended to all third parties and will be in line with the EU Directive on the protection of whistleblower, see Annual Report 2020 for more details.
Sustainability management at GF
In its daily activities, the Corporation has two overarching priorities: its customers and its employees.
GF wants to offer its customers the best quality and maximum value-added while staying at the cutting edge of product development. The innovation process of the three divisions includes life cycle assessments, which help to provide the details for development of new, sustainable, and innovate solutions to GF's customers. The raw materials used for GF products are sourced responsibly, with clear expectations included in the GF Corporate Conflict Minerals Policy.
GF works in a broad range of industries and cultures. As such, it aims to create a working environment characterized by mutual respect, diversity, and engagement. During regular performance reviews of GF's employees, they and their line managers agree on the goals and individual development plans. Employee retention plays a major role in the ongoing success of GF as diverse and skilled talent supports future business growth. The Corporation's Human Rights Policy underlines GF's commitment to maintain and improve internal processes to avoid potential human rights issues in GF's supply chain and in its products.
Safety is a top priority in every GF location. Therefore, the Corporation defined an extensive set of safety standards that apply to all and are implemented at each site. Zero workplace accidents is the goal.
GF is proud of its long history and reputation. The Corporation continuously invests in modernizing its production sites, office facilities, and vehicle fleet, with a long-term view to enhance efficiency and further reduce its environmental impact. The GF Corporate Environmental Policy describes GF's commitment towards environmental protection, the management approach, and its efforts to find new solutions for reuse of natural resources. The GF Corporate E-mobility Policy aims to transform GF's global vehicle fleet towards efficiency and electrification.
GF's products and solutions are manufactured based on sound environmental management practices. The environmental challenges of climate change and resource scarcity require GF to become more efficient and to decouple resource consumption from growth. In particular, GF aims within the Strategy 2025 to reduce greenhouse gas (GHG) emissions in line with the Paris Agreement and the Science-Based Targets initiative (SBTi), reduce the waste sent to landfill, reduce water consumption in water-scarce and water-stressed areas, and conduct sustainability assessments of its supply chain. Apart from GHG emissions, GF also measures and tracks other air emissions. The quantities of volatile organic compounds (VOCs), particulate matter (PM), sulphur oxides (SOx), and nitrous oxides (NOx) are very low. For details, please refer to the Sustainability Report 2020.
GF’s social responsibilities extend far beyond its own business activities - it addresses a wealth of sustainability issues within the Corporation's value chain. At GF, we are always looking for new collaborations with the Corporation's stakeholders to find common solutions to address sustainability challenges.
Beyond the core business activities, the charitable arm of the Corporation represents an active contribution to cultural, social, and environmental issues. For more details, please refer to the respective section on GF's website.
Annual reporting to CDP
A- score in 2020 Climate Change rating
GF is a UN Global Compact participant.