Communication with Stakeholders
Companies must have the consent and support of society. We want to maintain regular and open dialogue with all stakeholders. This is one of our business principles. We believe that dialogue offers us an opportunity to prepare for new challenges promptly, avoid risks and realize our full potential.
WACKER constantly communicates with a number of stakeholder groups throughout the world: employees, customers, suppliers, analysts, investors, journalists, scientists, neighbors and politicians, as well as representatives from NGOs, authorities and associations. We conduct this dialogue in many ways – through the outreach activities of WACKER’s various management levels, sites and departments. The focus is always on face-to-face discussions, i.e. on direct contact. What’s more, we communicate with stakeholders through:
- Surveys (e.g. on workplace safety, sustainability and reputation)
- Publications (annual report, press releases, employee newspaper, etc.)
- Special events (open-house days, supplier days, investor roadshows, management events, etc.)
- Committee work and presentations
Effective and Long-Lasting Employee Dialogue
The groupwide employee survey that was held in 2018 covered the topic of sustainability. 73 percent of employees around the world agreed with the following statement: “In my organizational unit, we value sustainability.”
To raise the profile of the topic of “Sustainable Corporate Management” further within the Group, the Corporate Sustainability unit launched an internal sustainability week in September 2018. The campaign focused on the UN’s 17 Sustainable Development Goals and illustrated the contributions that both the company and its employees make in this field. The importance of the Sustainable Development Goals is also explained in a film clip in the online version.
WACKER appointed sustainability ambassadors, who supported the campaign by presenting topics and motivating employees at their sites to make a contribution. A total of ten sites took part, holding 28 activities on topics such as avoidance of trash, getting to work in an environmentally friendly way, and the efficient use of resources during production. The various activities were assessed by criteria such as dedication, scope, impact on society and the environment, and their connection to WACKER’s business model. The Sustainability Council awarded the title of “Sustainability Ambassador 2018” to a team from WACKER Greater China, which offered its employees a week-long program of activities.
WACKER has been participating in the sustainability assessments of the Carbon Disclosure Project (CDP) since 2007. Wacker Chemie AG took part in the Climate Change and Water Security surveys for the chemical sector in 2018. In the CDP’s Climate Change Report, WACKER achieved a B (Management) on a scale from A (Leadership) to D (Disclosure). 2018 was the first year we took part in the Water Security questionnaire, achieving a D (Disclosure) on a scale from A (Leadership) to D (Disclosure). Registered CDP users can download the details of both these reports.
During the reporting period, we underwent the ISS-oekom Corporate Responsibility Rating procedure and achieved a B- (Prime Status). 108 chemical-sector companies were rated, including manufacturers of petrochemicals and specialty chemicals, polymers, agrochemicals, seed and other materials. Eight companies in total achieved Prime Status; consult the industry-specific report for details.
We achieved “Outperformer” status in the sustainability ranking performed by Sustainalytics; our environmental management systems were rated as being very strong environmental management systems.
We were ranked A in the 2017 sustainability assessment carried out by MSCI (Morgan Stanley Capital International), who noted that our Corporate governance practices are generally well aligned with shareholder interests.
As in past reports, WACKER underwent social audits during the current reporting period. In recent years, these audits have been mainly required by the consumer goods sector, which established an information and collaboration platform called SEDEX. WACKER is a member of this platform. In the period under review, the auditors inspected the sites at Jandira (Brazil) and Adrian (USA) against the SMETA 6.0 Standard (SMETA = SEDEX Members Ethical Trade Audits). The results can be viewed on the SEDEX Global platform.
We achieved Gold Level in re-assessments by EcoVadis CSR Ratings in 2017 and 2018.