Annual Report 2023

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Creating tomorrow’s solutions

Processes and Tools

WACKER expects all its key suppliers to demonstrate a positive sustainability performance at regular intervals (at least every three years). These defined key suppliers cover more than 80 percent of the entire global procurement volume. Their sustainability performance must be demonstrated in the form of an EcoVadis assessment with a minimum score of 46 and/or a TfS audit with no major findings. The areas we look at as part of our review include sustainability management, environmental practices, labor and human rights, ethics and sustainable procurement. All of our key suppliers must fulfill this minimum requirement by 2030. We follow up on our targets in monthly management reports.

Above and beyond key suppliers, we also conduct a sustainability assessment with those suppliers who were determined by an annual risk analysis.

In the event of unsatisfactory results, we consult with the supplier involved and agree on action to be taken to make improvements. We follow up on progress and status with supplier talks as part of the annual supplier assessment, with reassessments or follow-up audits. Results and actions are recorded and tracked in an internal WACKER dashboard. Consistently poor results and lack of cooperation have consequences and may ultimately lead to business relations being terminated.

Risk Management

Risk Management (graphic)