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Strategy and Governance

At Groz-Beckert, business success is not measured by key figures alone. Traditionally, we strive to act in accordance with social standards, ethical ideas and the rules offair and equitable cooperation.

To ensure that we succeed in doing this as a global industrial group today as we did 170 years ago, we carried out a materiality analysis in accordance with GRI in 2021. It highlights where we as a company have a material impact on the environment and our society and where we are exposed to risks. Based on the material topics identified, we have defined corporate goals and corresponding measures for Groz-Beckert, which we monitore according to a defined process and which are adjusted if required.

In line with the CSRD, we are currently revising our materiality analysis to reflect dual materiality.

Our goals in the area of Strategy and Governance

Compliance Management System

We will introduce a compliance management system (CMS) by 2023 and regularly review its effectiveness in order to identify compliance risks in the company at an early stage. (Target achieved)

Risk Management System

We will develop the existing risk management system into a risk management system appropriate for Groz-Beckert and will establish this in the company in 2024.

Compliance in Supplier Management

At Groz-Beckert, we regard compliance in supplier management as a fundamental responsibility of a globally active company.

We firmly believe that a stable and secure supply chain not only contributes to this, but also forms the basis for long-term, trusting partnerships.

Our commitment to ethical standards in our supply chain not only strengthens the trust of our customers and employees, but also forms the basis of our duty of care. For this reason, our Supplier Code of Conduct is a central part of how our collaboration.

Further information

Transparent commitment

Groz-Beckert is represented on the sustainability platform Integrity Next. Here we inform our customers, partners and other interested stakeholders about our commitment to sustainability and our measures in the area of compliance. You can also download our current certificates – from the ISO catalog, for example – from the platform. This enables you, our customers and partners, to meet your legal obligations in the supply chain.

We also set out our rules of behavior and values in our Code of Conduct. It gives us guidance for our daily professional actions as employees, managers and colleagues, and serves as a compass in our interactions with customers, suppliers and partners. Our Code of Conduct applies to everyone at Groz-Beckert. We also expect our business partners to follow the principles of Groz-Beckert’s Code of Conduct.

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