Our Sustainability Approach
Focus on Eight Material Topics
Sustainability is a broad subject area with points of contact in virtually all aspects of the business activities. Therefore, we conducted a materiality analysis to identify where we as a company have the largest impacts on society, the environment and the economy, and to find out what the relevant topics for our stakeholders are. In this process, we gathered the assessments and expectations of the various stakeholder groups – investors, customers, employees and suppliers – online and in personal discussions. This materiality matrix serves as an orientation and focus for the further integration of sustainability into our business activities. It will be reviewed at regular intervals in the future and adjusted as necessary.
We have identified the topics marked in red in the chart as being material. In addition, several operational topics have been identified (blue). While these topics are important to us, we will not pursue them with the same strategic approach. However, they will be continuously integrated in our operational business activities by the business departments. The remaining topics (black) may have increased relevance, for example at a specific subsidiary, but not across the entire Group. We will address these topics on a situational basis.
To integrate the eight material topics and advance our management approaches for them, we have defined a topic leader for each material topic. Additionally, contributors from across the Burckhardt Compression Group have been identified to collaborate with the topic leader.
Strategic Alignment with the Sustainable Development Goals
Burckhardt Compression is committed to support the Sustainable Development Goals (SDGs) defined by the United Nations. These SDG address the world’s most urgent sustainability challenges and are to be achieved within the framework of the 2030 agenda for a sustainable development.
Our strategic approach to sustainability builds on our eight material topics and is aligned with the SDG mentioned above. We have stated five sustainability purposes, each linked to a strategic SDG and directly related to our material topics:
- Safeguarding human health (SDG 3: Good health and well-being)
- Promoting prosperous work (SDG 8: Decent work and economic growth)
- Tackling climate change (SDG 13: Climate action)
- Driving energy transition (SDG 7: Affordable and clean energy)
- Valuing natural resources (SDG 12: Responsible consumption and production)
We have also identified additional six SDG to which we have a potential direct contribution. We will report on progress toward the SDG in our Sustainability Report.
Firmly Anchored Sustainability Governance
Sustainability is anchored right at the top of our organization and is closely linked to our strategy. Oversight of all sustainability related activities is located at the Board of Directors. Its Strategy and Sustainability Committee supports the CEO in developing a corporate strategy and advises the Board of Directors on strategic and sustainability matters.
All members of the Executive Management are also members of the Executive Sustainability Team responsible for the strategic approach on group level as well as for the accountability of our sustainability roadmap.
Each material topic is led by a member of the top management. These topic leaders form the Sustainability Steering Group with the responsibility to implement the sustainability roadmap and define specific management approaches for each topic.
Implementation support is provided by appointed subject experts and local key personal in the subsidiaries on a global level. They support with technical expertise and ensure the local implementation.
An appointed Sustainability Manager leads and facilitates all sustainability related activities on Group level and supports as a subject matter specialist all functions and subsidiaries in the implementation of the sustainability roadmap.