As a key player in the energy supply sector, we are aware of our responsibility. The interests of our stakeholders are at the forefront of this. Sustainability is also an integral part of our business. We provide energy that is affordable, sustainable and reliable. Maintaining a balance is a challenge, not only for STEAG, but for the entire energy system.
We are convinced that our strategy will ensure that we can continue to provide affordable and secure electricity and decentralized heat while achieving our goal of becoming climate-neutral by 2040.
In the area of social responsibility, we have developed a range of measures to ensure that our own employees and business partners are treated responsibly. These include the promotion of equality and diversity, work-life balance and occupational safety.
In 2023, we set our first environmental, social and governance (ESG) targets to drive sustainability in those areas.
Our aim is to report transparently on our actions and introduce further improvements in order to achieve our goals.
By setting our climate neutrality target, we are positioning ourselves with our newly created Group subsidiary Iqony and the traditional power plant business as an active shaper and thus enabler of a successful energy transition in Germany.
We are continuing to invest in the development of solutions to meet the challenges in the energy sector. STEAG subsidiary Iqony is cooperating with other companies to develop new renewable energy sources.
The long-term success of our company depends on our ability to attract, retain and motivate qualified employees. We therefore invest in the health and well-being of our staff. We promote equality and diversity, a good work-life balance, flexible working and the integration of people with disabilities into our workforce.
Consistent and collaborative supplier relationships enable us to create added value and take responsibility for our society and our environment.
A modern purchasing organization is of crucial importance to us when it comes to meeting market requirements. We therefore continuously adapt our procurement strategies to reflect changing market conditions. We integrate sustainability criteria into our procurement decisions and take environmental impact, ethical standards and social responsibility into account.
The new German Act on Corporate Due Diligence Obligations in Supply Chains (LkSG) further strengthens this responsibility. We are committed to this obligation and review our supply chains for potential risks to people and the environment. If we identify risks, we actively involve our employees and experts in human rights and environmental due diligence processes, and develop preventive measures.
Our Supplier Code of Conduct forms the basis for good and trusting cooperation. Together, we take responsibility for continuing to minimize our impact on people and the environment. Our commitment to acting responsibly is also reflected in the fact that we have been an active member of the UN Global Compact since 2011.
LkSG training for our business partners:
Dealing lawfully and responsibly with each other and with our fellow human beings, customers and partners is of crucial importance to us in ensuring the success of our company and the trust of our employees, customers and business partners.
The main components of our approach to promoting, implementing and ensuring ethical behavior at STEAG are the Compliance Management System and our Code of Conduct.
Our Code of Conduct sets out our standards for dealing with important behavioral issues such as bribery and corruption, fraud and conflicts of interest. As a participant in the UN Global Compact Initiative, STEAG supports the implementation of the principles relating to human rights, labor standards, environmental protection and anti-corruption.
STEAG is committed to its duty of care with regard to human rights. In order to fulfill the requirements of the LkSG, we have defined procedures and implemented preventive measures. Among other things, we have published a policy statement, carried out an abstract risk analysis for our own business area and the supply chain, and expanded our whistleblower system.
The Compliance department has also been appointed by the management as a human rights officer for the purposes of Section 4 (3) of the German Act on Corporate Due Diligence Obligations in Supply Chains (LkSG). Our reporting channels are available to all the persons affected within the company and all our partners along the supply chain, enabling them to report any human rights or environmental issues to us.
With our Compliance Management System, the STEAG Code of Conduct, the Supplier Code of Conduct and the established Chief Compliance Function, we endeavor to counter any risks that may arise appropriately and effectively.
It is of crucial importance to STEAG that all employees are sensitized to compliance issues so that they act responsibly and in accordance with legal and corporate regulations. To ensure this, we are successively expanding classroom training and e-learning programs on compliance topics and the Code of Conduct.