Wieland Group publishes progress report on sustainability strategy
- Decision to make extensive investments in recycling business put into practice
- Product solutions with a low carbon footprint
On May 31, the Wieland Group published its Sustainability Report for the past 2020/21 fiscal year, reporting non-financial information and describing its sustainability strategy. The focus is on the progress made in environmental, social, and governance (ESG) matters.
The progress report is published with the title "Creating value over generations". Wieland uses the report to map out its long-term transformation outlook and combines commercial success with sustainable action.
"The basis of our sustainability management involves establishing sustainability both in our core business and in Wieland’s corporate culture," says CEO Dr. Erwin Mayr, explaining the company’s strategic orientation.
The overall conditions are changing due to state regulation such as the planned EU Taxonomy and are also being driven by market forces. Wieland is pursuing its projects for the future in this dynamic environment: "We see sustainability as neither a label nor a secondary activity, but as part of our business model and, as a result, as a key competitive factor. As an industry pioneer, we aim to set the standards for eco-friendly products in our line of business," Dr. Erwin Mayr confirms the company’s ambition.
Progress in strategic focus fields
On the basis of a materiality analysis, Wieland is focusing on strategic focus fields and pursuing medium-term goals for the period leading up to 2030 in each case. In the reporting year, Wieland reduced greenhouse gases (GHG) from direct production (Scope 1) and energy use (Scope 2), among other things, by ten percent compared to the 2018/19 baseline. With the expansion of green power purchase agreements, combined with the systematic electrification of the company’s production facilities, the company is already aiming for the next round of reductions.
Wieland can already report a high recycling rate of 74% in its customer products and is aiming for a figure of over 90% by 2030. By investing in a recycling center in Shelbyville and acquiring the US recycling specialist Totall Metal Recycling in Granite City, Wieland is expanding its market leadership in the US when it comes to the recycling of red metals. The new capacities will allow Wieland to increasingly establish closed-loop recycling systems, thus reducing the indirect
Scope 3 emissions caused by the use of virgin metals.
Wieland is also providing impetus for a diverse and inclusive workforce. The proportion of women in management positions increased to 14% during the reporting year and is expected to rise to at least 20% by 2030.
Sustainability as a criterion for entrepreneurial decisions
Wieland is using various vehicles to further develop its business model in line with its sustainability agenda. Initial calculations of the carbon footprint for individual product groups using the cradle-to-gate approach will further increase transparency for customers in the future. Another lever is the use of ESG criteria for capital expenditure (CapEx), something that banks and investors alike are attaching increasing importance to. The Group is also making strategic investments in innovative GreenTech start-ups through its venture capital subsidiary Wieland Ventures, focusing on sustainable business models.
International reporting standards and initiatives
The Sustainability Report complies with the international standards set out by the Global Reporting Initiative (GRI). Wieland is currently having its emissions targets validated by the Science Based Targets Initiative (SBTi) and, as a signatory to the United Nations Global Compact (UNGC), actively supports the ten principles of sustainable corporate governance.
The current report is available on our website.
Get in touch
Michael Demmer | Senior Vice President, Strategy and Business Development
Graf-Arco-Straße 36 | 89079 Ulm | Germany
P +49 731 944 2233 | email@example.com
Pia T. Dürrschnabel | Director Sustainability
Graf-Arco-Straße 36 | 89079 Ulm | Germany
P +49 152 55325461 | firstname.lastname@example.org