Alongside our dynamic growth, we announced that we achieved our sustainability goals for 2023. We recently became a member of SBTi and are therefore committed to meeting strict CO2 reduction targets. We also achieved EcoVadis Platinum status last year, which pushes Vetter in the top one percent of participants in the globally renowned sustainability ranking. Since 2021, we have voluntarily published an annual sustainability report, thereby setting an example for the compatibility of economic success and the implementation of ambitious sustainability goals in a high-energy consuming industry.
Vetter Managing Director Thomas Otto says: "Sustainable growth is not a marketing buzzword for us. We have made a very conscious decision to prioritize growing our sustainability goals dynamically in conjunction with the company's sustainable growth, and we publish status updates in a report that is accessible to everyone. This transparency also strengthens our customers' trust in us and supports them in their own sustainability reporting."
We adhere to strict climate protection standards for businesses
We joined SBTi at the end of 2023. Members commit to contributing to a target of no more than 1.5 degrees Celsius of global warming. The initiative focuses on putting companies worldwide on track to halve their emissions by 2030 and become climate neutral by 2050. To achieve CO2 neutrality, we need to reduce our annual emissions by 4.2 percent.
As Senior Vice President Technical Service and Internal Project Management, Henryk Badack is responsible for our global sustainability activities and explains: "We are continuously investing in more efficient and climate-friendly processes. Joining the SBTi was the logical next step for us towards achieving Net Zero carbon emissions. To this end, we have defined a plan that sets out the specific measures we will take each year to further reduce our CO2 emissions. In view of the EU Sustainability Reporting Directive, which will apply to us beginning in the 2025/2026 financial year, we are proactively introducing CO2 reporting in accordance with the Greenhouse Gas Protocol."
We have invested one million Euros in the construction of a large photovoltaic (PV) system on the roof of our state-of-the-art materials warehouse at the Ravensburg West site. The natural gas cogeneration plant at the site was also converted to biogas for a six-figure Euro sum. Since then, the PV system has generated around 700,000 kWh of electricity per year, which equates to around 10 percent of the site's electricity consumption. This reduces CO2 emissions by roughly 330 tons per year. The conversion to biogas saves around 1,000 tons of CO2 each year.
We stand ready to implement EU supply chain legislation
Social responsibility is a long-prioritized part of our corporate philosophy and is firmly anchored in our sustainability strategy. We commit ourselves and our business partners to a clearly defined code of conduct. With the help of the implemented compliance management system, we drive employees and partners to adhere to the compliance requirements. We have introduced processes to assess compliance-related risks with business partners in order to also take these aspects of sustainability management into account.
Vetter Managing Director Peter Soelkner explains: "We support the objectives of the Supply Chain Due Diligence Act. Many of these requirements were already part of our compliance processes. In view of the upcoming EU Directive, we believe that politicians have a duty to maintain a balance between regulatory compliance and fostering a conducive environment for successful entrepreneurial action.”
Learn more about the new Vetter sustainability report here.
