Suppliers and materials
Supplier management requirements have expanded beyond a globally connected world. Modern technologies are requiring raw materials that often come from unstable regions in the world. Climate change is also having an impact on supply chains. The Schaeffler Group views sustainable procurement, which applies to the responsible use of critical materials, human rights, and environmental and social standards, as key to integrity-based governance.
The fundamental values that shape supply chain requirements are based on internationally recognized standards and principles, which are also anchored in the Schaeffler Group’s Codes of Conduct. To reinforce these values, the company relies first and foremost on active communication with all of its business partners, effective monitoring, and assessments. For instance, rather than sourcing conflict minerals, the Schaeffler Group works with certified suppliers.
The Schaeffler Group’s supplier and raw material activities contribute to the following Sustainable Development Goals (SDGs): “Decent Work and Economic Growth” (SDG 8), “Responsible Consumption and Production” (SDG 12), and “Partnerships for the Goals” (SDG 17). The company’s strategic target is to source 90 % of the purchasing volume of production materials from suppliers with sustainability self-assessments by 2022.