Corporate strategy and values
- Sustainability is an integral part of the Schaeffler Group’s corporate values and thus both an obligation and opportunity
- The subprogram “Sustainability & Engagement” anchors sustainability in the corporate strategy Roadmap 2025
Corporate strategy – Roadmap 2025
The Roadmap 2025 conceptual framework consists of three key elements:
- The Strategy 2025 defines the strategic approach and the course of action
- The Execution Program 2025 defines seven specific subprograms
- The Mid-term Targets 2025 provide a financial objective and correspond with the overarching aim of generating value over the long term
Divisional and cross-divisional subprograms
The Strategy 2025 should always be implemented in accordance with social and environmental requirements. The cross-divisional “Sustainability & Engagement” subprogram was thus defined in an effort to emphasize priority and properly accommodate the four company values: Sustainable, Innovative, Excellent, and Passionate.
Sustainable Development Goals
The Schaeffler Group contributes to the realization of the following SDGs, for example, with a variety of activities and product solutions:
Goal 3: Good Health and Well-Being
The health and well-being of the employees are important to the Schaeffler Group. As part of occupational health and safety activities, work-related threats are being identified to reduce the risk of illness and accidents. The comprehensive approach of occupational health and safety also improves the working situation as well as the management and corporate culture in equal measure.
Goal 4: Quality Education
Quality training and the development of young talents has always been a high priority for the Schaeffler Group. In 2020, the company employed 2,724 apprentices at 50 locations in 16 countries worldwide. They are prepared for new challenges in pioneering projects – e.g. using augmented reality concepts in the form of virtual welding simulators and 3D printer construction.
Goal 5: Gender Equality
The Company also promotes equal opportunity and training and is socially active in an effort to strengthen “Gender Equality”. As of June 30, 2017, target ratios for the proportion of women were set within Schaeffler AG. The target rates are an 8 % proportion of women on the first and a 12 % proportion of women on the second management level below the Executive Board. These targets will ultimately be achieved group-wide, beginning with Schaeffler AG by June 30, 2022.
Goal 6: Clean Water and Sanitation
The scarcity of global water resources is steadily progressing. The issue of water was integrated into Schaeffler’s risk management in order to respond to potential water shortages in certain regions. In an effort to minimize water-related production risks by systematically reducing water dependence, a long-term target for reducing the freshwater withdrawal by 20 % by 2030 was adopted in 2021.
Goal 7: Affordable and Clean Energy
Yet while electricity from wind, sunlight, and hydropower is becoming increasingly affordable, availability fluctuates and is unequally distributed around the world. As a universal energy source that is both storable and transportable, hydrogen plays a decisive role. To ensure that hydrogen can be used in sufficient quality around the world, the Schaeffler Group has developed key components for fuel cells.
Goal 8: Decent Work and Economic Growth
For the Schaeffler Group, as a global family business with a strong foundation in its values, respect for human rights is an indispensable part of corporate responsibility. The company rejects any form of human rights violations such as child and forced labor or discrimination based on racial/ethnic origin, color, or gender. Respect for human rights is part of the group-wide Code of Conduct and our Supplier Code of Conduct.
Goal 9: Industry, Innovation and Infrastructure
The Industrial division offers a variety of solutions with rotary and linear bearings for energy-efficient operation of machines and equipment. With diameters ranging from a few millimeters to several meters, the extensive bearing portfolio includes high-speed models for electric motors, high-performance spindles, and aircraft engines, and supports long-term solutions for the extractive industry as well as solutions with larger bearings for energy generation such as power plant turbines and wind turbines.
Goal 11: Sustainable Cities and Communities
The Schaeffler Group takes a holistic approach to developing innovative product solutions for the demands of the future – Schaeffler Industrial increases energy efficiency in wind turbines with its low-friction bearings. Automotive Technologies develops alternative drive technologies that help reduce the average CO2 emissions of vehicles. Automotive Aftermarket solutions extend the lifecycle of vehicles in accordance with the latest environmental standards.
Goal 12: Responsible Consumption and Production
The challenges associated with the increasing technical complexity and networking of vehicles are being resolved with innovative repair approaches. With innovative repair solutions, the company is helping to increase the service life of vehicles. The Schaeffler Group has laid the groundwork for a sustainable production, which includes measures to increase energy efficiency and the purchase of green electricity. As of 2020, 100 percent of the company’s purchased power in Germany comes from renewable sources.
Goal 13: Climate Action
As a leading technology company, the Schaeffler Group is also committed to creating its own processes as energy-efficient, eco-friendly, and resource-conserving as possible. For this purpose, the company relies on a continuous improvement for all environmental and energy relevant processes. With four strategic targets in the areas of carbon-neutral production, energy efficiency, renewable energies, and water withdrawal, the Schaeffler Group promotes measures for climate and environmental protection throughout its value chain.
Goal 17: Partnerships for the Goals
To establish a shared understanding of sustainability, the Schaeffler Group is active in a variety of initiatives and associations that promote standardized measures and processes for effective sustainability management. For example, the company is involved in multi-stakeholder initiatives such as the two industry dialogues of the National Action Plan on Business and Human Rights (NAP).