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Responsible corporate governance

Comprehensive sustainability strategy and consistent compliance

Filiz Albrecht

Sustainability is an integral part of our corporate culture – because it is the people at Bosch who turn abstract goals into measurable achievements.

Filiz Albrecht, member of the board of management and director of industrial relations

Clear strategy for more sustainability

Bosch’s sustainability strategy is based on concrete objectives in all focus areas. We have for many years now been consistently working to realize those objectives – and we have reached a first key milestone with carbon neutrality.

Graphic of the Bosch sustainability target vision: The six dimensions of the target vision are arranged in a hexagon. The climate action dimension includes the topics "reducing CO₂ emissions" and "energy efficiency and renewable energies". The water dimension includes the topics “water scarcity” and “water quality”. The circular economy dimension includes the topics of “materials efficiency” and “second life”. The diversity dimension includes the topics “equity” and “inclusion”. The human rights dimension includes the issues of “responsibility” and “transparency”. The health dimension includes the topics of "occupational safety" and "substances of concern". In the middle of the hexagon it says “New Dimensions Sustainability 2025”.
The target vision “New Dimensions – Sustainability 2025.”

Sustainability is frequently defined as a balance of economic, environmental, and social aspects. At the same time, sustainability has become an established concept on capital markets under the abbreviation ESG (environment, social, governance). Our comprehensive understanding of sustainability combines both of these approaches. It shapes our sustainability management, provides clear orientation at all levels, and ensures that our actions are effective. Accordingly, by acting in an economically, environmentally, and socially responsible manner, we want to improve people’s quality of life and safeguard the livelihoods of present and future generations.

Our “New Dimensions – Sustainability 2025” target vision translates this ambition into concrete terms. Derived from the megatrends affecting our company and the findings of our materiality analysis, these objectives set the frame for our activities in the years ahead.

Our target vision in detail

With our activities, we support the United Nations Sustainable Development Goals (SDGs) adopted in 2015. By regularly comparing them against our sustainability activities, we gauge where we as a company can make a concrete contribution to individual SDGs.

Clear designation of responsibility for sustainability

Sustainability is defined as a central task at Bosch. Clear responsibilities and decision-making processes secure day-to-day efficiency.

Presentation of the organization of sustainability at Bosch: At Bosch, the highest technical committee for sustain¬ability is the sustainability steering committee under the aegis of the CEO. The steering committee concerns itself with Bosch’s strategic orientation in relation to sustainability, whereas goal agreements and manage¬ment review for all sustainability-related issues are the responsibility of the CEO and the board of management member responsible for sustainability.
Find out more about how sustainability is organized at Bosch on page 14 of the sustainability report.

Focusing on what truly matters

We use a materiality analysis as the basis for defining the content focus of our sustainability activities.

Materiality matrix: Relevance of different sustainability topics assessed by stakeholders and by Bosch
Find out more about the materiality matrix on page 10 of the sustainability report.

Compliance – even beyond corporate boundaries

Compliance refers to the observance of legal requirements and company guidelines. At Bosch, this is an integral part of our corporate values. To this end, we have unequivocally defined our position on legal requirements and ethical issues in our globally applicable Code of Business Conduct. Together with the Bosch values, it provides a foundation that we believe is key to Bosch’s success in business. And because responsible and lawful conduct is important beyond company boundaries, we have formulated our expectations of our business partners in a corresponding code of conduct.

Dr. Stefan Hartung
Dr. Stefan Hartung, chairman of the board of management
Code of Business Conduct

Code of Business Conduct

Code of Conduct for Business Partners

Code of Conduct for Business Partners

Company-wide compliance management system

Bosch’s compliance management system provides a binding framework worldwide for promoting compliant conduct and serves to reduce compliance risks. It provides the basis for effective implementation of external and internal requirements and defines minimum requirements for processes of relevance for compliance. These include various prevention and control measures as well as the internal Bosch whistleblower system. Associates, business partners, and third parties can use this system at any time to report non-compliance, anonymously if they wish.

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