We have identified the key issues for sustainable corporate governance in the RWE Group based on an analysis of our value chain. Each part of our value chain has specific challenges (Value Chain).
However, our sustainable corporate governance is also determined by the varying requirements in the countries where we are operating. The European Union defines uniform framework conditions on many issues but there are differing political objectives at national level. The expectations of our stakeholders also vary depending on countries and regions. We interpret our stakeholders as being all the individuals and organisations who we already interact with. Stakeholders are also people we engage with in dialogue or who seek dialogue with us. We also regard anyone who is interested in our company as a stakeholder.
The CR Report 2012 includes a detailed description of the countries and regions where we have operations to highlight this initial position and to indicate the differing framework conditions from country to country (Countries). We present the dialogue with our stakeholders in a separate section (Stakeholder dialogue).
In 2007, we identified ten ‘areas for action’ from the variety of sustainability issues resulting from our value chain and from the countries and regions:
- Climate Protection
- Energy Efficiency
- Security of Supply
- Supply Chain
- Pricing and Marketplace
- Employees and Demographic Change
- Occupational Safety and Healthcare Management
- Environmental Protection
- Community Engagement
We recorded the aspirations of our stakeholders and the internal perspective of our company in a large number of forums and discussions. We then took these views into account when we developed the areas for action. The Group considers the ten areas for action to be the most important sustainability issues for RWE. However, the weightings attributed to the areas for action may well be different in individual countries and regions.
The areas for action mean that we are in a position to present a systematic profile of sustainable development within the RWE Group and continuously track its progress through the target parameters and indicators.
The areas of action underlie a permanent alignment. The weightings attributed to the areas for action are continuously shifting in accordance with the expectations of our stakeholders and the changes that occur within society, business and politics. The section on materiality addresses this in more detail (Materiality analysis).
Now that some five years have elapsed, we are carrying out a fundamental assessment of the ten areas for action. During the second half of 2012, we launched a process of review for our CR Strategy. We have joined forces with the operating companies in order to review the appropriateness of the areas for action, assess whether they are still fit for purpose and work out focuses for the future of our CR Management. We look set to have completed this process in the second quarter of 2013 and we will then implement the results.