Sustainability is an enormous business prospect for Cargotec.
Cargotec’s sustainability work is based on a holistic and balanced approach, taking into account the aspects of environment, people and society, and governance. By being a 1.5 degree company, we strive to create value for all stakeholders. We sense the urgency of climate action and consider the transformation towards a sustainable world as a major phenomenon that will change the whole industry.
We support transformation into a fair and prosperous society. With our purpose – smarter cargo flow for a better everyday – we drive resource efficiency in our industry, in order to reach a low-carbon economy and thus turn environmental challenges into opportunities. Our climate ambition can only be achieved via inclusive cooperation with all the participants in the value chain. Making the transition just and inclusive for all ties the social and good governance aspects into our climate ambition.
The consequences of climate change are not only environmental, but there are also significant financial and social impacts. To ensure financial stability and global wellbeing also for future generations, it is our obligation to act on climate now.
We conducted a materiality assessment in autumn 2019 to update our sustainability focus areas with feedback from the key stakeholder groups. The results of the assessment prove that climate solutions and safety remain high on the agenda. The key material topics are summarised above according to the Environment, Social and Governance (ESG) themes. There was no change in 2020 on the materiality assessment as the key topics have remained the same.
The responses of all the stakeholder groups indicated that addressing climate change through eco-efficient, low-carbon solutions for customers is of key importance. This reflects the fact that through Cargotec’s product offering we make the greatest contribution towards mitigating climate change. Employee and product safety were also highlighted throughout the entire value chain. Cargotec has focused on the safety of its own operations and products and has set clear targets for the safety performance.
We consider good governance and practices, including efficient risk management processes, the foundation for conducting business. We promote transparent communication and uphold open dialogue with key stakeholders. The Board of Directors is committed to sustainable business practices. As an example, they discussed the climate-related matters on several occasions during 2020. We also held the annual strategy event around climate. See GRI 102-47 for a list of the material topics mapped against GRI and SASB recognised topics and their boundaries.