14 7 15 2 17 10 11 5 1 16 6 3 12 4 8 13 9 Watch list Ongoing Relevance for internal stakeholder Relevance for external stakeholder Focus area 1. Strategy and sustainability management 1. Strategy and sustainability management 1.2 Sustainability strategy and management Thinking in terms of generations to come and responsible and sustainable economic activity are deeply rooted in the corporate DNA, particularly in family companies such as Festo, and are expressed in the term ‘corporate responsibility’ (CR) and sustainability management. This chapter describes the further development of sustainability management and provides an outlook on the focal points of our 2020+ sustainability strategy. At Festo, the tasks of the Corporate Responsibility department include the conception and implementation of an international sustainability strategy, sustainability management and CR reporting. GRI 102-2, GRI 102-18 Development of the areas for action The development of the areas for action (page 14) of our sustainability strategy is based on the identification of the Sustainable Development Goals that are relevant for our company. In the autumn of 2015, the United Nations General Assembly adopted the 17 SDGs. We at Festo are committed to supporting the goals formulated therein as part of our own sustainability strategy. Identification of key issues The interests of both internal and external stakeholders were taken into account in the identification of topics. There are two groups within the external and internal stakeholders. ‘Formative stakeholders’ have concrete expectations of Festo as a company and also have a direct influence on its business activities. In addition, there are ‘other stakeholders’ whose interests are taken into account but whose influence is considered to be rather limited. In concrete terms, these two categories are as follows: Formative stakeholders • Shareholders • Management Board • Customers and their customers • Employees Other stakeholders • Suppliers • Local population • Science • Public • Non-governmental organisations (NGOs) • State • Supervisory institutions GRI 102-40, GRI 102-42, GRI 102-43, GRI 102-44 In identifying the important SDGs and deriving areas of action, the results of the stakeholder analysis were supplemented by monitoring external changes in the areas of legislation, business and politics, technology, energy, environment and society. On this basis, we regularly review our strategic orientation as well as our sustainability goals and measures. GRI 102-31 The process resulted in an updated materiality matrix. In this, topics classified according to materiality are divided into the categories ‘Watch list’, ‘Ongoing’ and ‘Focus area’. GRI 102-46, GRI 102-47, GRI 102-49 Topics relevant to Festo Currently, the greatest opportunities for Festo to make an impact have been identified in the implementation of the following SDGs: • Good health and well-being (SDG 3) • Quality education (SDG 4) • Clean water and sanitation (SDG 6) • Decent work and economic growth (SDG 8) • Industry, innovation and infrastructure (SDG 9) • Responsible consumption and production (SDG 12) • Climate action (SDG 13) Festo has very different influences on the 17 SDGs of the UN. The goals to which we as a company can make a relevant contribution are highlighted above. 12 13 Festo SE & Co. KG Sustainability Report 2021 Festo SE & Co. KG Sustainability Report 2021
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