Risks arising from environment, climate as well as plant and equipment
As a company with global production operations, we are exposed to risks of possible damage to people, goods, and our reputation. Those include physical risks stemming from exposure to droughts, storms, and floods. Audits, consulting, and training on environmental protection and occupational health and safety minimize these risks to people and the environment. In order to ensure the continuity of plant and equipment, we monitor these risks both at our own sites as well as at suppliers and contract manufacturers. By adhering to high technical standards, our rules of conduct, and all legal requirements in environmental protection and occupational health and safety, we ensure the preservation of goods and assets. We have taken sufficient appropriate accounting measures for the environmental risks known to us. We monitor regulatory risks in connection with the transition to a low-carbon economy, which could materialize in the mid- and long-term through rising carbon prices through emissions trading systems, taxes or energy legislation. We mitigate those risks with our energy and carbon management measures. We classify these as possible risks based on which a substantial impact on the financial position cannot be ruled out.
Opportunities arising from the further integration of Sustainability in the Corporate Strategy
In 2020, we integrated sustainability more strongly in the corporate strategy, setting three goals in the areas of science and technology, value chain, and climate and environment. By considering the goals of the sustainability strategy when making business decisions, we contribute to achieving the United Nations Sustainable Development Goals. In 2021, we established the new Group Function “Corporate Sustainability, Quality and Trade Compliance”. Our dedication to sustainability paired with our commitment to quality, regulatory excellence, and compliance are important focus areas for us. Combining these strategic elements will ensure an effective and efficient execution of our strategy and enable us to cater to the increasing expectations of customers, patients, employees, investors, and the general public. Furthermore, we are promoting visionary sustainability projects in areas like the circular economy and digital sustainability.