Risks arising from environment, and climate as well as plant and equipment
As a company with global production operations, we are exposed to risks of possible damage to personnel, goods, and our reputation. Those include physical risks stemming from exposure to droughts, storms, and floods. Mitigation measures like audits, consultations, and trainings on environmental protection, occupational health and safety minimize these risks to people as well as 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 significant 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 and actively shifting our portfolio to increase the positive sustainability impact, we contribute to achieving the United Nations Sustainable Development Goals. In 2022, we extended the targeted strategies for our business sectors. Also, we launched a sustainability scorecard for our research and development activities. Our dedication to sustainability paired with our commitment to quality, regulatory excellence, and compliance is important 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.