International estimates predict an increase in energy demand of 40% by 2040. This means that the rate of global energy efficiency enhancement must increase along with a shift towards renewable energy production, and in this respect, we are well positioned for the future.
We invest many resources in the new digital tools, in the product offering with adaptations to a more connected global world as well as in the development process, so we can have a global business with a local presence. This also helps to reduce environmental impact.
Due to acquisitions and our increased global presence, the number of local production units is also increasing around the world. Our main principle is to continue to operate businesses where they were founded, thus benefiting the local community in terms of both jobs and purchases from local businesses and entrepreneurs.
Our values and business principles entail zero tolerance for all forms of corruption. This is clearly communicated in all contracts with suppliers and other business partners.
We evaluate our corruption risks in our annual risk assessment. In addition to mandatory training in anti-corruption, which all exposed employees must attend regularly, we urge our employees to be vigilant, to ask for advice in situations in which they feel uncertain and to report all incidents in which they have been subjected to any form of attempted bribery or other unethical conduct.
It is important to us that the suppliers we use meet our requirements and standards, which is also stated in our Business Code for Suppliers. We set high standards in terms of product quality, delivery reliability, compliance with legislation and environmental performance. These standards are based on the ten principles of the UN Global Compact* and the ETI Base Code** and are aligned with our values.
Increasing the proportion of products based on renewable energy and meeting market demand for energy-efficient, clean energy solutions. (Goal 7)
Providing resource-efficient and climate-adapted components, products and solutions that contribute to sustainable cities and secure infrastructure. (Goal 11)