Stakeholder Management

Porsche’s business activities touch on the interests of many people around the world. Proactive engagement with stakeholder groups is particularly important to the company, and Porsche seeks to continually expand this dialogue. At Porsche, an open, transparent exchange of information and reasoned debate lay the foundation for mutual understanding and acceptance.

aware_Conference, Berlin, 2020, Porsche AG
Psychologist Eva Kaczor, Christian Knörle, Head of Company Building at Porsche Digital, aware_Conference, Berlin, 2020, Porsche AG

Stakeholder management at Porsche takes a 360-degree approach that aims to systematically record the expectations of each stakeholder group and use this feedback as the basis for critical reflection on the strategic planning processes.

By taking account of the interests and perspectives of various stakeholder groups, the company can quickly identify key social trends and incorporate these in its commercial decision-making. Looking outwards, the two-way sharing of information can reveal what scope for action Porsche sees in current challenges, and articulates the conditions and parameters that are important to the business. 

Nachhaltigkeitsbeirat

Porsche Sustainability Council

The Porsche Sustainability Council is a group that advises the company’s Executive Board and top management. The Council is composed of independent experts from the worlds of business, science, politics and civic society. Since being founded in 2016, it has been an effective contributor to and critical partner in Porsche’s credible, strategic approach to sustainability, through its ideas, regular consultations and its own projects.

The Sustainability Council convened at the end of 2020 is composed of the following members: Prof. Lucia Reisch, Prof. Sonja Peterson, Prof. Maximilian Gege, Prof. Ortwin Renn and Prof. Klaus Töpfer. The Council members are independent and not bound by instructions. The Executive Board has given the Council far-reaching rights to information and consultation, as well as rights of initiative.

In the reporting year, the Sustainability Council held two consolidated meetings with the Porsche Executive Board. The core topics of discussion included the handling of the COVID-19 pandemic, decarbonisation and the creation of resilient and sustainable supply chains. The Porsche Sustainability Council also met twice with the Sustainability Council Coordination Office and held one meeting with the Volkswagen Group Sustainability Council. Alongside regular conference calls, members of the Council were closely involved in further development of the sustainability strategy and deepening of the stakeholder dialogue. 

The Sustainability Council will be further strengthened in 2021, growing from five to six members, in response to the constantly increasing global challenge and rising importance of sustainability.

Memberships and networks

Cooperating in networks and engaging in sustainability initiatives and working groups also form part of Porsche’s stakeholder dialogue as it works to drive forward economic, ecological and social issues. Porsche participates across a broad spectrum of areas. For example, the sports car manufacturer is a founding member of the Bündnis für Luftreinhaltung clean air alliance, a member of the Urban Mobility Platform and an active participant in the industry dialogue on the German national action plan for business and human rights.

It has also been a member of the “German Environmental Management Association” (B.A.U.M.) since 2016. In 2017, the company joined the “German Business Ethics Network” (DNWE) and became a signatory to the state of Baden-Württemberg’s “WIN! Charter” for sustainable business, marking its commitment to entrepreneurial responsibility. Since 2018, Porsche has also been one of the cooperation partners involved in the “nachhaltig.digital” competence platform. The aim of the joint project on the part of B.A.U.M. and the “German Federal Environmental Foundation” (DBU) is to use digitalisation as a tool for future-proof, sustainable development. Together with the Volkswagen Group, Porsche was the first automobile manufacturer to become a core member of the Value Balancing Alliance, doing so at the end of 2019. During the reporting year, the company also joined the “Responsible Mica Initiative” (RMI). This cross-industry coalition campaigns for transparency and improved working conditions in mica mining.

Value Balancing Alliance

In November 2019, Porsche became the first automobile manufacturer to join the Value Balancing Alliance. The objective of the group is to develop a standardised way of measuring and evaluating in money terms the impact of companies’ business activities on the environment and society. The new methodology will be produced in collaboration with the other members BASF, BMW, Bosch, Deutsche Bank, Kering, LafargeHolcim, Mitsubishi Chemical, Novartis, Otto, Volkswagen, SAP, Schaeffler and SK, as well as partners including the OECD and the European Commission.

The value of a business is not simply a function of the financial value it creates, but also incorporates its ecological and social value. Porsche is seeking to make its sustainability activities even more effective and to improve how sustainability is integrated across its decision-making processes. In joining the alliance, Porsche is also undertaking to pilot the methodology within its own organisation. With support from the Volkswagen Group, Porsche is assuming a leading role across all of the Group’s brands as a core member of the Value Balancing Alliance.

Responsible Mica Initiative

The Responsible Mica Initiative (RMI) was founded in Paris in 2017, with the aim of developing global standards for the mining of mica. The intention is to address safety issues, as well as fair working conditions and wages. Companies that join the Responsible Mica Initiative commit to implementing these standards. The initiative is supported by a range of representatives from the paint, pigment, textile and cosmetics industries. The human rights organisation Terre des Hommes is a founding member.

Mica is used as a raw material in many industrial and cosmetic products. As an automobile manufacturer that uses mica, Porsche also contributes to the worldwide consumption of this raw material. The company therefore joined the RMI in the reporting year in order to campaign for more transparency and better working conditions in relation to the mining of mica as part of this cross-industry association of international companies and non governmental organisations. Through specific projects in the mining regions, Porsche is aiming to significantly improve the living conditions of local people.

 

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