Our sustainability concept
Since the UN Conference on Environment and Development in Rio de Janeiro in 1992, the concept of sustainable development has been recognized worldwide as a guiding principle.
Sustainability means the responsible use of resources so that future generations can also use them. Sustainable development strives to reconcile economic progress, social justice and the protection of our environment. To achieve this, economic activity must be efficient, social responsibility must be assumed, and the environment must be protected in the long term. Only if all three dimensions - economy, society and environment - are given equal consideration can we ensure a future worth living for present and future generations. Sustainability is therefore much more than climate protection - even if this is without question one of the most important tasks of our time.
Companies are social actors. They play a decisive role in sustainable development. Companies create jobs, drive social development with innovations and technical progress, serve the needs of citizens and, through their tax payments, enable governments to fulfill their tasks for the community. They expand the scope of government action and state subsidies, which have a positive impact on development through investments in education, culture, the environment and infrastructure, for example.
The business activities of companies have both potentially positive and negative effects on the environment and society. We have set ourselves the goal of maximizing the positive and minimizing the negative to contribute to sustainable development.
Double materiality analysis - identifying our sustainability topics
We use the double materiality analysis (DMA) method to identify the material sustainability topics - i.e. those that are most important to us. This analysis helps us to identify the positive and negative environmental and social impacts of our business activities. It is based on the requirements of the ESRS (European Sustainability Reporting Standards) of the CSRD (Corporate Sustainability Reporting Directive).
By integrating the DMA into our sustainability management, we can actively manage the impacts, risks and opportunities, which lead to more sustainable and resilient business practices.
Interview on double materiality analysisKathrin Becker, Vice President Sustainability Reporting & Stakeholder Engagement |
There are two key components to consider, the so-called “inside-out approach” (impact materiality) and the “outside-in approach” (financial materiality). The “inside-out” approach looks at how a company's activities and business relationships influence or could influence the environment, society and the economy. The “outside-in” approach examines which sustainability issues can or could have a financial impact on the company itself.
We conduct the double materiality analysis in a structured process. This includes the identification and assessment of environmental, social and governance (ESG) impacts, risks and opportunities across our value chain. Uniper engages internal subject matter experts to gather insights and information on potential and actual impacts through workshops and surveys.
Our double materiality analysis is reviewed by an external auditor who assesses its accuracy and reliability.
The assessment identified several material topics, including climate change, air pollution, biodiversity, own workforce, value chain workers, affected communities and corporate governance. By addressing these key sustainability aspects, Uniper ensures that it remains resilient and sustainable in the face of changing environmental, social and business challenges.
After conducting the DMA, we integrate the results into our strategic planning and sustainability reporting. We continuously monitor and update the assessments. This is followed by the introduction of practical steps, such as stepping up efforts to mitigate climate change.
Find our Sustainability Reports here
Our sustainability goals - Our sustainability strategy plan
Based on the results of the double materiality analysis, we have grouped the most important sustainability issues for us into three areas of action: environment, people and society and responsible corporate governance. On this basis, we define commitments, targets, key figures and action plans in line with our corporate strategy. These elements form the basis for our sustainability strategy plan.
The sustainability strategy plan is our central tool for defining and managing targeted measures to address risks, minimize negative impacts and make progress on relevant sustainability issues. It is also a tool for systematically monitoring and reviewing our sustainability targets and performance. The HSSE & S (Health, Safety, Security, Environment & Sustainability) unit reviews sustainability performance and reports regularly to the Management Board and the Sustainability Council.
In the area of “Environment”, our sustainability goals are closely linked to our efforts to decarbonize our portfolio as quickly as possible and to drive forward the energy transition in Europe at full speed. This includes significantly reducing our dependence on fossil fuels and implementing energy efficiency measures.
We aim to achieve carbon neutrality for Scope 1, 2 and 3 by 2040 by taking measures to reduce and offset CO2 emissions and redesigning our product and service portfolio.
We also want to support our customers in successfully following their own path to sustainability. That is why we offer them solutions for a reliable and increasingly decarbonized energy supply. In addition, we intend to offer European and global customers trading products and services to facilitate the transition to renewable or low-carbon forms of energy.
Our goals in the area of “People and Society” include promoting equal treatment and the safety of our workforce. We want to prevent serious accidents involving employees and contractors through preventive measures. We are also committed to promoting gender equality and have set ourselves the goal of achieving a 25% share of women in management positions at level 1 (L1) and level 2 (L2) below the Executive Board by 2025. This target reflects our comprehensive commitment to diversity and inclusion.
Sustainability management
Overall responsibility for sustainability lies with the Management Board, within which the Chairman of the Management Board plays a central role in his role as Chief Sustainability Officer (CSO). The CSO reports to the Supervisory Board's Sustainability Committee on strategic sustainability activities and chairs the Uniper Sustainability Council. This internal cross-functional committee monitors, steers and regularly scrutinizes the implementation of our sustainability strategy and our governance framework throughout the Group. The Sustainability Council is made up of executives representing all areas of Uniper's Management Board.
Our clear guidelines, our defined sustainability targets and good corporate governance provide us with the framework we need to systematically implement our sustainability strategy throughout the Group.
The HSSE & S unit develops Group-wide ESG targets and performance indicators and is also responsible for the management process for sustainability-related impacts, risks and opportunities. It regularly reports to the Management Board on the Group's sustainability performance. The Management Board informs the Supervisory Board about sustainability issues at least twice a year.
Jutta Dönges, Uniper CFO
"Preparing our first sustainability report in accordance with the CSRD was a major challenge. Its publication is an important step towards a transparent and responsible approach to sustainability issues at Uniper. In addition to the established key financial figures, information on ESG issues is becoming increasingly important for interest groups in the financial sector. Transparent communication of a company's key value drivers, opportunities and risks is therefore also crucial in the ESG context."
Contact
Kathrin Becker
