LSG Group launches sustainability strategy with seven targets
The sustainability strategy includes global targets for 2030, as well as corresponding key performance indicators (KPIs) for the material topics they prioritize
The LSG Group has released its comprehensive sustainability strategy, centred around seven key topics that align with the United Nations’ Sustainable Development Goals, setting global targets for 2030.
To ensure accountability, the company has established corresponding key performance indicators (KPIs) for these material topics.
The identification of these material topics was the result of a thorough materiality assessment, which took into account the perspectives of relevant stakeholders. By prioritizing these topics, the LSG Group aims to integrate sustainability into its core business strategy. Experts from the responsible functions have worked diligently to define strategic targets for each material topic, which have now been translated into short-, mid-, and long-term goals. This approach provides a solid foundation for employees to take concrete steps, enhancing existing sustainability initiatives while incorporating new ones.
“At the LSG Group, we are working toward making sustainability a part of our DNA,” said Simon Frischemeier, Head of Sustainability Management and Chief of Staff, in a June 1 press release. “While this is an ongoing process, we are committed to this journey and will continue to take steps toward a more sustainable future, along with other strategic priorities like innovation and digitalization.”
To evaluate its sustainability performance, the LSG Group will employ the Environmental, Social, and Governance (ESG) framework as a measuring tool. The framework will also serve as a means to document and maintain accountability. Embracing the ESG approach, the company has identified People, Planet, and Prosperity as the three core dimensions of its sustainability strategy. Through these dimensions, the LSG Group aims to create shared value and make a positive impact on people, the planet, and overall prosperity.
To embed sustainability across all aspects of its operations, the LSG Group has set ambitious targets to address relevant sustainability challenges and opportunities. The targets have been developed by leading experts and practitioners from various business areas. Here are some of the key targets:
People:
- Occupational Health & Safety: By 2030, all of the company’s Customer Service Centers (CSCs) aim to meet the global standard safety criteria, ensuring they become safer places to work.
- Diversity & Equal Opportunities: The LSG Group strives for equal opportunities in leadership positions. By 2030, the company aims to double the number of women in senior leadership roles globally, targeting a representation of 40 percent.
- Working Conditions & Employer Attractiveness: The LSG Group aims to foster a positive work environment. By 2030, the company aspires to have 80 percent of its employees consider it a “good place to work.”
Planet:
- Emissions with Climate Effect: By 2030, the LSG Group aims to achieve a 50 percent reduction in waste disposal to landfill.
- Waste Management: The company sets an ambitious goal to reduce its CO2 emissions by 50 percent by 2030.
Prosperity:
- Supplier Sustainability: By 2030, the LSG Group expects suppliers representing 80 percent of its spend to meet the minimum supplier sustainability criteria.
- Code of Conduct and CSR Compliance: The company is committed to ensuring ethical practices throughout its supply chain. By 2030, it aims for 100 percent compliance with its Code of Conduct and CSR obligations from all contracted suppliers.
“With our sustainability strategy, and the change in culture that comes with it, we are accelerating our transformation, making the company more future-proof and further orienting our portfolio toward sustainability,” added CEO Erdmann Rauer in the same release. “I would like to thank every employee who has contributed to developing our strategy and who, despite the challenging times, continue to prioritize sustainability. We still have a long way to go, but can already see the opportunities that come with focusing on sustainability and the positive impact it has across our business, as well as in collaboration with our partners.”