Siemens 2014 Annual Report Download - page 215

247 D. Consolidated Financial Statements
337 E. Additional Information
213 C. Overall assessment of the economic position
214 C. Subsequent events
215 C. Sustainability and citizenship
225 C. Report on expected developments and
associated material opportunities and risks
242 C. Compensation Report and legal disclosures
242 C. Siemens AG (Discussion on basis
of German Commercial Code)

C.. Sustainability at Siemens
C... OVERVIEW
Siemens has defined sustainability to mean achieving profit-
able and long-term growth, acting responsibly on behalf of
future generations and to keep the three dimensions of sus-
tainability – people, planet, profit – in balance. We are aware of
the associated high standards and the possibility of conflicting
goals. Nevertheless, we are convinced that sustainability,
especially in the sense of resource efficiency is a business
opportunity, and worth seizing.
Sustainability is a guiding principle within our Company, incor-
porated in our philosophy, central theme of our corporate strat-
egy, and integral part of the Siemens Management model. In
our Sustainability activities we focus on three areas: “Sustain-
able business practices,” “Contribution to our customers’ com-
petiveness,” and “Contribution to sustainable development of
societies” in order to achieve sustainable progress for Siemens,
its customers and societies.
> “Sustainable business practices” comprises our commitment
to embedding sustainability throughout our organization
and operations. We want to be a role model ourselves and
walk the talk across all areas of the Company covering oper-
ational businesses, countries, and corporate functions.
> The second area means that we contribute to our customers’
competitiveness with our products, solutions and services
and enable them to increase energy efficiency, save re-
sources and reduce carbon emissions at a significant cost
advantage.
> Siemens contributes to the sustainable development of soci-
eties with its innovative products and solutions, local opera-
tions, thought leadership and the fostering of long-term
relationships with local communities through Corporate
Citizenship projects with partners.
C... SUSTAINABILITY MANAGEMENT
AND ORGANIZATION
The importance we attach to the topic of sustainability is evi-
dent in its central position within the Company ’s organization
and in our programs and the measures we execute. Efficient
sustainability management is a company-wide task that requires
a clear organizational structure and a thorough anchoring of
sustainability in our corporate culture. All our sustainability ac-
tivities are steered by the Chief Sustainability Officer, who is a
member of our Managing Board. In order to coordinate and
manage our sustainability activities efficiently, we established
the Siemens Sustainability Board, the Sustainability Office and
the Siemens Sustainability Advisory Board.
The Siemens Sustainability Board, which is chaired by the
Chief Sustainability Officer, is the central steering committee
for sustainability at Siemens. In its regular meetings it directs
our sustainability activities as part of our sustainable strategy
and adopts appropriate measures and initiatives. Our Chief Sus-
tainability Officer also manages the Sustainability Office,
which is responsible for driving sustainability further within
Siemens and for coordinating the sustainability activities and
other company-wide programs and measures.
To help us maintain an objective perspective on our sustain-
ability challenges and performance, we have also created the
Siemens Sustainability Advisory Board, composed of eight
eminent figures in science and industry from a range of disci-
plines and regions of the world. None are employees of
Siemens. Furthermore, a network of assigned Sustainability
Managers in the businesses and regional units ensure that sus-
tainability measures are implemented and multiplied through-
out the Company.
C... COLLABORATING FOR SUSTAINABILITY
Our sustainability efforts are based on our Business Conduct
Guidelines, which provide the ethical and legal framework
within which we conduct our business activities. They contain
the basic principles and rules for our conduct internally and
externally. Specific issues, such as those relating to the environ-
ment, are covered in more detailed regulations and guidelines.
The Business Conduct Guidelines are binding for all companies
controlled by Siemens.
Furthermore, we believe that close collaboration with stake-
holders supports us in addressing complex, interlocking sus-
tainability challenges and topics. Maintaining an intensive dia-
logue with partners along the supply chain and with external
stakeholder groups and organizations is important for us:
Siemens is actively engaged with leading global sustainability
organizations, such as the World Business Council for Sustain-
able Development (WBCSD) and the World Resources Institute
(WRI). We also liaise regularly with a broad group of stakehold-
ers on key sustainability issues, track their most material topics
and use them as guide for our activities.
In addition, we are committed to international standards and
guidelines for sustainability. For example, we signed on to the
United Nations Global Compact in  and became a signatory
to the Global Compact’s CEO Water Mandate in ; since fiscal
, we are a member of the steering committee of the Global
Compact’s “Caring for Climate” initiative. We regularly report on
our sustainability performance using the guidelines (G.) of
the Global Reporting Initiative (GRI), which aim at high transpar-
ency and comparability for corporate sustainability reporting.
C. Sustainability and citizenship