Anchoring in the company
ESG is firmly anchored in our business model.We attach great importance to compliance, transparency and ethics in our corporate governance.
We report on our sustainability and corporate governance activities in accordance with the recognized GRI guidelines. In doing so, we want to demonstrate our commitment to responsible action.
We want to further expand our reliable foundation for corporate governance.To this end, we have optimized our compliance processes and established a central position, the Chief of Compliance, as well as a compliance team. This team meets regularly and reports directly to the Management Board. The processes have been closely integrated with risk management.
Code of Conduct https://sicher-melden.de/whistle/#/mainpage/icm55404/woco_industrietechnik
We have set ourselves the goal of proactively addressing environmental and social challenges and safeguarding the interests of our customers, employees and society as a whole. This includes respecting human rights in our global subsidiaries and supply chains.
Since 2020, Woco has been a member of the automotive industry dialog to develop a cross-industry orientation for the implementation of the NAP requirements (National Action Plans) for human rights due diligence together with other companies.
Automotive industry dialoghttps://sicher-melden.de/whistle/#/mainpage/icm55404/woco_industrietechnik_gm
In 2022, guidelines for the five core elements of human rights due diligence were developed and adopted:
Policy Statement, Risk Analysis, Measures, Reporting and Grievance Mechanism.
These guidelines are to be understood as a learning journey for the implementation of human rights due diligence and serve as the basis for the measures taken by Woco to implement the requirements from the five core elements. The German Supply Chain Due Diligence Act adopted in 2021 is taken into account in the guidelines.
Our whistleblower system is the most important tool for finding out about suspected cases and violations at an early stage and investigating them independently
At Woco, we want to recognize misconduct at an early stage so that we can take countermeasures. In this way, we strengthen the trust of our employees, customers and business partners in the integrity and responsiveness of Woco.
Woco whistleblower system
https://sicher-melden.de/whistle/#/mainpage/icm55404/woco_industrietechnik_gm
By regularly publishing sustainability reports in accordance with GRI standards, we describe our guidelines, goals and measures for assuming social responsibility. This enables us to harmonize our economic activities with ecological and social aspects.
Sustainability reporting in accordance with GRI:
- 2017 and 2019: Sustainability reporting in accordance with GRI standards
- 2021: no reporting for BY 2020 due to Corona and the restructuring of the company
- From 2023: annual reporting in accordance with GRI
Sustainability reporting in accordance with CSRD:
- 2022-2023: Comparison
- From BY 2025: Reporting in accordance with CSRD
We are also pursuing activities relating to the European Taxonomy Regulation by dealing with the mandatory reporting on non-financial aspects in accordance with CSRD and preparing for the resulting transparency requirements.
We continue to drive digitalization forward. Standard IT solutions form the basis for maximum transparency in our business processes.
With "oneIMS", Woco has introduced a Group-wide IT system that makes standardized processes understandable for all employees across all locations and supports management in the implementation of regulations.
Our primary task is to continuously improve our performance, our attractiveness and our competitiveness.
In doing so, we always keep an eye on the long-term security of our company.
We have worked out a materiality matrix: In addition to financial performance, innovation in particular is an important driver for Woco's long-term development. To this end, we have introduced various systems and processes. Here are a few examples:
GO IDEA! innovation platform
We position and network new ideas internally in order to proactively meet market conditions.
With the GoIdea innovation platform, we collect, validate, test and prototype the best ideas for product innovations. This strengthens our customer promise of "robustness, independence and sustainability" for the future.
External benchmarking platforms
We work together with various benchmarking specialists to make our products, processes and company more efficient and ecological. The interdisciplinary project collaborations are particularly congenial to the diverse engineering expertise in our company.
Internal benchmarking with GoBench
We use the "GoBench!" software to promote continuous development and benchmarking. We have spent two years developing the internal benchmarking and competitive intelligence software with new functions and design. This provides us with an overview of our own technologies, innovations and products as well as precise comparisons with competitors.
Actively involve stakeholders
Woco works with customers to develop sustainability solutions rather than simply meeting their requirements. This close cooperation enables us to develop the best approaches to promoting sustainability. Such cooperation between companies and customers is a win-win situation that benefits customers, companies and the environment.
