Sustainability Statement 2024
Climate change, the transition to renewable energy, the safeguarding of human rights, and the rising need for access to clean drinking water are becoming increasingly significant sustainability challenges of our time. GF acknowledges its essential role in fostering change through products and solutions that tackle these issues, while simultaneously striving for sustainability in its own operations. By integrating a well-defined sustainability framework with its corporate strategy and establishing objectives in line with the Science Based Targets initiative (SBTi), GF is dedicated to mitigating its impacts and assisting its customers in their sustainability endeavors.
GF operates as a diversified industrial company with a global presence. It adheres strictly to all applicable laws and regulations in the regions where it conducts business, while also aligning with pertinent international standards. The company's business practices, and corporate strategy are rooted in its core values. GF prioritizes financial transparency, fosters open communication, embraces social responsibility as an employer, and integrates environmental awareness into its corporate responsibilities.
Good corporate governance and corporate compliance
Effective corporate governance is fundamental to all business operations at GF. To support the Board of Directors in fulfilling their responsibilities, the Nomination and Sustainability Committee (NSC) provides guidance on sustainability strategies, objectives, initiatives, and relevant legislation concerning sustainability matters. For further details, please refer to the Nomination and Sustainability Committee Charter, the Organization and Business Rules 2024, and the Corporate Governance Report 2024.
Corporate compliance constitutes an integral aspect of GF's commitment to ethical business practices. The Head of Corporate Compliance (HCC) organizes various training sessions and initiatives that assist corporate entities in adhering to legal requirements, internal policies, and the corporation's ethical business principles. Employees are encouraged to speak up if they believe in good faith that, in connection with a business or activity GF is involved in, someone has done, is doing, or may be about to do something that violates its Code of Conduct or any other applicable law or regulation through the GF transparency line. This reporting channel, which is accessible to all GF employees and external parties, aligns with the EU directive concerning the protection of whistleblowers. For further details, please refer to the G1 Business conduct chapter in the Sustainability Statement 2024, and the Corporate Governance Report 2024.
Sustainability at GF
The Sustainability Framework 2025 emphasizes the importance of GF customers, the planet, and its employees by concentrating on three key areas: Product portfolio, Climate and resources, and People and well-being.
GF aims to offer its customers the best quality and maximum added value, while staying at the cutting edge of product development. The innovation process of the four divisions includes life cycle assessments, which help to provide the details for development of new, sustainable and innovative solutions to GF customers. The raw materials used for GF products are sourced responsibly, with clear expectations included in the GF Corporate Conflict Minerals Policy.
GF works in a broad range of industries and cultures. As such, it aims to create a working environment characterized by mutual respect, diversity, and engagement. During regular performance reviews, GF employees and their line managers agree on the goals and individual development plans. Employee retention plays a major role in the ongoing success of GF as diverse and skilled talent supports future business growth.
The GF Corporate Policy on Human Rights emphasizes the organization's dedication to enhancing and refining internal procedures to prevent possible human rights concerns within its supply chain and products.
Ensuring safety is paramount at all GF companies. Consequently, the company has established a comprehensive array of safety standards that are applicable to all sites and are enforced consistently. The objective is to achieve zero workplace accidents.
The company continuously invests in modernizing its production sites, office facilities, and vehicle fleet, with a long-term view to enhance efficiency and further reduce its environmental impact.
The Corporate Policy on Environmental Management describes the company's commitment towards energy efficiency, environmental protection, the management approach, and its efforts to find new solutions for reuse of natural resources. The Corporate Policy on E-mobility aims to transform GF's global vehicle fleet towards energy efficiency and electrification.
GF's products and solutions are developed in accordance with robust environmental management practices. The pressing issues of climate change and resource scarcity necessitate that GF enhances its efficiency and separates resource consumption from growth. Specifically, under the Strategy 2025, GF is committed to lowering greenhouse gas (GHG) emissions in alignment with the Paris Agreement and the company's validated science-based targets. Additionally, GF aims to minimize waste directed to landfills, decrease water usage in regions facing water scarcity and stress, and perform sustainability evaluations of its supply chain.
More information in the Sustainability Statement 2024.
