The eight areas of action of our company-wide ESG policy
Environmental Management
- VSB takes responsibility for minimizing its environmental footprint through environmental management and regulatory compliance.
- Our goal is to extend the scope of ISO 14001 to all our subsidiaries to monitor performance systematically.
- Sustainable procurement of goods and services, along with environmental criteria in VSB Group offices (i.e., buildings) and energy efficiency in our subsidiaries, are integral to our ESG and Sustainability Strategy and Plan.
Climate Protection
- Climate protection is a core focus integrated into our daily business operations.
- We will continue to calculate our corporate carbon footprint annually to track our performance.
- To combat climate change, we will implement our GHG Emissions Reduction Plan, including transitioning to renewable energy in our subsidiaries and progressively decarbonizing our vehicle fleet.
Health and safety
- Our top priority is to prevent potential risks to employees and stakeholders by following best practices in health and safety, labor rights, and contractor management.
- We plan to extend the scope of ISO 45001 to all our subsidiaries to minimize the risk of accidents, injuries, and illnesses.
Employee Welfare
- We are committed to enhancing the physical and mental health of our employees.
- We recognize that employee welfare is crucial for our company's success.
- Flexible working hours, employee feedback and surveys, fair compensation, and a positive work environment are essential for fostering employee well-being.
Community and Social Engagement
- We firmly believe that the trust, credibility, and goodwill we have built in our communities contribute to a positive social, work, and business environment.
- We plan our projects to meet local stakeholder needs through transparent dialogue and active involvement in decision-making.
- We encourage local ownership and engage in various social initiatives.
Human Rights and Diversity, Equity, and Inclusion (DEI)
- As part of the business community, we have a responsibility to respect and protect human rights, uphold labor standards, and promote diversity and equal opportunities.
- This is essential for creating an inclusive workplace and harnessing diverse perspectives and experiences for better decision-making.
- Diversity is a core element of our ESG corporate vision and strategy.
Governance and Compliance
- We consider governance vital for creating and preserving value for our stakeholders.
- This includes sound corporate governance practices in compliance with all applicable laws, rules, regulations, and policies.
- Our commitment is to ensure transparency, accountability, and fairness, fostering strong professional relationships among the Board of Directors, managers, employees, and shareholders.
- By implementing a compliance management system, VSB aims to strengthen the protection of the integrity of executives, employees, customers, and business partners, solidifying our position as a trustworthy partner.
In addition, we have committed ourselves to the following environmental goals
as defined in our environmental policy:
- Continuously improve our environmental performance by minimizing the generation of waste and pollution in our operations and business activities as well as reducing resource consumption and implementing environmental management best practices into our business operations.
- Continue measuring our corporate carbon footprint (CCF) on a yearly basis and implement our GHG Emissions Reduction Strategy and Plan which includes a baseline (2022) and target for the next four years.
- Ensure the responsible use of energy in our offices and give preference to renewable over non-renewable energy where feasible.
- Take environmental criteria into account in the procurement of goods and services, in VSB office locations (i.e. buildings), the selection of external service providers and in the execution of the activities entrusted to them (such as construction, service and maintenance).
- Provide a safe and healthy workplace as well as educate and train our employees in the use of environmentally conscious practices, recognising that no matter what their roles are, they are also responsible for protecting the environment.
- Be environmentally responsible in the communities where we operate and correct any conditions that may endanger health, safety or the environment.
- Ensure compliance with relevant environmental legislation, ISO 14001 and other requirements related to our operations. Our goal is to extend the coverage of ISO 14001 in all our subsidiaries progressively.
- Set and achieve environmental objectives and targets at all appropriate levels and in line with VSB's goals as part of our ESG and Sustainability Strategy as well as environmental management system.
Compliance
At VSB compliance with regulations, legislation, internal policies and guidelines is of utmost importance. Our values and commitments are reflected in our policies, guidelines and codes. Compliance and sustainability share many areas of common interest, such as risk management, supply chain, transparency and reputation. In this section we make available a number of selected policies which were developed as part of our compliance program.
Important internal policies:
- Environmental policy
- ESG Statement and Policy
- Compliance Policy (Anti-Bribery Anti-Corruption Policy)
Accountability and transparency are part of our culture. We aim that each employee and our external stakeholders are fully aware of our policies, guidelines and codes. By implementing a compliance management system VSB aims to strengthen the protection of the integrity of the executives, employees, customers and business partners and therefore, its position as a trustworthy partner. We are aware that our stakeholders including suppliers and service providers play a key role in achieving VSB’s objectives in the long-term, and this is why we pursue a clear communication with them on our values and what we strive for.
