Stakeholder principles

Intensive dialogue with our stakeholders

VTG embraces its social responsibility and plays an active part in public life. Accordingly, we regularly engage in intensive dialogue with our stakeholders in order to share experience, but also to arrive at constructive solutions to controversial issues.

Our stakeholder space includes first and foremost customers, suppliers, creditors, shareholders/investors and our employees. But it also includes associations, non-governmental organizations (NGOs), trade unions, analysts, the media, the scientific community, politics and local government, plus local residents and neighbors at our facilities.

This lively discourse helps us to identify important developments and topics in society and in our markets at an early stage, and to factor these issues into the way we shape our business.

Relationships with our stakeholders are developed by the respective responsible Group units on the basis of our stakeholder principles. By regularly reviewing the measures in feedback rounds with the responsible Group units, we aim to continuously improve our stakeholder dialog.

The VTG Group is committed to sustainable and responsible corporate behavior. A fair dialogue that often results in focused feedback is conducted with all stakeholders on the basis of:

  • Respect
  • Openness and honesty
  • Transparency
  • Reliability
  • Mutual understanding
  • Regular engagement

 

These principles align with the corporate values of VTG.

Stakeholders’ expectations are important factors that must be taken into account in the context of business decisions. They are the yardstick against which VTG can and must be benchmarked.

Our aims in committing to open and constant dialogue in an atmosphere of trust are:

  • To develop joint solutions to complex issues
  • To factor in as many perspectives as possible and foster a better understanding of the concerns and expectations of all sides
  • To learn from each other in order to develop and improve our company
  • To identify emerging trends at an early stage and channel this understanding into both innovation and corporate development
  • To constantly reinforce the foundation of trust that exists between us and our stakeholders.

Our discussions with the various stakeholders focus primarily on:

  • Growth
  • Trends and innovation
  • Collaboration
  • Ecological and social standards
  • Corporate news
  • Conditions/guidelines and the law
  • Health and safety/working conditions/qualifications

VTG pursues different forms of communication to engage in this dialogue. They range from personal contact in the form of surveys, events and workshops to political initiatives and conventional press and public relations work. Membership of associations and initiatives opens up additional channels of cooperative dialogue. Moreover, we are increasingly developing interactive connectivity with our stakeholders via social media such as Twitter and LinkedIn.