Stakeholder engagement and material themes
BAM recognises that real business benefits can only be achieved with the involvement of its stakeholders. During 2016 BAM met with its clients, main suppliers and other stakeholders in multi-stakeholder forums to further align BAM’s policies with stakeholder demands.
The Group has defined its stakeholders as those groups which significantly influence or are influenced by the economic, environmental and social performance of BAM. The Group has identified its stakeholders based on the risks and opportunities for its business performance, strategy execution and strategic objectives.
BAM continuously engages with its stakeholders to understand their priorities and concerns through benchmarking, sector meetings, client surveys and direct contracts. BAM’s key stakeholder groups, and its interactions with those stakeholders are:
BAM is in daily discussion with its clients about project expectations and projections. In addition, BAM organises client meetings to share knowledge, best practices and innovation within its value chain. Some clients have developed their own sustainability benchmarks, including ProRail, the government task organisation that takes care of maintenance and extensions of the Dutch railway network infrastructure, with its CO2 Performance Ladder. Positioning on the ladder forms part of the tender evaluation process and positively affects BAM’s ability to win contracts. It is therefore important that BAM keeps itself informed of and is able to respond proactively to this and similar initiatives.
Providers of financial capital
Communication with investors, financial institutions and the financial community in general is actively pursued and usually takes place through meetings, project visits, road shows, seminars, presentations, investment meetings and press releases. The main recurring topics of discussion are financial performance and transparency and control. All dates and locations of road shows, seminars and other investor relations activities are published on the BAM website. The Group has also been responding to CDP’s investor information requests since 2008.
BAM’s employees are its most important asset. As part of BAM’s performance management process, employees’ personal learning and development plans are evaluated annually between manager and employee. Main discussion points are development plans and expectations. BAM also has active workers’ councils in the operating companies to discuss organisational changes and other related matters. For younger employees in the Netherlands and in the UK ‘Young BAM’ commitees organise events to learn about projects and inspire to provide feedback.
Suppliers and subcontractors
BAM’s procurement officers are in daily contact with suppliers and subcontractors to discuss amongst others health and safety. Also, circular economy practices are increasingly discussed. Supply chain partners are increasingly being involved at the early stages of the bidding process and helping to develop and plan BAM’s projects through lean planning meetings and thereby optimising the efficiency of the build programme through the value chain. By involving its supply chain partners, BAM invests in relationships.
By its very nature, BAM’s construction and civil engineering works have an impact on local communities, occupants and other users of buildings and infrastructure and society as a whole. Main discussion points differ per governmental body, but health and safety as well as human rights are common. Chapter 4 of this report describes BAM’s results and gives several examples of its community engagement activities in 2016.
Through its delivery of projects, BAM has ongoing contact with local government bodies regarding the issuing of permits, compliance with regulations and supervision of its activities. BAM is involved in many governmental initiatives including several Green Deals in the Netherlands. BAM Nuttall and BAM Construct UK are members of the UK Green Building Council. BAM aims to engage regulators on issues such as zero carbon buildings, lifecycle carbon impacts of infrastructure and other sustainability related issues within the built environment.
In addition to its engagements with different stakeholders across its operating companies, the Group organises a yearly multistakeholder meeting hosted by BAM’s CEO. Local smaller parties as well as executives of international stakeholders and governmental bodies and institutions have attended. The meeting is used not only to present and check BAM’s strategy to all directly or indirectly involved parties but more importantly to jointly discuss cross industry trends and movements in the entire construction value chain.
In 2016 BAM organised its stakeholder meeting together with two stakeholders: Bouwend Nederland and Holland ConTech.
This first time jointly organising effort was in line with BAM’s core value ‘open collaboration’.
The stakeholders selected for the dialogue comprised fifty management-level representatives of clients, financial institutions, suppliers, architects, start-ups, NGOs, and knowledge institutes that are actively involved with BAM activities and 30 executive representatives of these same organisations. They were joined at the meeting by BAM executives and internal stakeholders from BAM’s operating companies.
During this year’s meeting inter-stakeholder groups were formed to create action plans to benefit digitalisation. BAM took the lead in bringing the parties together. The plans were presented to all party executives to ensure buy-in. Digitalisation was discussed in the light of the following themes:
- Circular building;
- Using non-proven technologies;
- Cooperation in the value chain;
- Learning from startups;
- Data ownership;
- Starting with the end user;
Input from stakeholders for BAM:
- BAM is expected to take the lead on digitalisation in the construction value chain;
- The present stakeholders are open towards forming joint project teams on certain digital or sustainable projects;
- A need for more open discussions was expressed.
BAM has taken the lead by hosting follow-up meetings in 2017 to promote further discussion and when applicable execute the first steps of the experiments.
As part of the development of the strategic agenda for 2016-2020, the Group conducted a materiality assessment. Material themes are those that substantively affect BAM’s ability to create value over the short, medium and long term.
As a first step in the process of identifying material themes, BAM selected relevant matters from a longlist of topics, based on their ability to affect financial, environmental and social value creation for BAM’s stakeholders. This longlist included aspects derived from the fourth edition of the Guidelines of GRI (Global Reporting Initiative), BAM’s Group strategy, the results of research into stakeholders’ interests and feedback from stakeholder dialogues and general meetings of shareholders.
Next, a Group-wide selection of BAM employees evaluated the importance of these relevant matters in terms of their known or potential effects on BAM’s activities, products, services and relations, both within and outside of BAM, within the timeframe 2016-2020. ‘Effect’ within BAM was defined as ‘impact on BAM’s success’.
Stakeholders were asked to identify and prioritise the potential impact of these matters on themselves and on society. Most relevant for the clients group were ‘health and safety’ and ‘project and product quality and control’. The group of employees specifically indicated ‘employee recruitment, development and retention’ as a material theme. Providers of financial capital indicated that BAM’s performance on ‘circular economy’ is most relevant to their organisations. BAM’s subcontractors and suppliers as well as the group representing society (NGOs, government and knowledge institutes) specifically indicated ‘business conduct and transparency’ as the most material theme. They were also asked to introduce and assess matters that were omitted from BAM’s initial materiality assessment. Topics that were added as important were culture and open collaboration. These subjects are pillars of BAM’s strategy and already elaborated in this report and will also be included in next year’s survey.
The stakeholders that were invited to the stakeholder dialogue were asked to fill out a materiality survey. In the light of the theme 'digitalisation' it was to be expected that 'innovation' would rank high in responses.
The materiality matrix displays the prioritisation of the matters based on their relative importance to BAM and to BAM’s stakeholders. It should be noted that opinions of various stakeholders and appreciation in BAM’s home markets may vary.
This report has been structured according to the material themes. It addresses BAM’s performance in relation to the following topics that are positioned in the materiality matrix:
Health and safety
Definition: Health and safety (zero accidents) of all employees and subcontractors and everyone involved with BAM’s activities, including the general public.
Impact: ‘BAM borrows its employees from their families’, is how BAM expresses its responsibility for everyone who works with and for BAM. There is nothing more important than everyone returning home safely. Occupational health and safety contributes to the satisfaction of the Group’s employees and their relatives, BAM’s subcontractors, its supply chain partners and others involved with BAM’s construction sites. Safety also affects BAM’s clients and BAM’s reputation.
Management approach: A Group-wide guideline for safety management provides BAM’s operating companies with a framework within which their safety management system must comply.
Meeting the strategy means focusing on the quality of the underlying goals: living the safety ambition of ‘zero accidents’ every day is the goal for safety. Zero accidents means the mind-set (intrinsic motivation) and true believe that it’s achievable to create a safe work environment which will allow ‘everyone home safe every day!’.
Creating the right environment for knowledge sharing and learning (in BAM’s complete supply chain) is most important to reach the Group’s safety targets. This will be done by:
- Supporting the operating companies to develop leadership and behaviour by implementing the new Safety Behaviour Audit (SBA);
- Recognition of performance by implementing and follow up on the Safety Exchanges (SEs);
- Strengthening BAM’s (safety) culture supported by uniform safety communication processes, modern methods and channels;
- Improving the Safety Group performance to IF (Incident Frequency) < 3,5.
At the annual Safety Awareness Audits (SAAs), BAM used to monitor the extent to which the safety management systems of operating companies comply with the guideline and the extent to which employees are aware of the safety risks inherent in their projects. Now that the majority of operating companies have achieved reasonable scores in all areas the opportunity was taken to harness the report in a different direction: that of the Safety Activities (SAs). On a yearly base at least one SBA was scheduled per operating company, the number of SAs was based on turnover and performance was added. Two types of SAs were launched: Safety Behaviour Audit and Safety Exchange.
> For BAM’s performance, see chapter 4.2 Social performance.
Quality and control
Definition: Quality of tender process, efficient project management and effective project execution with the aim to meet or exceed clients’ expectations.
Impact: To exceed clients’ expectations, BAM needs to continuously improve the (perceived) performance of BAM’s products. Product quality means that BAM does what it has promised to do, within budget and on time. Operational performance is crucial to realising the appropriate level of financial and non-financial results on construction projects.
Management approach: Since 2014 BAM has increased its efforts to improve the quality of its tender process in order to safeguard its current and future results arising from construction projects.
The evaluation of BAM’s internal governance framework has resulted in the update of company principles and management guidelines, including strengthening BAM’s project selection and tendering process for large and high-risk projects. In connection with this development, peer reviews on project estimates are undertaken under the leadership of the Tender Desk Director.
In order to comply with product responsibility, BAM makes sure that all projects where its operating companies are responsible for design and construction are certified. In other projects (PPP projects) BAM uses verification and validation methods. Each operating company has a quality manager who is responsible for the quality control of the operating company’s processes.
System audits are conducted by third parties. On all levels, outcomes are assessed by the senior management of BAM’s operating companies.
> For BAM’s performance, see chapters 2 Strategy and 3.3 Risk management.
Business conduct and transparency
Definition: Openness regarding and adherence to generally accepted standards and values and compliance with local statutory and other rules and regulations, particularly with respect to the acquisition and performance of contracts.
Impact: BAM’s reputation and licence to operate depend on responsible business conduct, by stimulating dialogue on dilemmas. Ensuring compliance with anti-corruption legislation enhances efficiency by reducing transaction costs for BAM and for BAM’s stakeholders. Furthermore, BAM believes that doing business honestly is vital to increasing competitiveness for BAM and for BAM’s partners. Competitive behaviour contributes to innovation and collaboration. It creates an environment in which the best products will win and in which BAM’s stakeholders will get the best products for the best price. The Group believes that by providing financial and non-financial information on the achievement of BAM’s strategic goals, it can continuously improve the reporting process as well as its performance.
Management approach: The chapter Reputation risk describes BAM’s management measures related to business conduct.
> For BAM’s performance, see chapter 4.2 Social performance.
Definition: Overall financial health, including balance sheet, profit and loss, property divestment and working capital improvement.
Impact: A healthy financial performance provides BAM with the means to undertake transactions with its supply chain partners, which leads to the opportunity to develop new activities and to pay BAM’s employees and shareholders.
Management approach: Continuous focus is put on strengthening BAM’s balance sheet and net results by improving its financial processes to ensure a solid track record on project execution and margin stability, including close monitoring of its cost base in line with BAM’s portfolio. Other key elements are working capital management and the execution of a property divestment programme.
> Example KPI: Return on capital employed (ROCE) >10% by 2020.
For BAM’s performance, see chapter 4.1 Financial performance.
Employee recruitment, development and retention
Definition: Stimulating employees to use their competencies, capabilities and experience in a way that adds value to the business and provides personal growth, technical innovation and profit.
Impact: BAM increases its intellectual capital and the human capital of its stakeholders by investing in employee development. While the impact of employee development on wider society is minimal, it is far greater within BAM, where it contributes to employee engagement and lifelong learning. BAM recognises the importance of Group-wide development and implementation of the talent strategy and agenda, succession planning and internal mobility, based on BAM’s organisational development and strategic aims.
Talent management allows BAM to attract, develop, motivate and retain productive, engaged employees, now and in the future.
BAM is committed to the principles of equal opportunity and diversity. The Group believes that diverse teams connect better to the wishes and expectations of its clients and to society in all BAM markets. In line with its vision on diversity BAM aims to attract people with different profiles and backgrounds in order to build teams that are fit for future challenges and will contribute to achieving BAM’s strategic goals.
Management approach: The Group’s development approach is to encourage employees to take ownership of their development with the manager/company adopting a supportive/facilitating role. The employee’s personal development is captured in a personal learning and development plan. These plans are evaluated annually between manager and employee. BAM offers employees various tools that can be used in their personal development, which are all accessible via the internal My BAM Career site. Across the Group, BAM works with a number of universities externally and internally with the Group’s training centres to ensure BAM continues to offer high-quality training and development programmes.
With BAM Business School, BAM offers an integrated approach to support employees in achieving their goals. The training portfolio allows employees to keep their professional knowledge up to date and to further develop the wider skills related to their role and their career paths. Courses include topics like integrity, entrepreneurship, commerce, new contract forms, project development, risk management, procurement and financial management. The Group aims to foster an open culture of learning and exchanging knowledge in the form of training and education, building on the knowledge and expertise available.
> For BAM’s performance, see chapter 4.2 Social performance.
Energy and emissions
Definition: Energy consumption for BAM’s direct activities and the entire lifecycle of its products, and the CO2 emissions as a result of this energy consumption.
Impact: The Group’s energy consumption contributes to a significant amount of its costs and is an indicator of the efficiency of its processes. As a large player in an industry with relatively high energy consumption versus other industries, its energy usage also has a great impact on society. Buildings account for approximately 40 per cent of European Union's (EU) energy demand. The renovation of existing buildings represents more than 17 per cent of the estimated primary energy saving potential within the EU up to 2050. In the field of energy and emissions, BAM can create value by building energy efficient buildings and by renovating buildings to higher energy performance standards.
Emissions that relate to the Group’s energy usage are relevant to BAM due to risks driven by changes in regulation and worldwide support from governments to tackle climate change.
For example: the UN's Sustainable Development Goals (see chapter 2 Strategy for more information on BAM's targets), the Paris Agreement and the EU Emissions Trading System. Buildings account for 36 per cent of EU CO2 emissions. The operation of a building accounts for approximately 80 per cent of the total CO2 emissions through the building’s life cycle. Most of the rate of new construction continues to remain low.
Management approach: BAM innovates and works with value chain partners to identify possible reductions in both upstream and downstream manufacturing and operational processes.
BAM has calculated its carbon footprint in order to identify the main influences and therefore the key areas for potential reduction of emissions. The Group has set targets for both absolute and relative reduction of emissions. BAM’s product-mix of civil and construction work changes constantly due to market conditions, resulting in less predictable reductions in BAM's absolute emissions.
BAM monitors and benchmarks progress on these targets on a quarterly basis for different activities within the company. BAM focuses on reducing its direct CO2 emissions by lowering energy use during the construction process. The Group also maintains its efforts to use higher proportions of renewable energy.
By joining the Dutch Climate Coalition (Nederlandse Klimaat Coalitie), BAM has committed to:
- Having climate-neutral operations by 2050 at the latest;
- Providing insights into its carbon footprint;
- Setting interim targets for climate neutrality;
- Becoming an ambassador of the Dutch Climate Coalition within the construction industry.
> Example KPI: to be included in CDP Climate A list Leadership. For BAM’s performance, see chapter 4.3 Environmental performance.
Definition: An economy which aims to keep materials, components and products at their highest utility and value, at all times.
Impact: Globally, the construction industry accounts for 40-50 per cent of natural resource use and 25 per cent of all timber use. BAM has a continuous need for raw materials, water and energy. This means primary processes are affected by increasing volatility in raw material and energy prices. The products produced by the Group must also meet current and future demands, where the impact of changing laws and regulations, in particular, has proved to be very significant. Waste production affects BAM’s licence to operate and is an indicator of the efficiency of BAM’s processes. Also, waste incurs costs due to the low value of residual material. Activities involved in the construction process generate approximately 25-30 per cent of total demolition and construction waste within the European Union. As a large construction company, the Group’s waste production affects society. As approximately 90 per cent of materials are recycled, it concerns large amounts of materials that are to be reused. BAM has identified opportunities for innovation based on changing client requests, particularly in relation to a greater focus on the recycling of materials and the use of sustainable materials, including timber sourced from sustainable forests.
Management approach: Firstly, BAM innovates to reduce material consumption during the design process. The Group works with its supply chain partners to identify more sustainable alternatives both upstream and downstream of manufacturing and operational processes. BAM focuses on improving the reuse potential of materials as well as renewable materials by asking its main suppliers to provide an insight into the source of the materials.
BAM has set targets for both waste reduction and recycling. The Group monitors and benchmarks progress on these targets on a quarterly basis for different activities within the company. BAM is also the only major construction member of the Ellen MacArthur Foundation’s CE100 programme, which promotes the circular economy.
> Example KPI: source 100 per cent sustainable timber by 2020. For BAM’s performance, see chapter 4.3 Environmental performance.
Local community engagement
Definition: The relationships with the communities surrounding BAM’s activities.
Impact: By its very nature, the Group’s construction and renovation work has an impact on the local community, occupiers and other users of buildings and infrastructure and society as a whole. Community engagement affects the Group’s licence to operate and allows BAM to build faster, which directly leads to results. The Group’s impact on its surroundings immediately affects its employees and local suppliers. And BAM’s community engagement improves jobs and education in its environment, contributing to society as well. This requires a constant focus on everything BAM does to minimise the Group’s negative impact and create value for local communities by implementing community engagement programmes. BAM considers community engagement and involvement of people from diverse backgrounds and provides an opportunity to create value. This is known as ‘social return’ and BAM actively supports its implementation. People who have been unemployed for a variety of reasons (such as poor education, health issues, and people suffering from disabilities), gaining employment due to support given by BAM are considered to be benefitting from social return initiatives. Initiatives such as these can be defined as providing 'Social Return on Investment'.
Management approach: On many of its projects, BAM makes an inventory of local interests and, based on this, opts for the best approach to increase its licence to operate (which could be participation in local events). In addition, BAM participates in the Considerate Constructors Scheme in the United Kingdom and in the similarly inspired Bewuste Bouwers scheme in the Netherlands.
> Example KPI: enhance one million lives in local communities by 2020. For BAM’s performance, see chapter 4.2 Social performance.
Definition: Selecting suppliers and subcontractors and stimulating them to practise their skills and products in a way that adds long-term value to BAM and its clients as well as the suppliers and subcontractors, providing technical innovation and profit.
Impact: Labour practices of the Group’s suppliers and subcontractors affect BAM’s reputation and are associated with the risk of losing work. The Group’s suppliers and subcontractors have to bring their practices at least up to BAM standards to be able to work for the company and in doing so will have a good influence outside of the Group as well.
Management approach: To develop the Group’s supply chain and incorporate its values, BAM seeks added value, long-term, mutually beneficial relationships with partners who can help improve the Group’s supply chain. In order to achieve this, BAM is developing selected group(s) of suppliers and subcontractors on different levels (such as unit, operating company, country and Group) within BAM. By having a preferred group of suppliers and subcontractors we are able to further interact with the supply chain on a regular basis, thereby creating the possibility to challenge each other to learn, innovate and improve our joint performance to the client. Based on the level of the relationship there are different types of suppliers and subcontractors, such as preferred suppliers, partners and co-makers. Based on the challenges in client markets, development in the supply chain and performance of the suppliers and subcontractors, the position and role of the suppliers and subcontractors can change. The challenge is, on the one hand, to select up-front supply chain partners, products and services that really make a difference to the value proposition of BAM, and on the other hand let go of suppliers and subcontractors who add value. Apart from a more standardised due dilligence, suppliers are assessed against five different themes: safety, quality, total cost, logistics and engineering and process. If they score below the required level, BAM starts a dialogue to improve their performance. If they are not willing and/or able to improve their performance, they will be excluded from future work with BAM.
> For BAM’s performance, see chapter 4.2 Social performance.
Definition: The creation of new viable business offerings.
Impact: Innovation influences the ability to adapt to changing market needs and competitiveness with current competition and future entrants into BAM’s market. Digital construction is a main theme within BAM’s innovation agenda. The benefits of digital construction for BAM and its stakeholders are higher resource productivity, end-user value, sustainability and outcome predictability.
Management approach: BAM shapes its future portfolio over two tracks. Both tracks are supported by an organisation and a lively ecosystem for innovation. In both tracks BAM focuses strongly on digital innovation.
- Track one, ‘Business Innovation’, follows an innovation stage gate-process to improve and align BAM’s current innovation portfolio;
- Track two, ‘Scaling edges’, uses scalable learning and sprint methodology to develop and scale new business offerings at the edges of BAM’s current business.
> For BAM’s performance, see chapter 2 Strategy.
Definition: Ensuring compliance within the entire value chain regarding the basic rights and freedoms to which all humans are considered to be entitled, often held to include the rights to equality, a fair trial, freedom from slavery and freedom of thought and expression.
Impact: Human rights practices within BAM and its supply chain affect the reputation of the Group and are associated with the risk of losing work. Subcontractors have to bring their practices up to at least BAM standards to be able to work for the company and in doing so will have a good influence outside of the Group as well.
Management approach: In 2006, BAM and Building and Wood Workers’ International (BWI), signed a framework agreement to promote and protect employee rights. By signing the agreement BAM agreed to recognise and respect:
- The fundamental principles of human rights as defined in the Universal Declaration of Human Rights;
- The ILO Declaration on Fundamental Principles and Rights at Work;
- The ILO Conventions in force;
- The ILO Tripartite Declaration of Principle concerning Multinational Enterprises and Social Policy;
- The OECD Guidelines for Multinational Enterprises.
Within the agreement, BAM also endorses the need for fair negotiations with national trade unions and acknowledges that corruption, bribery and anti-competitive behaviour are not acceptable. BAM is committed to achieving social justice and sustainable development in its activities with its trading partners, subcontractors and suppliers. In that regard, BAM and BWI are working together to ensure that the following social criteria are effectively applied:
- A ban on forced labour;
- The right to equality and diversity in terms of ethnicity, race, gender, religion, political affiliation, nationality or other distinguishing characteristics;
- A ban on child labour;
- A safe and healthy working environment;
- The right to establish and join trade union organisations;
- The right of employees to receive fair pay and respect for the minimum wage;
- The right to suitable working conditions (working hours, facilities, learning and development, health and safety).
Regular meetings are held with management representatives from BAM and trade union organisations, including BWI, to monitor implementation of the agreement. Sub-subcontractors must comply with labour conditions as BAM enforces them on subcontractors. In the UK, The Modern Slavery Act 2015 was announced, requiring all larger companies to prepare a statement of its activities in this area. Both BAM Construct UK and BAM Nuttall have initiated working groups and are working towards developing their approaches.
> For BAM’s performance, see chapter 4.2 Social performance.
Definition: Compliance to the letter and spirit of tax laws resulting in paying an appropriate amount of tax according to where value is created within the normal course of business and being transparent about approach and outcome.
Impact: Tax is a relevant subject for BAM and its stakeholders.
Tax payments to governments can contribute to the development of countries. On the other hand, optimisation of taxes is in the interest of the company and its financial position.
Management approach: Therefore, BAM strives to come to a responsible approach to tax and supports a responsible approach to tax as an integral part of its sustainability agenda.
Find BAM’s responsible tax statement on the website www.bam.com.
> For BAM’s performance, see chapter 4.2 Social performance.
Social, environmental and economic aspects in the short and long term are weighed up whenever strategic decisions are taken. The business principles of BAM respresent the Group's beliefs and are connected to our values. Along with the code of conduct, these principles form a key part of the internal environment in which risk management is conducted.
A. People: We offer added value to clients, employees, business partners and the community.
1. Clients: We always do our utmost to exceed our client’s expectations. We work in partnership with our clients to deliver high-end projects within the timescale set, both safely and with respect for the environment. We encourage our clients to work with us to develop suitable sustainable solutions. We aim to be the preferred supplier for CO2-neutral solutions.
2. Community: We promote good communications with the local community. By its very nature, our construction and renovation work has an impact on local communities, occupiers and other users of buildings and infrastructure and society as a whole. We are pro-active therefore in minimising the level of negative impact on the local environment and seek to make a positive contribution to local communities.
3. Employees: We believe in our employees. We aim to create a safe and inspiring environment for our employees to develop their skills and in turn enable them to contribute to the further development and growth of our organisation.
The commitment to our employees is demonstrated by:
- Health and Safety – Health and Safety is the top priority of our company. We are committed to the continuous improvement of our performance in Health and Safety for all our employees and subcontractors and everyone involved with our activities, including the general public;
- Equality and diversity – We offer a challenging working environment where everyone feels valued and respected. We are committed to offering equal opportunities and we ensure that job applicants and employees do not face discrimination on the grounds of gender, marital status, race, skin colour, ethnic origin, religious belief, sexual orientation, disability, or age;
- Learning and development – We create a learning culture and provide opportunities for our employees to fully apply their knowledge and skills in the service of the company. We are committed to professional development and will help our employees to continue their development in the interests of the company and its objectives.
4. Supply chain partners: We procure responsibly. We treat our supply chain partners honestly and respectfully. We work with subcontractors and suppliers to ensure that they operate safely and in an environmentally-conscious way. Together with our preferred partners, we promote and develop sustainable solutions and best practice for the industry.
B. Planet: We recognise our responsibility to future generations.
5. Energy: We strive to reduce our impact on climate change.
We will improve our energy efficiency, reduce our CO2 emissions
and work with our clients to develop CO2-neutral solutions.
6. Raw materials: We are becoming more efficient in our use of materials. We believe in reducing our impact on the supply of natural raw materials used in our products. We will work with our clients and suppliers to use alternative materials and methods in order to optimise the use of raw materials. We also promote measures to recycle and reduce waste.
7. Environment: We will limit our environmental impact. We take all possible reasonable measures to ensure that our activities are conducted in a way that minimises the impact on the local environment. We promote environmentally-friendly operations and seek opportunities to promote biodiversity on our construction sites.
C. Profit: Creating economic value.
8. Innovation: We innovate to identify balanced sustainable solutions. Innovation is essential for our development and to identify powerful sustainable solutions in the built environment. Together with our partners in the supply chain, from clients to subcontractors and suppliers, we will provide sustainable solutions in which economic, environmental and community interests are well- balanced. This approach ensures that we use materials efficiently and provide good value to our clients.
9. Prosperity: We believe that sustainability results in economic value and we choose to create value by working on effective and profitable solutions for our shareholders that contribute to a sustainable future. We believe that by applying these business principles, we create value for our shareholders, clients, employees and for society as a whole.