RWE signs German Sustainability Code
Berlin, 21 May 2012 – The Essen energy group RWE has become the first publicly traded company to declare its conformity with the German Sustainability Code (GSC).
Peter Terium, Deputy Chairman of the Executive Board and Head of Corporate Responsibility with RWE AG, stresses: ‘The theme of sustainability has very high priority for RWE and for me personally. I support the German Sustainability Code because it presents performance in the area of sustainability in a transparent and comparable way. One would now wish to see this information being taken into account by the capital market when making investment decisions.’
The German investor network of the Principles for Responsible Investment of the United Nations (UN PRI) recently recommended its signatories to apply the Sustainability Code in investment decisions and when documenting the fulfilment of the principles in their core business activity.
Dr. Wolfgang Engshuber, Chairman of the UN PRI, emphasises the global importance of the instrument: ‘International investors are increasingly taking sustainability criteria into consideration in their investment decisions. However, there is still a lack of transparency and international standards in reporting. The German Sustainability Code is an important milestone and could also set standards for Europe.’ According to Dr. Engshuber, the issue is also what significance the Sustainability Code has for the international discussion on integrated reporting and what should be done to repair the obvious damage suffered by the financial system.
According to Marlehn Thieme, Chairwoman of the Council for Sustainable Development: ‘With the first visible pledges by major companies, we have taken a decisive step in the direction of effectiveness and greater accountability. With the aid of standardised information, the importance attached to sustainability within a company will rapidly become apparent. It is not enough to offer green products – the processes behind products and services are no less important for the sustainability debate.’
In 2010, in the light of the financial and economic crisis, the Council for Sustainable Development began a consultation with representatives of business, investors, financial analysts and researchers from which the German Sustainability Code has now emerged. This advisory body of the German Federal Government passed the Sustainability Code in October 2011 and recommended that it be used as a voluntary instrument. In doing so, it aspires to bring about a fundamental reorientation of business and society towards sustainable development.
Additional information and declarations of conformity that have been submitted can be found on the project website www.sustainabilitycode.org.
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Rat für Nachhaltige Entwicklung, Office c/o GIZ
Katja Tamchina
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The Council
The German Council for Sustainable Development has 15 public figures, who are appointed by the Chancellor for a 3-year term of office. The tasks of the Council include developing contributions to the national sustainable development strategy, specifying concrete fields of action and projects as well as helping to make sustainability a major public concern. The Council has free rein in its choice of topics and forms of action. Results of the ongoing work are, for example, the German Sustainability Code, the Sustainable Shopping Basket, the "Contemporary Carlowitz - Young Ideas for Germany's Sustainability Policy", Zukunftsdialog_Vision2050, comments on commodity policy, on fiscal sustainability, organic farming, the projects of Workshop N, the the strategy dialogue with mayors as well as contributions to the "green economy" and on the preparation of the 2013 Peer Review.
German Council for Sustainable Development (RNE)
German Council for
Sustainable Development (RNE)
Office c/o GIZ
Dr. Günther Bachmann
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E-Mail: guenther.bachmann@
nachhaltigkeitsrat.de
Web: www.nachhaltigkeitsrat.de
Press contact
German Council for
Sustainable Development (RNE)
Office c/o GIZ
Katja Tamchina
Potsdamer Platz 10
D-10785 Berlin, Germany
Ph.: +49 / 30 / 408190-233
Fax: +49 / 30 / 408190-22233
E-Mail: katja.tamchina@
nachhaltigkeitsrat.de