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TK Elevator provides information on sustainability activities and targets in new ESG report

·5-min read
  • New publication with all key facts on environmental protection, social responsibility, and governance (ESG)

  • Important progress already in the first year as an independent company.

  • Ambitious targets and clear commitment in all areas

Düsseldorf, July 9th, 2021 - At TK Elevator, business and sustainability goals go hand in hand. Through a newly published ESG progress report, the company provides information on the entire spectrum of sustainable approaches and activities - from resource management to labor standards and human rights.

"I firmly believe that environmental protection, social responsibility, good corporate governance, and financial ambition drive sustainable, profitable growth at TK Elevator. ESG has always been a fundamental part of our corporate strategy," explains Peter Walker, CEO of TK Elevator. "I am proud of how much the principles of sustainability are lived and driven by our employees."

Just four months after the spin-off from the thyssenkrupp Group, TK Elevator was included in the prestigious Climate Change A-list of the globally recognized Carbon Disclosure Project (CDP) and thus recognized for its activities to reduce emissions and minimize climate risks. As a signatory to the UN Global Compact, the company is committed to human rights, fair working conditions and environmental protection as well as to fighting corruption. In addition, TK Elevator actively supports the goals of the United Nations Sustainable Development Agenda and the associated Sustainable Development Goals (SDGs).

Environmental protection, social responsibility, and good corporate governance

TK Elevator's activities are focused on three core areas: Regarding environment and climate protection, the aim is to meet mobility requirements as part of the global urbanization process through smart technologies and intelligent solutions. In the social area, the focus is on safety in the workplace, workforce diversity, and social responsibility. In terms of corporate governance, TK Elevator stands for fair partnerships based on trust and unconditional compliance with all relevant regulations.

Zero emissions and smart efficiency

As one of the CDP's Global Leaders, TK Elevator belongs to the leading companies in terms of reducing emissions. The company strives to become climate-neutral by 2050 at the latest and thus supports the "Business Ambition for 1.5°C" initiative based on the Paris Agreement goals. Today, a large proportion of the company's own emissions are caused by its vehicle fleet. These emissions will be reduced by switching to electric and hybrid vehicles as well as optimizing routes. By 2030, all the energy required will come from renewable sources. Innovative products and services such as elevators and escalators with the highest energy efficiency ratings, the cloud-based digital platform MAX or the space-saving TWIN elevator system help increase resource efficiency and reduce CO2 emissions throughout the value chain.

Social - zero accidents and strength through diversity

The safety of users and employees is a top priority for TK Elevator and the basis for business success. The company has made significant progress in this area over the last 10 years, reducing the frequency of accidents by almost 90%. In the last two years, a 50% reduction has been recorded. The ultimate goal is zero accidents. To achieve this, TK Elevator has joined with other industry players to form the Global Elevator Safety Forum - an industry-wide platform with a common goal: a safe industry with zero fatalities.

Diversity makes us strong: Diversity, inclusion, fairness, and respect are core corporate values. They are designed to enable employees to develop their full potential. A total of 30 different nationalities are based at the company's headquarters in Düsseldorf, and 20 percent of the Group's senior managers in leadership positions are women - their share is set to rise to 30 percent by 2025.

As part of its social responsibility, TK Elevator is working with SOS Children's Villages to expand training opportunities for disadvantaged young people - including in India, Colombia, and Thailand. In the wake of the Covid-19 pandemic, the company also made its MAX platform available free of charge at hospitals and other medical facilities to ensure the smooth operation of critical infrastructure.

Corporate governance - zero tolerance and shared values

Being a standalone company, TK Elevator has established a modern compliance management system, a global compliance team, a new whistleblower system, and new e-learning programs tailored specifically to its business model. "We deeply believe in tough and fair competition for the benefit of our customers and in conducting business with integrity. Violations will not be tolerated," underlines Peter Walker.

In addition, continuous dialog with suppliers is used to reduce risks in the supply chain and leverage potential for improvement. To this end, the Supplier Code of Conduct was renewed and published in March 2021, and corresponding sustainability audits were carried out at the suppliers' sites.

"We continue our journey towards a sustainable future and see this progress report as a starting point for more transparency. We look forward to intensifying dialog with all our stakeholders to continuously develop our ESG approach," adds Peter Walker.

INVESTOR RELATIONS CONTACT

Christian Schulte
Head of Investor Relations
Tel: +49 211 5400413417
Email: christian.h.schulte@tkelevator.com

Nicole Getta
VP Investor Relations
Tel: +49 211 5400413193
Email: nicole.getta@tkelevator.com



ABOUT US

TK Elevator (formerly: thyssenkrupp Elevator)

With customers in over 100 countries served by 50,000 employees, TK Elevator achieved sales of around €8 billion in the fiscal year 2019/2020. Over 1,000 locations around the world provide an extensive network that guarantees closeness to customers. Over the past decades, TK Elevator has established itself as one of the world’s leading elevator companies and became independent since its sale by thyssenkrupp AG in August 2020. The company’s most important business line is the service business represented by over 24,000 service technicians. The product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and moving walks, passenger boarding bridges, stair and platform lifts. Integrated cloud-based service solutions, such as the MAX platform, are gaining in importance. With these digital offerings, there are no limits to urban mobility anymore. TKE – move beyond.

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