Message from the Chairman of the Board of Management

Ladies and gentlemen,

The economy and society are both undergoing a process of change which is very probably without precedent for all of us in terms of its dimension and scope. While digitalization is revolutionizing both individual processes and entire business models, the urgent need to deal more sustainably with natural resources is putting the entire way we do business and our individual behavior to the test. Under demanding circumstances, we are faced with the challenge of shaping a future that is worth living – for us and for generations to come.

Technology and innovation will play a decisive role in overcoming these challenges as environmentally-friendly and climate-saving technology opens up new possibilities to bring about the necessary changes.

It is no coincidence that digitalization and sustainability are among the cornerstones of TÜV SÜD’s business strategy. This focus lies at the heart of our company. For more than 150 years, TÜV SÜD has been supporting technological progress, creating trust in the safety and security of new technology – the key prerequisite for broad acceptance in society.

With our expertise, our skills and experience in evaluating complex technologies and processes, we accompany our customers on their journey towards future-proof products and processes. Together with our customers, we make it possible for sustainable technologies to unleash their full potential.

This applies to the use of renewable energies and also the use of hydrogen as an energy storage medium, the climate-friendly alignment of buildings or industrial production, or the education and training of skilled labor. With the broad range of services we offer, we drive forward sustainable development in business and society and thus also support the United Nations’ Sustainable Development Goals (SDGs).

However, it is also clear that only if we as a company act in a sustainable manner ourselves and are credible in terms of our commitment will we be our customers’ partner of choice with our services for greater sustainability. Consequently, in 2022 we continued our efforts to make our commitment to sustainability more systematic and specific. We have set ourselves measurable targets in all of the relevant action areas, backed these up with concrete measures and measured the progress we have made thus far towards achieving these targets.

For climate protection this means: We want to save as many emissions as possible. We will offset any remaining emissions from 2025 onwards using CO2 certificates certified according to established standards. In this way, we want to make a contribution towards meeting the climate-related Sustainable Development Goals; we would also like to steadily increase our level of energy efficiency – primarily in the operation of buildings. Just how seriously we take this can be seen, among other things, from our three large real estate projects – “Newton”, “Algorithmus”, which is under construction in Munich, and the Asian headquarters in Singapore. At the time of construction, all three buildings comply with the highest possible energy standards. On top of this, we are also investing in photovoltaic systems and the energy-efficient renovation of existing buildings. At the same time, we are also encouraging the use of electromobility, including the creation of the necessary charging infrastructure, with the number of charging points at our locations increasing year by year.

Alongside our commitment to the climate and the environment, we are also committed to equality of opportunities and participation in the company. Here too, we believe we are on track to achieve our targets. By 2026, for example, at least 30% of our executives should be women.

We have also set a clear target for the training of our employees: Every employee in the company should complete at least 35 hours of training per year. In 2022, we exceeded this target for the first time and going forward we want to not only maintain this high level, but increase it further.

All of these targets and actions are designed to make TÜV SÜD one of the most sustainable companies in its industry. The results of the EcoVadis sustainability rating also show that we are making good progress in this regard. In 2022, we achieved platinum status and are thus among the best-rated companies in our category.

This report, which was prepared in accordance with the standards of the Global Reporting Initiative (GRI 2021), details what we have achieved in the past year. In this way, we provide transparency in respect of our targets and measures for greater sustainability and we explain how we have anchored sustainability in our guidelines, our decisions and our day-to-day actions. Because we are convinced that transparency and dialog are the first steps towards trust-based, joint action.

This is one of the reasons that our corporate publications this year bear the slogan “ONE Tomorrow”. Because we only have one shared future – and only if all economic and societal forces work hand-in-hand can a future worth living be created.

Kind regards,

Dr. Johannes Bussmann
Chairman of the Board of Management