The Communications and Sustainable Development department coordinates Wendel’s CSR activities. It relies on a CSR Steering Committee that reports to the Executive Board and is composed of the heads of Wendel’s operating and functional departments.
CSR at Wendel
At the parent-company level, Wendel’s CSR policies are in line with its role as a long-term investor and that of a company with over 80 employees. Wendel offers its employees the best working environment possible, with career advancement opportunities for all. Wendel’s business activities have little impact on the environment. Nonetheless Wendel strives to be exemplary and minimize any negative impact by implementing best practices for managing waste, limiting the use of paper and saving energy.
A Code of Ethics expresses Wendel’s values. It applies to all Wendel employees and executives. This Code constitutes the frame of reference for Wendel’s role as a long-term investor. Its purpose is to respond to new compliance issues, promote a work environment where diversity and equal treatment are valued, ensure that all stakeholders receive the same transparent information and affirm Wendel’s commitment to good corporate citizenship.
Wendel has been committed to good corporate citizenship for a very long time through its corporate patronage activities in education and the arts.
CSR at Wendel’s subsidiaries
As a shareholder, Wendel assesses CSR risks and opportunities at every phase of the investment cycle:
- at the time of acquisition through social and environmental due diligence
- through the long-term support it provides to its companies
Safety and ecodesign are central to Wendel's CSR
As a shareholder, Wendel is not involved in the operational management of its subsidiaries but does ensure, through close communication with subsidiaries’ management teams, that these companies integrate CSR issues in their risk management and growth strategies. The executives of each subsidiary assume direct responsibility for their entity’s CSR policy so that it meets the specific challenges dictated by the subsidiary’s business activities.
Nevertheless, Wendel provides particular encouragement to its subsidiaries in two areas: 1) safety and 2) incorporating environmental considerations into the design of their products and services (ecodesign). The companies in which Wendel is a majority shareholder must produce an annual CSR report and have it reviewed by an independent verifier. In 2017, the scope of the review included Bureau Veritas, Constantia Flexibles, Cromology, Stahl, Tsebo, Mecatherm and CSP Technologies.
The investment teams use the subsidiaries’ CSR reports to work on the areas that were identified during the review as needing improvement.