Another part of our strategy that we have further sharpened is our foundation. We have widen the scope to Sustainable Business containing three key elements: People, Planet and Profit.
Balancing these social, environmental and financial demands are often referred to as managing the triple bottom line:
People refers to the social equity bottom line, concerning the regions and communities in which we operate as well as current and future employees. Aspects such as health and safety, diversity, empowerment, engagement and Core Values are included here – to make sure that our ethical and social behavior is line with the expectations of customers, owners, employees and future employees.
Planet refers to the environmental bottom line, covering for example recycling, emissions to air, soil and water, productivity and innovation within our own operations as well as in our offer. To work in various ways to make our environmental impact no larger than it has to be.
Profit refers to the economic bottom line, to reduce any waste of resources and money.
The trend is a growing awareness of and interest in sustainability matters, not only limited to the environmental aspects but also including the social and financial ones.
As a leading company in the metal cutting industry, we have a duty to develop better solutions that ensure, for example, higher productivity with reduced environmental impact, irrespective of the industry we serve. At the same time, we believe that there is a business potential and commercial attractiveness in bringing sustainability into our offerings.
The World Council for Economic Development (WCED), explains sustainable development as a development that "meets the needs of the present without compromising the ability of future generations to meet their own needs."
In other words: Shaping the future together