Transforming Our Business
In our business strategy, we focus on two main approaches; protect the value and create the value. By balancing these two focuses, we are ensuring the sustainability of our business while also fostering its growth and evolution. It is a dynamic approach that recognizes the importance of both preservation and progress.
Protecting value reflects the preservation of core businesses and how we manage our current operations and the culture we foster within them. Our management systems provide the framework for ensuring that sustainability and responsible practices are integrated into every aspect of our operations to improve the resilience of our businesses.
Following a responsible business approach, we focus on sustainable products, services, and sustainable finance. R&D, innovation and digitalization help us find new ways to accelerate the transformation to serve sustainability for a better life. Creating value reflects progress and growth to make a positive impact. We seek opportunities to expand our businesses in ways that generate financial returns while driving positive impacts for our stakeholders. Therefore, we seek opportunities to support innovative solutions that reshape industries and align with sustainable practices by investing in new growth platforms such as energy and climate technologies, material technologies, mobility solutions, and digital technologies.
With energy and climate technologies, we seek solutions to address the challenges of the climate emergency for a sustainable future, while our investments in advanced material technologies increase resource efficiency and resilience while promoting a circular economy and reducing waste. Leveraging digital technologies, we empower businesses to optimize their operations, minimize their environmental impact, and enhance social well-being.
By integrating sustainability into our investment decisions, we not only create value for our shareholders but also contribute to building a resilient and thriving global society for future generations. We believe this model of value creation is essential for the continuity of our planet, our society, and our business.
Commitment to the United Nations Sustainable Development Goals (SDGs)
Alignment to the United Nations Sustainable Development Goals (SDGs) serves as a guiding principle in our strategic decision-making processes, ensuring that every initiative we undertake contributes positively to the advancement of the SDGs. This approach not only drives financial performance but also generates positive impact for the communities we serve.
In 2023, a remarkable 83% of our R&D and innovation expenses were dedicated to SDG-linked projects, reflecting our commitment to fostering a sustainable product and technology pipeline. Furthermore, all our business development initiatives, including entrepreneurship programs, are strategically aligned with the themes encapsulated in the SDGs. Our R&D teams across the Group are also focused on SDG-linked innovation, with some businesses allocating as much as 100% of their R&D expenses to projects aligned with the SDGs. This underscores our unwavering dedication to leveraging innovation as a driver of sustainable development across all sectors of our operations.
