Our Approach
Thule Group aims to contribute to a more sustainable world by offering innovative, high-quality products that inspire people to live an active life, and which are manufactured responsibly with the least possible impact on the climate and environment.
It is from the perspective of social, environmental and financial responsibility that we can contribute to a lasting and responsible sustainable development.
We work strategically and with a long-term approach in accordance with the UN’s 2030 Agenda for Sustainable Development. Our sustainability initiatives encompass the entire value chain and are described in our Code of Conduct and policies. The Code is integrated into both our strategic and day-to-day work, and permeates our operations. Continuous improvements provide the basis for our sustainability efforts. We have a deep respect for the impact of our products and operations on the environment and climate.
Our consumers should feel confident that our products are safe and we strive for transparency with regard to how they are developed and manufactured. Our employees must be able to conduct their work in a healthy and safe workplace, and the same shall apply to suppliers and sub-suppliers. Our investors should feel that their investment is sustainable in the long-term.
GRI and the UN Global Compact
Our sustainability efforts conform to the Global Reporting Initiative’s (GRI) principles and guidelines. In 2018 we reported according to GRI Standards: Core Option. In 2019, we took an additional step by reporting several new parameters and indices so we are reporting beyond the GRI Standards: Core option. We are receiving an increased number of requests for sharing data that falls in line with the GRI and the UN’s Sustainable Development Goals, and in 2020, we have therefore further refined our reporting and added several indexes to offer even more transparency.
Thule Group has also been a member of the UN Global Compact since 2017, and our policies are deeply rooted in the ten principles on human rights, labor, the environment and anti-corruption. In 2019 we reviewed our Code of Conduct, refined our Anti-Slavery Statement, updated our anti-corruption policy and resolved on a new anti-discrimination and harassment policy. In 2020 we also implemented a new web-based training module for all policy documents and produced new educational material in regards to our Code of Conduct. We follow up to ensure that all employees have read and understood guidelines and Thule Group’s core values, and the Code of Conduct in particular. Progress in the UN Global Compact initiative is reported in our annual Communication on Progress.
A deeper dialogue
We maintain ongoing dialogue with our stakeholders to better understand the expectations and requirements the stakeholders have for Thule Group as a company and employer and in respect to our brands. In 2020, we intensified our dialogs with investors, experts, and consumers. There is a considerable interest in how we pursue our sustainability efforts. Questions that were discussed primarily concerned the climate and environment, but the social responsibility goals of our suppliers and our company were also addressed. Questions are also increasing in frequency about risks that have a bearing on sustainability and about circular business models.
We also participate in a large number of ESG surveys, which evaluate our sustainability efforts from environmental, social and corporate-governance perspectives, compared with what other companies do, and thereby providing insight and knowledge about how and what we can do better. In 2020, we signed a three-year agreement with South Pole, a well-established company in emissions assessments, so as to obtain an independent review of all our sustainability data. This has resulted in a written assessment that is now included as a part of our annual report. The quality of our analyses was further strengthened through the use of Worldfavor, a digital reporting tool that we introduced in 2019. We are convinced that an in-depth knowledge of our own condition is the only means by which we can drive our sustainability efforts forward and continue to improve.
In conjunction with Thule Group signing to commit to the SBTi, we have also joined up with the CDP (Carbon Disclosure Project) supply chain database. We are thereby not limited to only reporting on our own sustainability efforts, but can also obtain data, such as greenhouse gas emissions, from our suppliers.