Case study: How Autoneum creates economic value for its stakeholders
Autoneum is the global market and technology leader in acoustic and thermal management for vehicles, providing components and systems for the entire vehicle. Autoneum seeks to build lasting ties with its stakeholders, generating sustainable value for all. Tweet This!
This case study is based on the 2021 Corporate Responsibility Report by Autoneum, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
Creating, through its business operations, long-term value for all its stakeholders, is a top priority for Autoneum. In order to create economic value for its stakeholders Autoneum took action to:
- create economic value for employees
- create economic value for the state
- create economic value for shareholders
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With this case study you will see:
- Which are the most important impacts (material issues) Autoneum has identified;
- How Autoneum proceeded with stakeholder engagement, and
- What actions were taken by Autoneum to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Corporate Responsibility Report Autoneum identified a range of material issues, such as anti-corruption, emissions, occupational health and safety, effluents and waste, non-discrimination. Among these, creating economic value for its stakeholders stands out as a key material issue for Autoneum.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups Autoneum engages with:
To identify and prioritise material topics Autoneum engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Employees | · Dialog between employees and managers · Employee engagement surveys · Idea management · Intranet · Digital collaboration platforms |
| Customers | · Development process of products and services · In-house fairs at customer premises · Media · Social media |
| Financial community | · Shareholder meetings · Dialog with financial institutions and analysts · Investor days |
| Research | · Cooperation with universities · Scientific lead or participation at conferences · Hosting of students on R&T projects |
| Media & public
| · Communication through media events · Publications · Advertising · Social media and websites |
| Local communities
| · Community engagement projects · Plant visits · Neighborhood dialog · Open-door events · One-on-one dialog with local official representatives |
| Civil society
| · Inquiries · Collaboration projects · Memberships |
| Industry associations
| · Memberships in various organisations · Event hosting · Participation in working groups |
What actions were taken by Autoneum to create economic value for its stakeholders?
In its 2021 Corporate Responsibility Report Autoneum reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Autoneum paid CHF 9 million in employee expenses.
- Creating economic value for the state
- In 2021, Autoneum paid CHF 3 million in income taxes.
- Creating economic value for shareholders
- In 2021, Autoneum paid CHF 8 million to shareholders.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by Autoneum, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.autoneum.com/wp-content/uploads/2022/06/Autoneum_CR_Report_2021-3.pdf
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