Profitability and environmental thinking – an effective combination
A company does not need to compromise environmental thinking, staff welfare, or social responsibility to be profitable – in fact this can be a corner stone of the business concept. This is highlighted in Swedish pump manufacturing company, ITT Flygt’s Sustainability report 2001. ITT Flygt is one of a handful of Swedish companies that publishes a complete Sustainability report according to the Global Reporting Initiative (GRI), guidelines, which are supported by the UN.
As a part of the company’s business strategy, ITT Flygt regularly produces a Sustainability report. For ITT Flygt the concept of sustainability is understood to represent the integration and management of economic, social and environmental performance. The company is a forerunner in the area, and this is the third report they have published, which follows the guidelines drawn up by GRI.
“For our company working with sustainability, with its three focuses - environmental thinking, social responsibility and economic success - is an important part of our business concept. In our activities we should always act in a way that meets today’s business demands, without jeopardising anything for future generations,” says ITT Flygt President, Anders Hallberg.
As the company is 100% owned by ITT Industries, ITT Flygt does not produce an annual report. The Sustainability report is therefore an important channel to present the company’s activities, and the vision and goals to employees around the world.
The report includes a unique comparison of the production facilities in Argentina, China, and Sweden, in an effort to create greater global understanding between the company’s employees. Facts on production, salary, environmental work and human rights are included among other general information on the countries.
“Naturally the type of information that comes from a Sustainability report provides us with lots of positive news, however it also highlights certain weaknesses, which we are aware of. By finding out the areas that need to be addressed, we can work towards improving these,” concludes Anders Hallberg.
Examples from the Sustainability report 2001:
- ITT Flygt act according to the United Nation’s nine guidelines set in the Global Compact initiative (mars 2002).
- No fines or charges have been imposed on ITT Flygt for breaking national or local rules or laws
- Total sales for 2001 were very positive despite the turbulent world situation, 617 MUSD.
- The average days of absence due to illness in 2001 were 0.48 days. Although this is an increase from 0.30 days in 1999 it is still a low figure.
- 78% of all the electricity that is used at ITT Flygt is “green” electricity.
- Water consumption has decreased by 25% during the period 1997 – 2001.
- Minimum wage within the company is between 35 –1200 USD per month. All minimum wages payed by the company are above those set by law in each respective country.
Order information
ITT Flygt’s Sustainability report can be viewed and ordered at the following web address www.flygt.com/sr01
Further information on GRI and the Global Compact can be found at
http://www.globalreporting.org
http://www.unglobalcompact.org
For more information:
Magnus Enell, Corporate Manager, Sustainable development
Telefon: +46 (0)8 475 67 26, e-post: magnus.enell@flygt.com
Therese Bergmyren, Project Manager, Market communications department
Telefon: +46 (0)8 475 60 00, e-post: therese.bergmyren@flygt.com
Source: Xylem Inc.
