Sustainability requirements, especially with reference to so-called ESG topics (Environmental-Social-Governance), as well as high obligations for corporate due diligence are increasing strongly and are increasingly a prerequisite for business relationships.
Based on the ZVEI Code of Conduct of 2008, the association, together with the VDMA, developed a cross-industry Code of Conduct in 2021, which is available to member companies, their suppliers and all interested parties. Accompanying tools (guidelines for implementation and training documents for in-house use) are also currently being developed and are expected to be made available to member companies from summer 2022.
The new Code of Conduct describes the principles and standards of conduct relevant to the electrical and digital industry as well as mechanical and plant engineering, which the signatory company must observe in the sense of responsible action. The ZVEI-VDMA Code of Conduct is based on internationally established standards and covers all relevant topics. It is voluntary in its application and represents a non-binding association recommendation. The Code of Conduct is designed as a voluntary commitment that can be applied and communicated within the company and to partners such as customers and suppliers.
Companies that use the Code of Conduct must ensure, within the framework of a voluntary commitment, that its contents are also implemented. The necessary processes must be set up and, if necessary, measures must be taken to ensure that the obligations listed in the Code of Conduct are met.
The Code of Conduct is an expression of the shared values of the ZVEI and VDMA. Both industries are at the centre of large value-added networks and, with the Code of Conduct, are making an important contribution to even more responsibility-oriented corporate governance.