4. Responsible Value Chains
By 2050, Continental aims to have the value chain designed on the basis of fully responsible sourcing and business partnerships. In a fully responsible value chain, each partner creates ecological, economic and social value for society. Global companies in particular can have a major positive impact on the societies in which they operate and help to ensure a dignified life for the world’s population, which is estimated to reach 10 billion in 2050. In addition, companies ensure their own business prospects for the future through responsible action. The rules of play are increasingly also being determined by politics. With the German supply chain law that will come into effect from 2023 and the corresponding guideline at the European level, the systems developed for human rights due diligence are being subject to increasingly strict and specific regulatory requirements.
As a global player, for Continental this means, in the short to medium term, carefully examining the impact of its own business activity in order to understand and improve the social and ecological balance. For this reason, the company is pursuing the globally accepted concept of human rights due diligence, as it is set out in the United Nations Guiding Principles and OECD Guidelines. “In the long term, Continental will have to take far-reaching measures, however. The main objective is to protect human rights and the environment at every link in the chain: from raw materials to production, to the customers, and to creating added value for society,” said member of the Executive Board Dr. Ariane Reinhart. To this end, the conclusion of new partnerships will be required in order to avert negative social or environmental impacts before they arise.
This change of pace will be essential for our future viability. In addition, a responsible value chain goes a long way in helping to ensure that companies continue to have access to resources and markets worldwide over the long term. Continental’s future growth markets already play a major role in the company’s supply chains. Value creation in these markets as well as support with respect to its political stability and development will therefore expand Continental’s future customer base.
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