Volvo 2001 Annual Report Download - page 26

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Volvo in society
Volvo in society
Every company is a part of the society and
has therefore an obvious responsibility for its
products and activities. A responsible con-
duct contributes to a good perception of the
company, it provides a base for commercial
success and for positive long-term relations
with customers and suppliers. It makes the
company an attractive employer. And it will
pave the way for fruitful cooperation with
politicians and governments.
Volvo’s credibility is to a large extent
based on a long tradition of responsible busi-
ness conduct and long-term and consistent
efforts to improve quality, safety and the
environment. To take this a step further,
Volvo signed the UN initiative Global
Compact in November 2001. In practice,
Volvo has applied the principles of the
Global Compact for a long time, in human
rights, labor issues and environmental care.
By signing the Global Compact, Volvo fur-
ther clarify its ambition to be a responsible
and credible member of the society.
Strong stakeholder relations
Creating value for stakeholders is imperative
for the success of Volvo’s long-term business.
In the Volvo Group this means being very
active in building relationships and trust,
through vivid dialogues and open informa-
tion. Participating in projects with other
stakeholders is an important way of sharing
knowledge, examples are found in research
conducted with universities, in government
investigations, and local public awareness
activities. The Volvo Group has numerous
stakeholders. All are important for the devel-
opment of the company, but some are more
highlighted daily. Our customers’ business is
our business. Our employees embody the
competence of the Volvo Group. Our share-
holders provide financial opportunities for
our operations. Our “broadest” stakeholder,
the society, sets the legal framework and
overall trends, and one of the major chal-
lenges is the environmental impact of trans-
port, the climate change and traffic safety
issues.
Activities in society
Sponsorship has been an integral part of
Volvo’s business for nearly 40 years. Each
year Volvo invests in sponsorship of selected
projects and organizations, in sports, culture
and society. Sponsorship and other activities
in the society are conducted in several ways
within the Volvo Group. Major undertak-
ings, like the Volvo Ocean Race, engage the
entire Group globally. The individual com-
panies are also involved in diverse sponsor-
ing events and activities together with the
local society. When logistically possible,
equipment such as trucks and construction
machinery could be made available for use in
emergency rescue and recovery operations at
catastrophes, like the earthquake in Turkey
1999, and in New York, after the events of
September 11, 2001.
More long-term activities include educa-
tional programs such as a Swedish training
program for young people in entrepreneur-
ship, a transport development partnership
with the Göteborg region, and prizes as the
Traffic Safety Award in Brazil, and the Volvo
Environment Prize.
VOLVO IN SOCIETY
Global Compact
The nine
principles of the
Global Compact
Global Compact was
initiated by the UN in
December 2001. The business com-
munity is encouraged to strive for
sustainable development by being
good citizens in society.
Human rights:
•to support and respect the protec-
tion of international human rights
within our sphere of influence
•to make sure our own corporations
are not complicit in human rights
abuses
Labor:
•to uphold freedom of association
and the effective recognition of the
right to collective bargaining
•to uphold the elimination of all
forms of forced and compulsory
labor
•to uphold the effective abolition of
child labor
•to uphold the elimination of discrim-
ination in respect of employment
and occupation
Environment:
•to support a precautionary approach
to environmental challenges
•to undertake initiatives to promote
greater environmental responsibility
•to encourage the development and
diffusion of environmentally friendly
technologies