Volvo 2011 Annual Report Download - page 51

D VALUE
The Volvo Group believes there is no contradic-
tion in running a financially viable business while
contributing to sustainable development. A stra-
tegic CSR (Corporate Social Responsibility)
approach is increasingly important for the Volvo
Group’s competitiveness by e.g. improving brand
image, reducing cost, creating new business
opportunities and building stakeholder relation-
ships.
The Volvo Group is convinced that responsible
business contributes to long-term success.
Responsibility is deeply rooted within the Volvo
Group and is based on the values and principles
in the Group’s Code of Conduct. The Volvo Group
strives to assume economic, environmental and
social responsibility for its operations, products
and services within its sphere of influence in the
value chain. The Volvo Group believes this
approach is essential to build lasting relations
with customers, employees, suppliers and other
stakeholders.
The Volvo Group’s global foot print has
changed dramatically in the past decade. The
Volvo Group has grown significantly and has
welcomed new employees and new entities. As
a consequence, the Group is operating in approx-
imately 190 markets. Local conditions differ – as
do the expectations on business in different parts
of the world.
From risk to value
For a long time, CSR has primarily been seen as
an effective risk management tool and for opti-
mizing the use of resources. Risk management
and building relationships with stakeholders are
important components of the overall CSR strat-
egy. However, the Volvo Group believes that this
approach fails to fully explain the business
potential of CSR or how a proactive approach
creates value for the Volvo Group. The Volvo
Group is convinced that CSR is much more than
a risk management tool.
Creating shared value
The world faces urgent global challenges, such
as climate change, depletion of natural resources
and uneven distribution of wealth. The complex-
ity, size and scale of these challenges require
cooperation among states, regions and different
sectors of society. The expectations on business
to provide solutions to the challenges are growing.
Today, a company is largely judged by the value
it brings to society
The Volvo Group develops products and serv-
ices based on customer needs and the Group
intends to give its shareholders a good return on
their investment. But the Group also strives to
serve society by providing solutions that meet
the challenges of sustainable transport. This is
what the Volvo Group means with Creating
shared value.
Sustainability is part of
our business
– Responsibility is part
of our culture
Responsible business is good business
The Global Compact
The Volvo Group is a signatory
of the UN Global Compact.
Sustainable Transport Solutions
Sustainable transport solutions to
the Volvo Group are solutions that
“improve the short and long term
economic and environmental per-
formance meanwhile social impact
is considered”, by providing:
The right product
or service in order to
contribute to high pro-
ductivity in the transport
system
Energy efficient
transport solutions
with very low emiss-
ions of CO2, PM,
NOx and noise
Safe and secure
transport solutions
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