Understanding the increasing stakeholders’ anticipation for corporate responsibility and accountability, TenCate developed and integrated in 2013 a proactive CSR approach and strategy that advances the transparency. The TenCate CSR strategy can be categorized into 5 sections:
- Triple bottom line mindset. The essence of Corporate Social Responsibility is understanding “the triple bottom line”: People, Planet and Profit. TenCate not only looks to maximize their profits but as well includes environmental and social concerns. As an illustration, in 2013 TenCate improved the utilization of environmentally friendly electricity at production plants throughout the world, and the company’s factories generated 14 percent less CO2 than last year.
- CSR management. TenCate has a committed CSR team. Last year, 2013, a corporate CSR regulator has joined TenCate’s corporate CSR team to be able to enhance the accumulation, evaluation, aggregation, and validation of all CSR information and enlarge or extend these data where and when necessary. TenCate’s corporate CSR staff reports directly to the Executive Board, specifying the corporate targets and ambitions, and the company’s CSR programme on an annual basis. The targets and outcomes are evaluated with the central management and group management when possible every three months. If required, the management of each group makes modifications to the implementation
- Stakeholder interaction approach. TenCate initiated various activities in 2013 to sustain and improve relationships with a large number of stakeholders. The company was actively involved in many organizations in order to establish, exploit or strengthen partnerships and open innovations, and this involved extensive dialogue with researchers, shareholders and potential investors.
- High standard of transparency. TenCate on a regular basis releases sustainability studies, responds to research studies and makes it possible that third-party audits are examining the working circumstances in the company’s supply chain. Environmental facts and details of the numerous strategic concepts are offered in TenCate’s textures magazine, on the corporate website, and via the company’s up-to-date IR app. For new technology applications for their branding activities, they also look at, for example, new companies like Takeaway.com.
- Advanced, holistic approach. When it concerns sustainability, TenCate has a holistic approach. This is easily seen on the company’s website where a page dedicated to CSR, is prominently available. It is obvious that the company’s responsibility is not only towards shareholders, but to all stakeholders, and these include everyone who could possibly be influenced by the company’s performances and practices, from employees to neighboring communities and beyond. TenCate works closely together with Dutch tire giant Vredestein to streamline new developments and their Corporate Social Responsibility activities.