Global Cosmed’s Management Board on 28 March this year adopted a Sustainable Development Strategy for 2022-2024. The document presents 4 pillars on which the management of ESG factors in the company is based. Alongside corporate governance, environmental issues, employee and social dialogue, the strategy emphasises process and product quality. Implementation of the strategy will be the responsibility of the ESG Council reporting directly to the company’s Management Board. The document itself was created through extensive dialogue with the company’s environment, and is intended to strengthen stakeholder awareness of the company’s pro-environmental activities and top quality management standards.
Global Cosmed Group, which has been focusing on quality and building its own brands for years, has announced 4 main ESG directions in which it wants to develop its business in the coming years. The document was adopted at the highest management level and covers all companies and production sites in Poland and Germany. The starting point is the company’s mission and values. As we read in the introduction,the strategy defines a series of choices that determine how the company intends to achieve its business objectives. Permeating all spheres of the company’s activity, it is an inherent way of thinking about its impact on the environment in the context of ESG: governance – environment – social aspects.
“The strategy integrates Global Cosmed’s existing activities, fills in the gaps and adapts to the challenges posed to us by shareholders, employees, suppliers or buyers, while leaving a certain flexibility, a buffer to respond to changing legal conditions or consumer trends. The basic four pillars of the Strategy (Responsible Management, Green Global Cosmed, By People – For People and Quality Guaranteed by Global Cosmed) also take into account the global goals presented by the UN and under the European Green Deal, as well as market and consumer trends,” commented Magdalena Mielimonka, Vice President of the company’s Management Board.
“The circular economy, the EU taxonomy, quality, ecology, respect for human rights, responsible supply chain, transparency and continuous improvement are the most important ideas of the modern world reflected in the document. It is important how the strategy is developed and how it is to be implemented. The key word is dialogue, shared responsibility and understanding not only of individual terms but of the links between them. The strategy was developed through the sharing of knowledge, insights and a shared concern for the development of the company by both external stakeholders and employees. The strategy will now be implemented by the entire Global Cosmed team.” concluded the ESG Leader responsible for its creation, Magdalena Sułek-Domańska.
In order to effectively implement the Sustainable Development Strategy, governance structures have been created which place specific responsibilities on different functions and bodies. In this way, the lines of action set and the internal targets adopted will be implemented and monitored accordingly. The company announces that this year’s Global Cosmed Group Sustainability Report 2021, to be released in April, will include details on each of the designated pillars and directions. The report will be available at www.dr-miele.eu