How are we part of the solution
The Sustainable Value report, published every two years, provides information on how the BMW Group assumes social and ecological responsibility and thus ensures the Company's long-term success.
Ladies and Gentlemen,
With the Sustainable Value Report 2005/2006, the BMW Group is reporting for the fifth time on its commitment to the environment and society. Together with the Annual Report and the interim reports, the Sustainable Value Report is a fixed component of the Company's reporting. In it we report transparently and openly on factors which have contributed to the Company's success, but which are not found in the financial statements. Thus, customers, employees, suppliers and the general public can see how the Company has taken its responsibility in many different ways -- all in the context of the Company's business development. The question of corporate social responsibility is raised daily. Therefore, we would like to explain our actions and also answer critical questions. That is how we generate trust in the BMW Group and its brands. And this trust is the basis for our success. In the BMW Group we are convinced that we are successful because sustainable action is firmly anchored in our corporate management. And because we are successful, we are able to meet the high standards we set for our actions. For a company also needs the strength to pursue its long-term objectives and to plan and act accordingly.
In terms of sustainability, a company is particularly credible and effective when it takes responsibility for its products throughout their entire life cycle -- from production, through the long phase of use to end-of-life recycling. It is only here, in its own sphere of influence, that the responsibility practiced in a company can really change something permanently -- and at the same time result in competitive advantages and thus create value. However, this sphere of influence does not end at the factory gates or in the salesrooms, but includes the interests of all stakeholders -- of customers and employees, shareholders, business partners and other interest groups. That is why the BMW Group seeks dialogue with all stakeholders and constantly exchanges ideas with institutions, associations and nongovernmental organisations. For we have to talk to one another if we are to understand and shape the future together.
This way of thinking and acting is apparent in many aspects of the BMW Group. For example, the high standards of sustainability that we have set are reflected first and foremost in our products. Our customers must be able to experience it like the proverbial Sheer Driving Pleasure. Uniformly high standards of quality, work safety and environmental protection throughout our production network create the conditions we need to ensure that the products of the BMW Group live up to the premium claim in every way. In addition, themes such as Condition Based Service or a sophisticated recycling concept create value added for the customer, improve our competitive position and conserve resources and environment alike. At the same time, we cooperate with experts at universities and research institutions to develop and put into practice concepts of sustainable mobility.
The responsible use of resources in our production network worldwide helps us not only to secure a leading position among our competitors, but also to cushion the impact of fluctuations on the international raw material markets.
As an attractive employer, we shall continue to be able to recruit the most suitable and dedicated employees. After all, on the labour market, a sustainable corporate culture based on the principle of performance and reward creates competitive advantages, which cannot be measured in monetary terms -- and are in fact priceless.
These examples all show that sustainable action and corporate success belong together in the BMW Group. This conviction has always been, and will continue to be, the basis of our success.
Helmut Panke
Chairman of the Board of Management