2014 German Investors’ Award for Responsible Business Practices goes to Munich Re and MTU Aero Engines
On December 5th, Deutsche AWM and the M. DuMont Schauberg media group conferred the German Investors’ Award for Responsible Business Practices for the fourth time.
The 2014 award winners are Munich Re and the aircraft engine manufacturer MTU Aero Engines.
Asoka Wöhrmann, the CIO of Deutsche AWM, together with Robert von Heusinger, Executive Director of the media group M. DuMont Schauberg, presented the awards at a ceremony held at St. Paul’s Church in Frankfurt as part of the Deutsches Wirtschaftsforum, i.e. German Business Forum. The intention of the initiators of the German Investors’ Award is to honour companies and encourage them to firmly establish responsible business practices in their core business areas and conduct themselves conscientiously in the long term vis-à-vis customers, business partners, shareholders - and ultimately the environment and society as a whole as well. In previous years, the winners of the award were Volkswagen and Krones (2013), Henkel nd KfW (2012) as well as BMW (2011).
Munich Re honoured for operational ecology and environment-oriented insurance business
Chief Financial Officer Jörg Schneider accepted the award on behalf of Munich Re. Among the 162 German companies that were assessed on the basis of special ESG criteria, his company dominated the quantitative analysis and succeeded in making a convincing impression on the jury. The insurance company has committed itself to the issue of climate change above all. Its management systems are suitably strong in the area of environment, social responsibility and good corporate governance. Munich Re also made a convincing impression with regard to “operational ecology”. The group of companies intends to be climate neutral by 2015. At present, already two thirds of the electricity for its office buildings all over the world is derived from regenerative sources. In addition, it earns CO2 certificates by means of climate protection projects.
MTU is this year’s rising star in the ESG ranking
Reiner Winkler, the CEO of MTU Aero Engines, accepted the award for his company as the ESG rising star of the year. Within a single year, the aircraft engine manufacturer MTU improved its ESG ranking by surging from 61st to 8th place thanks to a large number of measures and – according to the jury – it is one of the most responsible industrial companies in Germany. Developing aircraft power engines that consume less fuel, produce less exhaust fumes and cause less noise is at the top of MTU’s agenda. Its internal targets foresee 40 percent fuel and CO2 savings and a 65 percent reduction in noise emissions by the year 2050. Furthermore, the jury praised the company’s improved transparency, increased efficiency in dealing raw materials and energy, the anti-corruption policy that it has implemented as well as its high standards in the area of social aspects, which manifest themselves in a minimal employee fluctuation rate, high safety and health standards as well as a comprehensive quality management system.
Stringent selection procedure on ESG basis
The German Investors’ Award for Responsible Business Practices is based on a two-step process that is conducted under the scientific direction of Professor Alexander Bassen from the University of Hamburg. As the first step, 162 German companies were assessed using quantitative analysis based on key performance indicators for extra / non-financials (KPIs) from DVFA/EFFAS as well as Sustainalytics core data. In addition, the nominees had to fulfil the qualitative requirements of the ESG Panel, which checked the results of the quantitative analysis with reference to the ESG factors - environment, social and corporate governance - and made the final decision on conferral of the awards.
The members of the ESG Panel were Professor Alexander Bassen (University of Hamburg), Ralf Frank (Secretary General DVFA), Hendrik Garz (Managing Director Sustainalytics), Robert von Heusinger (Executive Officer of the M. DuMont Schauberg media group), Professor Christian Strenger (a member of the German Government Commission on Corporate Governance and a member of the supervisory board of Deutsche AWM), Henning Gebhardt (Head of Equities Deutsche AWM) and Michael Schneider (Head of Environmental, Social & Governance Deutsche AWM).
CIO of Deutsche Asset & Wealth Management