3 DSV Panalpina Responsibility Report 2019 Letter from the CEO TAKING RESPONSIBILITY IS PART OF WHAT MAKES US STRONG Another important aspect of our increased efforts is our new CO2 reporting system, which will contribute to a new level of transparency. The system will improve our ability to calculate and minimise the carbon footprint of our customers’ shipments across multi-geographical and multi-modal supply chains. DSV Panalpina provides global transport and logistics services, and we see it as a fundamental part of our value proposition to be a responsible business partner and to seeksustainable solutions. For us at DSV Panalpina, 2019 will be remembered as the year where two great companies joined forces. We are still in the process of combining the two organisations, but we believe that the new DSV Panalpina will be an even stronger company. This also applies to our corporate responsibility strategy. Even though we had to put several activities on hold in 2019 to focus on the integration, we also strengthened our existing corporate responsibility setup to better support our activities going forward. In 2020 we are going to present a new strategy and new targets, and it will require focus from the whole organisation to realise our aspirations in this area. Since we joined the UN Global Compact 10 years ago and began reporting annually on our activities, we have improved our efforts and our transparency – but we can do more. As the latest UN report on climate change showed, there is a need for more substantial changes to prevent irreparable damage to the environment. We are therefore going to develop a strategy in 2020 that will set new and more ambitious targets for corporate responsibility. SCIENCE-BASED TARGETS Our new commitment to the Science Based Targets initiative will be central to our future sustainability efforts. As part of this initiative, we are setting targets for greenhouse gas reductions, which will serve as a guide for our whole sustainability value chain. Once the targets have been approved, most likely in the first half of 2020, it will be the responsibility of everyone at DSV Panalpina to contribute to achieving them. We believe that the targets will inspire us to improve our existing ways of working and find new ones to the benefit of both our customers and ourselves. A key element will be to reduce emissions from subcontracted transport services and thereby help drive down total CO2 emissions. We see this as both an environmental and a commercial success in the making. A STRONGER CODE OF CONDUCT An important milestone in 2019 for us was our comprehensive update to the DSV Panalpina Code of Conduct. Our Code of Conduct guides us to act in a responsible and ethical manner, and in 2019, we updated some of its key topics. Our ethical standards have not changed since our last major update, but as the world changes, so must our way of addressing the topics that are important to us and our stakeholders. We have, for example, introduced a new topic outlining our firm position against money laundering and modern slavery. We also updated our whistle-blower reporting system to provide our employees and business partners with simpler ways of anonymously reporting alleged violations of law or of our Code of Conduct. VALUABLE PARTNERSHIPS ‘Achieving more together’ is the tagline for the integration of DSV and Panalpina, so it is a phrase I have used a lot during the past few months. I believe that we have a greater chance of success when we bring capabilities together. That is also why we are adding new partnerships to the one we have with the Red Cross I Red Crescent movement anchored through Danish Red Cross. One of our new partnerships investigates both how wind energy can be used to produce renewable hydrogen for certain heavy-duty vehicles, and how we can take steps to develop sustainable fuel production and infrastructure in Denmark. In another new partnership, I will represent DSV Panalpina in working with the Danish government to find greener solutions for land transportation – and drive them forward. We take our responsibility seriously, and we believe that our wider ambitions and new initiatives will take us a step in the direction of a more sustainable transport and logistics industry. JENS BJØRN ANDERSEN CEO
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