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Building strong, sustainable relationships with stakeholders
The success of our Group is intricately linked to the strength and quality of the relationships woven with our partners, customers and investors. To maximize this long-term potential, we’ve developed a comprehensive strategy to support, inform and engage with our stakeholders:
- Partners: embedding leadership based on values and ethics
- Business ethics: establishing a compliant framework and fair business practices
- Stakeholders: maintaining sustainable stakeholder relationships
- Nexans Foundation: helping disadvantaged communities access energy
What it means
The Group’s general internal control and audit program covers the policies and systems relating to compliance oversight. As such, the Group’s internal audit team reviews the implementation and completion of the annual action plan under the Ethics Compliance Program every year during on-site audits.
OTIF: On Time In Full first confirmed: Nb of order lines shipped in the right quantity at first confirmed date / Total number of shipped order lines in the month including logistic and plant data.
In 2013, Nexans became the first cable player to create a Foundation to act and serve in the general interest of society. The Nexans Foundation aims to support initiatives that help bring electrical power to disadvantaged communities throughout the world by giving priority to grassroots-level organizations and sustainable solutions.
Since 2002, Nexans has offered employees the opportunity to buy stock in the Company every two years.
This employee share ownership plan reflects not only the Group’s policy of incentivizing employees but also rewarding them for contributing to its growth every day.
Creating dialogue with our stakeholders
Our commitment to establishing frequent, high-quality dialogue with all our stakeholders is underpinned by a rigorous, proactive ethical and CSR approach. Since 2012, we have focused on understanding and taking stakeholder expectations into account, for example, by developing a materiality matrix to help define our CSR priorities. Furthermore, to drive our long-term strategy, Nexans 2030, we set up a panel of stakeholders including customers and companies.
Keen to improve employee engagement, we have launched a number of initiatives including Group-wide programs, such as Safety Day , and regional events, e.g. i-Day in Europe in 2017.
As one of our key CSR ambitions, customer satisfaction is measured through OTIF-1C(1) delivery performance and regular satisfaction surveys.
Our Purchasing Policy creates a framework for working with high-performing, reliable suppliers that achieve shared business objectives, while respecting all relevant export, environmental and compliance requirements.
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We also maintain regular dialogue with the financial community, particularly through special events (such as Investor Day in December 2017 ), the CSR roadmap and scores from non-financial rating agencies.
Measuring our CSR performance
Working closely with the non-financial rating agencies who monitor our CSR performance, we have built on our past performance and in 2019:
- Oekom research: maintain B- rating (B is the best industry rating), allowing the Group to keep its “Prime” status
- CDP (Carbon Disclosure Project): A- rating (versus A in 2018)
- EcoVadis: Advanced rating of 74%, (versus 72% in 2018), earning the Group the EcoVadis Gold level CSR recognition medal. Nexans now ranks among the top 1% of companies assessed by EcoVadis
- Sustainalytics: Rating of 73% (versus 71% in 2018), ranking the Group 9th out of 43 in its industry.
- MSCI: BBB rating (versus BB in 2018), ranking the Group among the 4th best marks in its industry.