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Transcript of Siemens
Corporate Social Responsibility and Sustainability
Founded in 1847 by Werner von Siemens
World War 2
Post War Years
Siemens is one of the worlds most sustainable companies
Recently signed the largest wind project ever undertaken by the Federal Government
Provide innovative docking solutions to Germany's busiest port.
By implementing CSR Siemens is able to focus on various issues.
CSR efforts include:
St. Catherine’s Home, Mumbai
Price Fixing Fine of 2007
Corporate Corruption in Greece
Siemens’ environmental portfolio generated € 33.3 billion in 2012.
The green technology market is valued at € 2 Trillion and Is expected to reach € 4.4 Trillion by 2025.
Siemens recently received 3 awards regarding their sustainability efforts.
Corporate Social Responsibility (CSR)
Siemens believes CSR will lead to long-term growth for the company
Siemens' philosophy is not to simply hand over a check, but to support causes through participation.
This is achieved through their "Caring Hands" Program.
Regaining trust of investors
Top provider of energy worldwide
Offshore wind energy
Cut out spending
Focus on long term business ventures for acquisition
Re-enter nuclear energy industry
Make an effort to bring more consumer products to US market
Communications and infrastructure.
Ardnacrusha Hydro Power Station
Nazi's Rise to power
Move to Bavaria
Human Right Abuses and Complicity
Involved in a cartel between 1988 and 2004
11 companies involvement
Fined €396 million by European Commission
Chains of Bribery Scandal
Institutionalized bribery and corruption business model
Violated “The 11th Commandment: ‘Don’t get caught.” Mr. Siekaczek
Settled a record $1.6 billion in fines, largest in modern corporate history
Criticized by NGOs for providing power lines to Congo, but in essence, to run their own coltan mining operations
Exploitation of cheap labor in developing countries to work in their factories
Bribed Greece political leaders for about 10 years to be the sole provider of mechanical and electrical equipment in the country
Exposure of the corruption in 2008 led to Siemens officials being arrested in Greece