Porsche announces that it is the first automobile manufacturer to become a core member of the recently founded value balancing alliance e.V. based in Frankfurt.
The aim of this cross-industry alliance is to develop a standard that creates visibility in terms of the ecological, human, social and financial value contributed by companies as well as assessing the consequences for society and the ecosystem.
Oliver Blume, chairman of the executive board of Porsche said, “Porsche has always been committed to growth that creates value and is sustainable. Social responsibility is something we take on proactively. Sustainability is a key pillar of our corporate philosophy. Through the Ferry Porsche Foundation we promote social interaction. Together with the values alliance, we aim to provide decision-makers with a tool for creating and protecting sustainable values.”
The leadership had earlier announced that within three years, value balancing alliance e.V. intends to develop a model for assessing multidimensional value creation, test this model in practice and then further develop its publication and reporting obligations accordingly. The new methodology aims to develop standardised and therefore comparable indicators. This should make the actual value contributed by companies transparent to society.
Christian Heller, CEO of value balancing alliance e.V. said, “The goal of this holistic approach to corporate output is to make it possible to identify and understand positive and negative social impact.”
The values alliance is supported by the OECD as well as the auditing firms Deloitte, EY, KPMG and PwC, among others. The founding members of the non-profit organisation are BASF, Bosch, Deutsche Bank, LafargeHolcim, Novartis, Philip Morris International, SAP and SK.