SustainabilityReport 2023 high - Flipbook - Page 5
1.2. Sustainability – A continuous mindset
As always, a lot of things happen in the Terratech Group
during a year, so also in 2023. After a relatively long period
of challenging delivery chains during the pandemics and
the 昀椀rst year of the Russian war on Ukraine, things started
to improve. However, after a very hectic 昀椀rst half year the
business climate turned signi昀椀cantly colder during third
and the fourth quarter.
Within Terratech the organization remained stable which
allowed us to focus on operational development and
consolidation of internal processes. Throughout the
year, we have continued to work towards our ESG goals,
focusing on achieving net-zero emissions, eliminating
workplace accidents, and promoting responsible business
practices.
The ongoing work with the global Open-S standard,
which we co-founded, continues to be a cornerstone of
our strategy. This standard promotes interoperability
among manufacturers, allowing for greater versatility and
e昀케ciency in excavator operations. The growing adoption
of Open-S is a testament to its value in operational
e昀케ciency and reducing resource consumption, bene昀椀ting
both our customers and the environment.
During 2024 we will work with the necessary adaptations
to our sustainability framework needed to be fully
CSRD compliant. We look forward to building on our
achievements in the coming year, with a continued focus
on innovation and customer satisfaction.
I believe that excavators are becoming indespensable
machines both when preemptive measures needs to
be taken against future climate impact as well as when
cleaning up after various environmental disasters. In this
situation we are in the very fortunate position that our
best contribution to a more sustanable world is actually to
sell more of our products to customers needing improved
fuel e昀케ciency, enhanced machine performance, enhanced
work site safety, reduced transport needs and increased
excavator versatility.
Having said that we obviously need to minimize our
own environmental impact, however no matter what we
do, it has a limited impact compared to the e昀케ciency
improvement we can give excavators around the world.
Stefan Stockhaus,
CEO Terratech Group AB,
May 2024
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