Social affairs
The economy thrives through people – for people
FairMagnet is a voluntary initiative, co-founded by us, aimed at promoting environmental and social standards within the supply chain.
We firmly believe that treating people with respect – both internally and with our partners – is the foundation for sustainable economic success. That is why taking a holistic view of our value chain – including our environmental footprint – is a reality we put into practice every day.
Since 2019, we have been tracking greenhouse gas emissions at our site, continuously reducing our resource consumption and, in return, supporting certified climate protection projects. (Links to follow)
But we are going further: our aim is to gradually reduce emissions across our entire supply chain, whilst promoting fair working conditions and safety for all those involved. We want to lead by example and demonstrate that responsibility and competitiveness go hand in hand.
“Business administrators are also economists!”
As an environmentally conscious and socially responsible company, meeting the relevant standards at our site is a matter of course for us and forms part of our corporate philosophy in practice.
However, we also want to help shape the future, because we believe that what we invest in the environment and people today will bear fruit tomorrow. Our aim with FairMagnet is to promote compliance with environmental, economic and social standards throughout the entire supply chain. As China is currently the sole source of magnets, our focus is primarily on introducing sustainable production conditions at our local suppliers’ sites. This applies to both environmental protection and individual health and safety at work. Greater safety means fewer accidents at work.
The Chinese government is increasingly moving towards closing down the factories of known environmental offenders. By complying with the required standards, our suppliers are not affected by such measures.
The non-commercial Corporate Social Responsibility project (or CSR project for short) ‘FairMagnet’ is a voluntary industry alliance that works closely with academic institutions, government bodies and non-governmental organisations.
Certification takes place in several stages and is carried out by the Environment, Health and Safety Academy at the renowned Nanjing University. The Academy also has a mandate from the Chinese government to support manufacturers in improving environmental protection and workplace safety.
“We get what we order!”
As well as the benefits for workers and the environment already mentioned, a fair production process has further advantages. Through close cooperation with our suppliers, we know exactly what they are capable of delivering and what they are not. Our suppliers do not turn down even the smallest orders, and even in times of crisis, we are given priority.
“You get what you pay for!”
Quality comes at a price. We see it as our responsibility to invest in future generations by supporting measurable social and environmental standards throughout our supply chain. In return, you receive a high-quality product whose value stems not only from the quality of the materials, but also from the fair and responsible treatment of the people throughout our value chain. We are mindful of our responsibility towards the people behind our products and towards the environment affected by the manufacturing process.
Avoid the follow-on costs in production caused by material defects or customer complaints that result from buying cheaply. Help us by supporting good quality at a fair price!
“Three years ago, we had a purely business-based relationship with our Chinese suppliers. Now we are partners!”
Thomas Brugger, Managing Partner
