Environmental & Social Information • Apr 13, 2023
Environmental & Social Information
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what motivates you to ride a bike? The desire for movement and the mindful treatment of our environment are two good reasons that also move us.
In recent years, people have become increasingly aware of the bicycle as a climate-friendly means of mobility. The bicycle is now an indispensable part of mobility. More people than ever before are using bicycles every day to get to the office, school or university and are making the conscious decision to leave their cars behind more and more often. We can and want to make our contribution to this positive development.
How? By making it as easy as possible for them to decide in favor of sustainability: In 2002, BIKE24 was one of the first companies to launch an online bike shop to make the most environmentally friendly means of transport available to everyone.
Since then, we have been constantly expanding our range to inspire customers to adopt a lifestyle that is as good for us as it is for our planet.
To achieve this, we rely on the largest range of products on the net throughout Europe, exceptional service, experts in all areas of the company, reliable partners and a growing community. We incorporate our commitment to sustainability into all our decisions and activities.
But we also know that we can do more. That is why we have decided to review and document our sustainability commitment. In the first step, we want to record our existing measures and embed them in a holistic sustainability strategy. With committed goals, we want to drive ourselves to the next stage to make our sustainability contribution even more valuable from year to year. Join us on the road to a climate-friendly future.
| FOREWORD BY THE BOARD OF DIRECTORS | ||||||
|---|---|---|---|---|---|---|
| ABOUT BIKE24 | ||||||
| SUSTAINABILITY IS A COMPONENT OF OUR STRATEGY | 6 | |||||
| DEVELOPMENT OF OUR ESG STRATEGY | 8 | |||||
| OUR ENVIRONMENT | 10 | |||||
| 1. | REDUCTION OF RESOURCE CONSUMPTION | 11 | ||||
| 2. | CLIMATE PROTECTION THROUGH REDUCTION OF CO EMISSIONS 2 |
12 | ||||
| OUR SOCIAL COMMITMENT | 14 | |||||
| 1. | INCREASE EMPLOYEE SATISFACTION | 15 | ||||
| 2. | INCREASE EMPLOYER ATTRACTIVENESS | 16 | ||||
| 3. | SOCIAL ENGAGEMENT | 17 | ||||
| GOOD CORPORATE GOVERNANCE | 18 | |||||
| 1. | FURTHER DEVELOPING CORPORATE CULTURE | 19 | ||||
| 2. | PROFITABLE GROWTH AND FINANCIAL STABILITY | 20 | ||||
| 3. | INCREASING CUSTOMER SATISFACTION | 21 | ||||
| 4. | RISK AND COMPLIANCE MANAGEMENT | 23 | ||||
| OUTLOOK TO 2023 | 24 |
LOCALIZED WEBSHOPS AND EFFICIENT LOGISTICS NETWORK
With foundation of BIKE24 20 years ago, Andrés Martin-Birner, Falk Herrmann and Lars Witt turned their hobby – cycling – into their profession. Since then, the company from Dresden has grown strongly. Just like the product range, which also includes articles for related sports and outdoor activities, our customer base is growing continuously.
From a start-up in a small apartment, we have grown into a leading e-commerce company with over 500 employees. Still located in Dresden, we now have a stateof-the-art automated warehouse that enables us to deliver to our customers quickly and reliably. BIKE24 offers bicycle enthusiasts the widest and deepest assortment in the market with a clear focus on the premium segment. Whether parts, equipment, clothing, classic bike or e-bike – our clear and intuitive web store ensures that our customers can find everything they need for their hobby quickly and from a single source. We address cyclists and everyday cyclists in Germany, Austria and Spain, and more recently in France, Italy and Benelux, with country-specific online presences. Our international platform is also aimed at customers around the world.
Following the successful launch of our Spanish webshop and warehouse in Barcelona, international expansion continues to be at the heart of our growth strategy. For our path to Europe, we plan to be represented with localized webshops and a logistics network in all major regions of the continent in the coming years.
Sustainable action is an integral part of BIKE24's business model. After all, we support green mobility with every item – pedal, helmet or full-bike – that we sell.
Based on the conviction that we can make an even greater contribution to a more sustainable future, we at BIKE24 have decided to give the topic of sustainability a corresponding priority and strategic importance. In doing so, we also reflect the sustainable attitude of our employees and customers.
In order to bundle responsibility for our commitment internally and to give our corporate responsibility permanent priority, we filled the position of Head of ESG at the end of 2022.
Sustainability here means not only environmental and climate protection, but also good corporate governance and social commitment.
The purpose of this report is to provide information on our current sustainability activities and the focus points of our planned sustainability strategy, and to give an outlook on how we will proceed in 2023. The report is voluntary and has not yet been prepared with reference to a specific standard.
ESG = CLIMATE PROTECTION, SOCIAL COMMITMENT AND GOOD CORPORATE GOVERNANCE
In 2022, we began working with our stakeholders to develop an ESG strategy that reflects our company's values and priorities and systematically helps create long-term value for all stakeholders.
To this end, we have already taken the following steps:
The first step was to understand the key ESG risks and opportunities for the company. To do this, we analyzed BIKE24's industry and value chain, as well as the impact of our business activities on the environment, employees, customers and other stakeholders, and discussed these with the management team, the Management Board and representatives of the Supervisory Board.
In our analysis, we applied the principle of double materiality. This means that the discussion of the ESG topics not only included the fact to what extent these could have a significant impact on the development of BIKE24's business performance, but also to what extent BIKE24 causes a significant impact on the external environment through its own activities.
In a second step, we involved the key stakeholders for BIKE24 in the assessment. In particular, these were our customers, employees, suppliers, investors and other stakeholders from the areas of logistics, banks and associations. We were very pleased that over 300 of our stakeholders responded to this survey. This has greatly helped us understand their expectations and concerns about our ESG performance, as well as identify new ESG risks and opportunities. This enables us to ensure that our ESG strategy is in line with our stakeholders' expectations.
In 2023, we will continue to develop the ESG strategy on the basis of the findings and measures to date. We will set specific goals and targets for the key ESG topics, which we link to corresponding measures. A comprehensive ESG process also includes continuous monitoring and improvement of all activities. We look forward to reporting to you on our progress in the coming years.
At the same time, we conducted an inventory of all existing ESG measures. It shows that we have already taken measures for sustainable action in many areas.
We attach great importance to using all resources carefully and responsibly. To ship our products safely, we need professional and resilient packaging. In 2022, we circulated a total of 468 tons of packaging material made of paper, cardboard and carton (PPK) and 22 tons made of plastics in Germany. Of this, secondary packaging, i. e. our own outer packaging, accounted for 357 tons of PPK and 12 tons of plastics. The outer packaging used by manufacturers (primary packaging) comprised 111 tons of PPK and 10 tons of plastics.
| 2021 | 2022 | Changes in | |
|---|---|---|---|
| Sales in EUR k | 250,164 | 261,522 | 4.5% |
While sales increased by 4.5% compared to the previous year, the increase in packaging consumption was limited to 2.3% (PPK) or could be kept at a constant level (plastic).
| 2021 | 2022 | Changes in | |
|---|---|---|---|
| Packaging consumption | |||
| (secondary packaging) | |||
| in tons | |||
| Cardboard, paper, carton (PPK) | 349 | 357 | 2.3% |
| Plastic | 12 | 12 | 0.0% |
For us, using resources responsibly does not just mean reducing packaging. We also rely on recycled raw materials. For example, our cardboard boxes and plastic packaging are already largely made from 100% recycled material.
We work consistently to continuously reduce packaging consumption, for example by optimally cutting secondary packaging, and to use the necessary packaging made from sustainable materials. To this end, we not only constantly review our processes, we have also joined forces with 90 other companies from the bicycle industry to form the Cycling Industry Sustainable Packaging Pledge in 2022. The aim of this network is, among other things, to use size-optimized, recyclable and reusable packaging and to further reduce the use of plastics.
But we also pay attention to our consumption of resources in other areas.
In our central warehouse in Dresden, for example, we have completely converted the lighting to LED.
Since 2022, we have largely used "green power" in our buildings, stores and warehouses.
| 2019 321 employees |
2020 315 employees |
2021 466 employees |
2022 551 employees |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Emission* Share Emission [t CO2 e] |
% | per MA [t CO2 e] |
[t CO2 e] |
% | per MA [t CO2 e] |
Emission Share Emission Emission Share Emission Emission* Share Emission [t CO2 e] |
% | per MA [t CO2 e] |
[t CO2 e] |
% | per MA [t CO2 e] |
|
| Scope 1 | 9.7 | 1.7 | 6.0 | 0.1 | 0.02 | 13.0 | 0.2 | 0.03 | 40.0 | 0.8 | 0.07 | |
| Fleet fuelled vehicles (diesel) |
9.7 | 1.7 | 6.5 | 0.1 | 13.0 | 0.2 | 27.1 | |||||
| Locations Heating and Cooling Systems |
n/a | n/a | n/a | 12.5 | ||||||||
| Scope 2 | 563.5 | 96.2 | 515.0 | 10.8 | 1.63 | 561.0 | 10.4 | 1.20 | 320.0 | 6.1 | 0.58 | |
| Vehicle fleet Electric vehicles |
n/a | n/a | n/a | 0.2 | ||||||||
| Power supply | 231.7 | 39.5 | 193.8 | 4.1 | 283.0 | 5.0 | 15.8 | |||||
| District heating | 331.8 | 56.6 | 321.4 | 6.7 | 389.0 | 5.0 | 304.4 | |||||
| Scope 3 | 12.8 | 2.2 | 4,260.0 | 89.1 | 13.52 | 4,810.0 | 89.3 10.32 | 4,885.0 | 93.1 | 8.87 | ||
| Business Travel Business trip Rental car |
1.5 | 0.3 | 0.6 | 0.0 | 10.0 | 0.2 | 3.3 | 0.1 | ||||
| Business trip private car | 0.5 | 0.1 | 0.2 | 0.0 | 2.8 | 0.1 | ||||||
| Business trip Taxi | 0.2 | 0.0 | 0.0 | 0.0 | 0.1 | |||||||
| Business trip Flight (< 500 km) | 1.0 | 0.2 | 0.9 | 0.0 | 8.1 | |||||||
| Business trip Flight (< 3,700 km) | 9.2 | 1.6 | 0.7 | 0.0 | 36.3 | |||||||
| Business trip Flight (> 3,700 km) | 0.0 | 0.0 | 0.0 | 0.0 | 10.0 | |||||||
| Business trip Train | 0.4 | 0.1 | 0.2 | 0.0 | 2.6 | |||||||
| Business trip Hotel | n/a | n/a | n/a | 8.6 | ||||||||
| Journey of the employees | n/a | n/a | n/a | 3.4 | ||||||||
| Carrier Downstream Transport. (TtW) |
n/a | 3,438.1 | 71.9 | 3,994.0 | 71.4 | 3,587.6 | ||||||
| Substitution TtW | – 170.0 | – 3.1 | – 68.9 | |||||||||
| Downstream Transport. (WtT) | n/a | 819.2 | 17.1 | 950.0 | 17.0 | 848.7 | ||||||
| Substitution WtT | –42.0 | –0.7 | – 16.2 | |||||||||
| Waste | n/a | n/a | 68.0 | 1.2 | 109.0 | |||||||
| Purchased goods & services (packaging) | n/a | n/a | n/a | 349.2 | ||||||||
| Impact of non-quantifiable emissions | 5% | 2% | 5% | 5% | ||||||||
| Total year | 586.0 | 100.0 | 0.0 | 4,781.0 | 100.0 | 15.18 | 5,384.0 | 100.0 | 11.55 | 5,245.0 | 100.0 | 9.52 |
Since 2020, we have been working with DEKRA to determine annual carbon footprint in accordance with the Greenhouse Gas Protocol and compensate for the calculated CO2 emissions. The Greenhouse Gas Protocol defines three scopes along which greenhouse gas emissions can be categorized. "Scope 1" emissions are direct greenhouse gas emissions resulting from the combustion of fuels such as gas or oil or from processes such as the production of chemical products. "Scope 2" emissions refer to the indirect emissions associated with the generated energy that is purchased by a company. "Scope 3" emissions are the indirect greenhouse gas emissions that occur when a company purchases products from other suppliers and/or uses services. This means that they can arise from a variety of processes, supply chains, and business relationships that are more difficult to measure and quantify than the direct emissions that come from internal processes.
* The greenhouse gas balance report includes greenhouse gases that are part of the Kyoto Protocol. These gases are translated in CO2 equivalent (CO2 e).
DEKRA Assurance Services GmbH – Handwerkstraße 15 – 70565 Stuttgart – Germany
We are actively working with our suppliers and logistics service providers and are expanding our sustainability-related product data in order to increase the scope and level of detail for the calculation of our Scope 3 emissions every year. For example, since 2020 we have been taking into account the CO2 emissions caused by the transport of our goods. For 2021, the calculation has been expanded to include the greenhouse gas effect from our waste disposal, and for 2022 we will include the CO2 effect from the packaging we put into circulation.
Our goal is to determine and present CO2 emissions along the value chain as comprehensively as possible in order to be able to implement further measures for reducing CO2 emissions.
These include the use of logistics companies that have a more modern fleet and therefore cause fewer emissions, or continuous package and route optimization. This also includes expecting manufacturers to reduce CO2 emissions, as we have already codified in our Business Partner Code of Conduct. But also the reduction of travel distances for our employees through attractive home office solutions.
We will continue to offset unavoidable CO2 emissions with professionally managed projects. For 2022, we have supported a solar energy project in India and a hydropower project in Uganda. Both projects are certified with the internationally recognized Verified Carbon Standard.
| Year | Climate protection project | Country | Share in t |
|---|---|---|---|
| 2019 | Clean Wind Energy | India | 293.05 |
| Energy efficient cooking stoves | Ghana | 293.05 | |
| 2020 | Forest Conservation | Peru | 2,327 |
| Wind Energy | India | 2,326 | |
| 2021 | Household biogas | China | 1,126 |
| Solarenergie | India | 1,352 | |
| Wind Energy | Brazil | 1,453 | |
| Forest Conservation | Colombia | 1,453 | |
| 2022* | Hydropower | Uganda | 1,350 |
| Solar Energy | India | 1,350 | |
* As soon as our carbon footprint for 2022 has been confirmed by DEKRA, we will offset the remaining CO2 emissions for 2022 that have not yet been compensated.
14 BIKE24 | Sustainability Report 2022
I FEEL COMFORTABLE IN MY TEAM. 61.86% 31.53% 5.41% 1.20%
2022
Without our motivated and committed employees, we would not be able to achieve our goal of becoming the central point of contact for online bike shopping in Germany and the booming European cycling nations.
It is therefore very important for us to get our employees' picture of "their" BIKE24. We regularly ask our employees for feedback on their overall impression of BIKE24 as an employer, our social and ecological contribution, our culture or even the equipment at the workplace or the quality of cooperation in the team.
In view of the dynamic growth and development of the environment, we consider the results of our last survey to be a success overall. In 2022, 75% of employees confirmed that they can fully or rather recommend BIKE24 as an employer and over 90% feel completely or rather comfortable in their teams. This is also due to the fact that around 90% of employees fully or rather agree that they are treated appreciatively by their superiors.
Furthermore, over 60% of employees fully or rather agree that BIKE24 makes an important contribution to social responsibility and fulfills its ecological responsibility. We see this as proof of our commitment, but also as motivation and obligation for further activities in the area of sustainability.
We have also made progress in terms of work-life balance. Almost 90% of our employees confirm that they are able to achieve a good work-life balance.
The results of the employee survey make it clear that we have already achieved a high level of employee satisfaction. Nevertheless, it is our ambition to increase this further.
In 2022, for example, we have launched numerous training measures for our employees. The aim is to prepare all employees for the professional and personal challenges posed by the upcoming growth of the company and the ongoing changes.
In addition, we introduced a new feedback tool at the beginning of 2023 to specifically create a space for open and constructive feedback between co-workers and supervisors.
We will report regularly on the success of these and other measures in the future.
BIKE24 | Sustainability Report 2022 15
A high level of employer attractiveness is important in order to be successful in the competition for talented employees and to build up or retain a motivated and committed workforce.
Employer attractiveness refers to the totality of features that make a company an attractive employer, such as working conditions, salary, career development opportunities, work-life balance, corporate culture, benefits and the company's image.
We are proud of our rapidly growing, dedicated and diverse team. In 2022, we hired over 80 new employees and now employ 551 full- and part-time employees. The average age of our workforce is 37. 24% of our employees are younger than 30, 68% are between 30 and 50 years old, and 8% are older than 50. The proportion of women is 36% across the entire workforce and 33% in management positions. We employ people from 14 nations. 17 of our employees have a severe disability. This corresponds to a rate of 3%.
| Age structure | December 2022 |
|---|---|
| Quantity | 551 |
| Ü50 years | 46 |
| 30– 50 years | 374 |
| U30 years | 131 |
| Share in % | |
| Ü50 years | 8.3 |
| 30– 50 years | 67.9 |
| U30 years | 23.8 |
I WOULD RECOMMEND BIKE24
3. SOCIAL ENGAGEMENT We offer attractive working conditions for our dynamic team. For us, home office and remote work are a matter of course. To ensure that these can also be implemented and practiced accordingly, we have not only created the organizational prerequisites, but also the necessary infrastructure with the technical equipment for our employees and shared desk concepts at our locations.
As part of our Workation offer, we provide our employees with the opportunity to work from a location of their choice for up to 180 days after reviewing the country-specific conditions. New Work is therefore not just wishful thinking for us, but is already lived out on a daily basis.
Finally, we offer a range of interesting incentives that make us a sought-after employer. These include promoting the use of bicycles among our workforce through attractive conditions relating to our product range and sustainable mobility, e. g. through bike leasing, comprehensive training opportunities, organized team events, rewards for recruited employees, and discounted gym use.
We know that we can only compete for the best employees as an attractive employer. We will continue to drive this issue forward with high priority and report regularly on our progress.
We see ourselves as a responsible employer in our environment. That's why we primarily support clubs and young athletes at and around our site in Dresden as a sponsor or with donations. And we don't just have cycling in mind. Whether Dirt and Dust e.V. or Triathlonverein Dresden e.V. – we support many local clubs with our yellow and blue logo. In the past, we have also made donations to various social institutions and projects, such as the Neven Subotic Foundation or the Association for the Promotion of Physically Disabled and Chronically Ill Children and Young People (Rollimaus). This sense of responsibility towards our immediate environment is greatly appreciated by our employees.
I completely agree I rather agree I rather not agree I do not agree at all
BIKE24 | Sustainability Report 2022 17
I FEEL AT BIKE24 ENCOURAGED TO TRY THINGS OUT AND BE OPEN TO NEW TASKS.
AS AN EMPLOYEE AT BIKE24, I AM LISTENED TO AND ALLOWED TO GIVE FEEDBACK.
Our corporate culture is characterized by entrepreneurial and responsible action. We act as a team of experts for the bicycle: Genuine, ambitious and committed.
Our actions are genuine. We are passionate athletes, outdoor enthusiasts and everyday cyclists. We love being outdoors. Our inspiration is the time we spend on the road, trails or in the water. We facilitate positive, authentic experiences. It's an enriching feeling to support others and motivate them to do sports.
We are ambitious. We always want more and work very focused. We want to deliver a good performance and be successful. For us, challenges are an opportunity to develop further and come up with new solutions. We are always looking for the way forward. We want to improve every day.
We act with commitment. Our goal is to provide the best possible support to all the athletes, outdoor enthusiasts and everyday cyclists who put their trust in us. We are never too shy to roll up our sleeves to do our job to the best of our ability and exceed our customers' expectations. We rely on each other at work – and also afterwards when playing sports together.
In our latest employee survey, over 70% confirm that they feel completely or rather encouraged to try things out and are also allowed to make mistakes. And almost 80% of participants completely or rather agree that they feel "heard" at BIKE24 and can give feedback.
But we are also aware that with old and new employees, long-standing values and visions meet agile projects and innovations and corporate responsibility meets sustainable action. We will put our corporate culture on paper – in order to record what makes us as a BIKE24 team and to continue to apply it as a common compass of values in times of corporate change.
We are very well positioned with our business in the highly attractive and sustainably growing bicycle market. We are benefiting from the trend towards green mobility and the ongoing shift from offline to online channels. With our continuous expansion of the product range and our national and international expansion strategy, we are clearly focused on growth.
Successful implementation of this strategy requires targeted investments in employees, management, new customer acquisition, infrastructure and technology. As expected, these investments will have a temporary negative impact on earnings. They are necessary in order to rapidly roll out the fundamentally very profitable business model. The development of our key value and growth drivers confirms our strategy. In 2022, for example, we again had a very successful acquisition of new customers, with 21% more new customers, i.e. customers who ordered from Bike24 for the first time. And 70.5% of all orders in 2022 were placed by repeat customers. The online stores in France, Italy and Spain increased their sales by EUR 17.6 million in the same period, and the full-bikes business grew by 38% (EUR 9.3 million). At the beginning of 2023, our online stores in the Netherlands, Belgium and Luxembourg were also successfully launched. We see this as proof that we are on the right track!
| Sales Ber. EBITDA margin Active customers Average order value after returns |
Fiscal year 2022 |
|---|---|
| +4.5% | |
| EUR 261.5 m. | |
| –8.5 pp | |
| –3.7% | |
| +16.2% | |
| 954,055 | |
| +1.6% | |
| EUR 143 | |
| Number of orders | +3.0% |
| 1,820,563 | |
| Orders from recurring customers | –4.4 pp |
| 70.5% | |
| Average number of orders from active customers | –11.37% |
| 1.91 | |
| New customers | +21.00% |
| 536,937 |
A satisfied and repeat customer base is the basis for our success. In assessing customer satisfaction, we use various tools to understand as precisely as possible where we still have potential for improvement in our customer service.
In the ratings on Trustpilot, we regularly have high values in the range of 4.5 – 5 stars throughout the year, with 5 stars being the maximum possible value. Around 87% of all ratings are either 4 or 5 stars. Even though this value is comparatively high, Trustpilot provides us with interesting and important tips for optimizing our customer service. These are particularly in the area of shipping processing and the reliability of our logistics partners. We are continuously working on improvements here with good success. Our store experience is rated as particularly good. Here we regularly receive above-average ratings. This confirms that the constant and high commitment to optimizing our website is worthwhile.
As a supplement to Trustpilot, we regularly collect the Net Promoter Score (NPS) since the beginning of 2023, which refers to the rating of a specific transaction or process. Here, we actively ask customers for feedback regarding their satisfaction and willingness to recommend us after a service experience. Since the beginning of our surveys, the NPS has been around 66, which is a comparatively very high value. Values above 50 are already considered excellent and evidence of a very high level of customer focus.
In the context of Net Promoter Score (NPS), promoters, passives, and detractors refer to three different categories of customers based on their responses to the NPS question:
Promoter: Customers who respond with a score of 9 or 10 on a scale of 0 – 10 are called promoters. They are very satisfied with the product or service and are likely to recommend it to others. Passive: Customers who respond with a score of 7 or 8 are called Passives. They are reasonably satisfied with the product or service, but are unlikely to recommend it to others. Rejecting customers: Customers who respond with a score of 0 – 6 are called detractors. They are not satisfied with the product or service and may even discourage others from using it. To calculate the Net Promoter Score, subtract the percentage of detractors from the percentage of supporters. The resulting score ranges from – 100 (if everyone is a critic) to +100 (if everyone is a supporter). A value of 0 means that there are equal numbers of supporters and critics.
The positive feedback from our customers is also reflected in their purchasing behavior. For example, we were able to expand our active customer base, i. e. customers who have ordered at least once in the last 12 months, by 16.2% to 954,055 in 2022. And we receive over 70% of our orders from repurchasing customers. That is a comparatively very high figure in the e-commerce industry. We are therefore not only able to satisfy our customers, but also to inspire them. We will continue to work to ensure that this remains the case.
| Business year 2021 |
Business year 2022 |
Delta | |
|---|---|---|---|
| Total orders | 1,767,283 | 1,820,563 | 3.0% |
| Recurring buyer rate | 74.8% | 70.5% | –4.4% pp |
| Active customers | 820,835 | 954,055 | 16.2% |
| New customers, thereof: | 444,882 | 536,937 | 21% |
| – Spain | 16,946 | 39,768 | 135% |
| – France | 7,923 | 52,339 | 561% |
| – Italy | 5,117 | 28,630 | 460% |
In our view, good corporate governance includes an effective risk management system and clear compliance management.
In 2021 we therefore introduced a groupwide risk management system. Its aim is to identify, assess and actively manage the business risks associated with our operations in good time. The Management Board and Supervisory Board regularly discuss these risks, possible measures and potential changes to the risk landscape at their meetings. In the future, risks arising from the area of sustainability will also be integrated into risk management.
We are fully committed to comprehensive legal compliance and to observing national and international conventions. In our Code of Conduct published on our website, we have documented the key rules and principles of our corporate compliance for our employees. Among other things, we are clearly committed to respecting human rights, non-discrimination, environmental protection, product safety, data protection, the prohibition of corruption and bribery, and fair competition. We take violations of our Code of Conduct very seriously and pursue or sanction them consistently. All employees have the opportunity to report possible violations anonymously via our whistleblower system. Regular training courses and advisory services are designed to ensure that our employees are adequately informed and sensitized. Any violations of our Code of Conduct identified are reported to the Management Board and the Supervisory Board.
We have also documented a Business Partner Code of Conduct for our business partners. In it, we state that legal compliance, integrity and sustainability are deeply rooted in our corporate culture and that we expect our business partners to comply with the principles established. In addition to compliance with generally applicable laws, these include requirements for respecting human rights, ensuring fair and safe working conditions, complying with environmental protection laws, product conformity and safety, and due diligence obligations regarding supply chains and materials from conflict and risk areas. Possible violations of these rules can also be reported anonymously via our whistleblower system. We also follow up on actual violations very seriously.
Both risk management and compliance management are the responsibility of a divisional head who reports directly to the Management Board.
The year 2023 is an important milestone for our sustainability activities.
We will formulate our comprehensive ESG strategy and define concrete targets and measures for the identified focus areas. In doing so, we want to be genuine, ambitious and committed.
Starting from the 2023 reporting year, our sustainability efforts will also be subject to regulatory requirements, which we will be taken into account accordingly.
24 BIKE24 | Sustainability Report 2022
Bike24 Holding AG, Breitscheidstrasse 40, 01237 Dresden, Germany
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