Governance
Aligned with our for Generations to Come vision, we have enhanced our internal controls with new guidelines and policies, including the TIP Group Environmental Policy, which aligns with the Paris climate objectives. These policies encompass areas such as waste management, labor rights, and human rights. Additionally, we have also solidified our cybersecurity measures with a data loss prevention program. Our policies serve as the foundation for responsible decision-making, with ESG considerations integrated into our formal risk management approach.
Supply Chain Sustainability
In 2023, we developed a comprehensive approach towards supply chain ESG due diligence to promote sustainability throughout our value chain. We strengthened our Supplier Code of Conduct, which outlines the minimum environmental, social, and governance standards expected from our suppliers. Additionally, we implemented a Sustainable Procurement Framework to systematically identify, prevent, and mitigate potential negative impacts across our supply chain.
Furthermore, we have established a partnership with Prewave, a leading supply chain monitoring solution. This collaboration allows us to stay informed about potential ESG infringements within our supplier network, ensuring timely intervention and mitigation of risks. By fostering transparency and accountability throughout our supply chain, we reinforce our commitment to responsible and ethical business practices.
Critical Collaborations
To execute our strategy effectively, we rely on the support and commitment of our regional teams. At TIP Group, our Governance Program reflects our unwavering dedication to driving positive environmental and social impact across our operations. Collaborating with multiple partners, we are enhancing our energy monitoring capabilities and promoting trailer refurbishment efforts, such as with DSV.
As active members of international organizations like the European Transport Board (ETB) and signatories of the UN Global Compact, we are deeply committed to advancing sustainability and supporting the UN Sustainable Development Goals (SDGs). At TIP Group, our Management Program reflects our unwavering dedication to driving positive environmental and social impact across our operations.
The ETB, comprising top European transport and logistics firms, oversees 300,000 trailers, aiming to reduce road freight's environmental impact and enhance industry efficiency. TIP Group actively engages with the ETB to address key industry concerns, including carbon accounting, sustainable finance, and regulatory compliance. Our CEO, deputy CEO, COO, CLO, VP of Sales & Marketing, and Global Marketing & Communications Director are all ETB members, facilitating collaborative efforts and data sharing within the industry. Find out more here.
TIP Group's commitment to sustainability is reflected in our ESG ratings from independent agencies. EcoVadis awarded us a Silver rating for the second year in a row, positioning us among the top 20% of companies globally assessed. The Silver Rating based on 62 points was assessed in the renting and leasing of motor vehicles sector. It highlights the fact that TIP Group is a crucial partner for customers as well as suppliers on their pathway to more sustainable supply chains. Additionally, Sustainalytics awarded us with a ‘negligible’ ESG risk rating, placing us as the leader in the transport industry and the trucking sub-industry – and 47th out of more than 15,000 companies assessed globally. It also rated our ESG risk exposure as ‘low’ and our ESG risk management as ‘strong’.