Grundfos was founded in 1944, but it was in 1945 that our founder, Poul Due Jensen, received an order from a neighbouring farmer who wanted a small, automated system to solve his problems in accessing clean water. Poul Due Jensens then provided our first pump ever made, Foss 1. From producing 500 pumps in 1947 to 50,000 in 1959, Grundfos has since become one of the world's leading providers of pump solutions with annual production standing at more than 17 million units.
Grundfos values define who we are and what we stand for as a company. They guide our actions and serve as our cultural cornerstones wherever we are in the world.
Grundfos Code of Conduct sets the direction for the company, and sets out guidelines for employees. It applies to all Grundfos companies and employees, in all countries and all positions. It further articulates our values and sets out behavioural guidelines for good business ethics.
Our success as a business relies on thousands of independent relationships with customers, employees, and communities, as well as other organisations, like non-governmental organisations (NGOs), regulators and government bodies.
When identifying stakeholders and the most appropriate way to engage with them, we look at the following criteria:
- Shared values;
- Similar impact goals and mutual benefits;
- Network and advocacy opportunities;
- Complementary skills and expertise;
- Opportunities for collective action,sharing and learning best practices;
- Awareness of material topics.
More in the Sustainability Report 2018, page 11-12.
Assessing priority topics
In 2017, we finalised our materiality assessment to identify ‘future proof’ priority topics. The assessment was tied to our SDG assessment coupling quantitative and quantitative elements.
The qualitative assessment focused on mega-trends, corporate objectives, values and the Sustainable Development Goals (SDGs). For the quantitative assessment, we conducted the SDGs survey of key stakeholders.
More in the Sustainability Report 2018, page 8-10.
Towards the SDGs
We acknowledge and accept that the old, linear ways of thinking about business activity and the economy are obsolete and we need to have the courage to try out new ways of doing business — ways that are inclusive and environmentally sustainable, with as tiny a carbon footprint as possible.
More on our journey towards the SDGs.