Sustainable Products and Innovations
Sustainability in the innovation process and product development
NORMA Group offers product solutions that help its clients to respond to megatrends such as scarcity of resources and climate change. The long-term economic success of NORMA Group also depends on whether NORMA Group keeps this promise. Should this not be the case, NORMA Group would face medium to long-term risks around sales development. CLIMATE-RELATED RISKS
The strategic orientation of NORMA Group’s innovation management therefore builds on these megatrends and focuses on emissions reduction and scarcity of water. Based on these long-term trends, NORMA Group’s FORESIGHT MANAGEMENT and business development derives potential market segments, for example in water management or the areas of battery cooling and exhaust treatment. NORMA Group measures its ability to innovate based on the invention applications reported by employees in a formalized process. In 2022, the number of invention disclosures was 21 (2021: 25). The number of invention disclosures is a significant non-financial control parameter.
Simultaneously, NORMA Group gives all employees the opportunity to actively contribute their own ideas. In relation to this an Innovation Platform was implemented in 2022, in which all employees with a PC access can participate. The Foresight manager facilitates and moderates the platform.
Furthermore, NORMA Group has integrated sustainability aspects into the product development process itself. Products are evaluated according to whether their materials are recyclable, whether the design is as light as possible (thus avoiding unnecessary emissions in the use phase, especially in the automotive sector) and whether they take environmental requirements, such as those relating to hazardous substances, into account.
Further information on innovation management can be found in the Chapter RESEARCH AND DEVELOPMENT.
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.