Strategy: the Comet way
For 75 years, we have been developing and producing innovative high-tech components and systems based on x-ray and radio frequency technology. Consistent alignment with global trends and developments was and is the basis of our success.
For Comet, sustainability is one of the central pillars of the high-performing organization we strive for, alongside technological leadership. Consistent with this, our company has long been actively committed to the concerns of the socially disadvantaged, to supporting and delivering the training of young people, to promoting diversity, and generally to reducing energy consumption and using sustainable energy sources. In order to further intensify these efforts and coordinate them even better within the Group, we want to work in these areas in a structured manner at a global level. As a company that is aware of its social responsibility and knows how to live up to it, we set ourselves long-term goals that we implement in small steps in the short term in order to improve every day.
The main objective of our sustainability program is to create value-added that goes beyond the financial return for our shareholders, and do so based on quantifiable criteria. To emphasize the seriousness of this commitment, in 2023 we integrated non-financial key performance indicators (KPIs) into the Executive Committee’s long-term incentive plan (LTIP). This underlines our clear commitment to sustainability, with the aim of continuously improving our environmental, social, governance and economic performance. Our approach combines long-term thinking with an incremental approach, consistently implementing one step at a time.
Sustainability encompasses a broad array of aspects, including climate action, compliance with legal and contractual obligations, and acting responsibly in our dealings with people. In response to these diverse requirements, Comet has taken specific measures since first implementing its formal sustainability program, which cover the following areas:
We take a systematic, yet pragmatic approach to sustainability. Aligning the sustainability strategy with the business strategy is one aspect. Sustainability is a priority for the Board of Directors and the Executive Committee. Just as important for success, however, is the integration of sustainability consciousness into the corporate culture in order to involve and engage every employee. Sustainability goals can only be achieved if they are lived by the people in the company and are thus in line with Comet’s values and convictions. To accomplish this, we must raise awareness among all employees that sustainability is pursued not only to serve the company, but also as a guarantor for a future worth living for us all. We therefore encourage our employees wherever possible to participate in generating ideas and implementing them in a bottom-up approach. At the Flamatt site alone, the call to our employees to contribute ideas for improving our environmental footprint resulted in about 100 suggestions with impacts ranging from relatively small to large. Some of the ideas have already been implemented, others will follow. One thing is clear: We are not driven by regulations and rankings as much as by the firm conviction that Comet’s long-term success is closely linked to sustainable business practices.