Corporate Purpose and Strategic Focus
RAG Austria AG is Austria’s largest energy storage company and one of Europe’s leading gas storage facility operators. As a partner in renewable energy, the company develops innovative and forward-looking energy technologies such as the storage and production of hydrogen using power-to-gas technologies and methane splitting. The production of crude oil and natural gas, as well as the use of gas as a fuel (CNG and LNG), round off the portfolio. We strive to provide our customers with safe, efficient, environmentally responsible and affordable energy and gas storage services in a sustainable manner. We strive for a consistently high level of technical and economic performance and aim to secure our competitiveness in the long term through innovation.
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A responsible corporate citizen
a) Customers
We aim to meet our customers’ high expectations by reliably providing them with natural gas and hydrogen storage, crude oil, natural gas and related services. In doing so, we meet their expectations regarding price, quality, safety and environmental impact. To this end, we rely on our decades of experience, modern technologies, state-of-the-art safety management, and environmental and business expertise.
b) Employees
RAG is committed to treating all employees with respect, fairness and appreciation. Equal treatment, inclusion and diversity are central components of our corporate culture. We respect the dignity, rights and individuality of every person – regardless of origin, gender, sexual orientation, religion, culture, age, disability or other personal characteristics.
Thus, absolute equal treatment applies regarding employment conditions, remuneration, development opportunities and career prospects. Discrimination in any form is not tolerated at RAG. We aim to offer our employees a safe, stable and at the same time flexible working environment that fosters talent and opens development prospects.
We place great trust in the initiative and personal responsibility of our employees, as RAG’s economic success is built on their commitment and cooperative spirit.
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c) Shareholders
We aim to safeguard shareholders’ and investors’ capital and to manage the funds entrusted to us with care. This includes generating an attractive and market-aligned return on the capital invested in the company on a sustainable basis.
d) Business partners
We strive for fair business relationships with our partners and suppliers. Procurement processes are conducted transparently and in accordance with the principles of free and fair competition. We expect our business partners to observe and comply with our corporate principles and the Supplier Code of Conduct. We cooperate only with companies that give due consideration to contractually agreed or legally binding environmental, occupational health and safety, and governance aspects, and are prepared to rectify any non-compliance should it come to light.
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e) Society and the environment
We aim to conduct our business activities as responsible members of society. We consistently comply with the laws of the countries in which RAG operates. We support fundamental human rights, in particular the International Bill of Human Rights, the International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, and the UN Guiding Principles on Business and Human Rights.
We recognize the environmental protection and the sustainable use of natural resources as part of human rights and regard them as integral components of responsible and forward-looking business practices. We take responsibility and aim, within the scope of our business activities, to identify environmental risks at an early stage, address them through preventive measures, and minimize the environmental impact of our operations. This includes in particular:
- Conscious use of natural resources such as water, soil, air and energy.
- Preserving biodiversity and protecting ecosystems at and around our sites.
- The safe and responsible handling of hazardous substances and chemicals.
- Proper treatment, reduction and avoidance of (hazardous) waste.
Furthermore, through its activities, RAG contributes to regional value creation and sees itself as a responsible employer of economic significance.
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f) Local residents and neighbors
Good relations with our neighbors form the basis of a sustainable energy future. Since its founding, RAG has regarded the responsible management of our stakeholder groups – above all the local residents in the regions where our operations are located – not merely as a key priority, but as a fundamental duty. We therefore always strive to engage in discussions and maintain an active and open dialogue. Ongoing communication with local communities, the relevant authorities and key local institutions is particularly important to us as part of a long-term partnership.
These six areas of responsibility are inextricably linked. Management therefore endeavors to constantly weigh up priorities against one another based on these principles and to make sound decisions within the scope of business activities based on these assessments.
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Health, Safety and Environment
A key objective of the company is to eliminate risks and hazards and to prevent harm to all people working at RAG and to the environment affected by our activities. This is done in accordance with our commitment to contributing to sustainable development.
This involves:
- the prevention of accidents, damage to health and the environment
- the ongoing reduction of emissions and waste
- the efficient use of energy and raw materials
- preparing for and managing emergency situations
- supporting our employees, contractors and business partners in developing a shared understanding of health, safety and environmental (HSE) issues, and
- the ongoing review of our HSE objectives
The use of continuous health, safety and environmental management systems ensures the ongoing improvement of our measures.
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Corporate governance and compliance
a) Compliance with legal regulations
RAG conducts its business activities in a socially responsible manner and in accordance with the relevant legal regulations.
b) Political independence and anti-corruption
RAG does not engage in party politics and considers itself as (politically) independent. It makes no financial contributions to political parties, organizations or their representatives. RAG does, however, have the right and the duty to make its position clear to public authorities on matters that concern either itself, its employees, customers or shareholders. It also has the right to comment on issues and matters that affect society as a whole and to which it can make a contribution.
c) Personal integrity
RAG does not tolerate any form of corruption, bribery, or the acceptance or granting of benefits. This prohibition applies to business dealings and to all parties, regardless of whether they are individuals in the private sector or public officials. Employees must not accept, promise or grant gifts, invitations or other benefits if this creates the appearance of influence or could unduly influence business decisions. Similarly, conflicts of interest between employees’ personal affairs and the duties they perform for the company must be avoided. Donations and sponsorship are awarded exclusively based on transparent criteria.
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d) Internal control
Compliance with our internal guidelines and processes is ensured by the four-eyes principle and an internal control system. All business transactions carried out on behalf of RAG must be documented in accordance with existing regulations and must be verifiable.
e) Information security and data protection
As a leading energy storage company in Austria, RAG operates critical infrastructure. Compliance with legal requirements regarding information security and data protection is of great importance to us.
f) Compliance reporting system
RAG attaches great importance to ensuring that its corporate principles and values are consistently upheld in all areas of business activity.
To enable the early detection of compliance breaches and to ensure an appropriate response, RAG has implemented a structured reporting system. This allows employees to submit reports either confidentially or anonymously, depending on the nature and scope of the incident.
External stakeholders have the option of contacting the designated points of contact listed on the RAG website directly with any questions, complaints or other concerns regarding current projects. Contact can be made either by email, telephone or via the contact form provided.
In addition, a digital whistleblower platform is available through which reports of potential compliance breaches can be submitted either by disclosing one’s identity or anonymously
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Economic Principles and Competition
RAG operates within a diverse and constantly changing social, political and economic environment. We firmly believe that society’s interests are best served by a market-based economic system.
RAG advocates free competition. It is our aim to compete in the market fairly and responsibly, within the framework of existing competition law. RAG will not prevent others from competing with it.
Profitability is an essential prerequisite for fulfilling the responsibilities and for sustaining a long-term presence in the market. Profitability is also a measure of efficiency and of the correct allocation of operational resources. Profitable investments are necessary to meet consumers’ future energy demand. Without profits and without a strong financial foundation, it is not possible to achieve the company’s objectives in the long term.
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The criteria used to decide on investments and expenditure are not exclusively economic in nature, but also take into account social, environmental and safety aspects.
Through responsible, sustainable corporate governance, RAG makes a positive contribution to achieving the United Nations’ 17 global Sustainable Development Goals (SDGs). In doing so, RAG is particularly committed to affordable and clean energy, with sustainable production for industry, innovation and infrastructure, with measures for climate protection, to strong partnerships for achieving the goals, as well as to decent work, gender equality, health and well-being, and high-quality education for our workforce.
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Communication
Given the significance of its activities for the national economy and for individuals, RAG regards open and proactive communication as indispensable. It is the company’s responsibility to provide all stakeholders with open and comprehensive information. This is done through personal discussions with local residents and neighbors, as well as through events such as open days for the local community. In the context of regulatory procedures, stakeholders are involved in a transparent manner.
In this way, we build trust and foster acceptance of our activities and performance.
Information about the company is generally available on the website www.rag-austria.at.