Siemens joins Corporate Ethics Initiative in Russia

30 April 2010

Siemens has joined the Corporate Ethics Initiative, which aims to foster ethical and clean business activities in Russia. The company is one of the organization’s 46 founding members, the majority of whom are multinational companies headquartered in Germany.

Siemens has been committed for several years to cooperating with companies and institutions worldwide to promote clean business activities – so-called collective action. “This is a breakthrough for efforts to introduce collective action in Russia as well,” said Dietrich Möller, CEO of Siemens Russia. “We’re confident that local, Russian companies, too, will soon increase their participation in the initiative.”

Siemens joined the International Business Leaders Forum (IBLF) in 2009. Since then, it has supported the IBLF’s efforts to launch – together with other companies and institutions – the Corporate Ethics Initiative in Russia. Siemens today signed the agreement at an event sponsored by the German-Russian Chamber of Commerce in Moscow.

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at: www.siemens.com.