avk-esg-2024-25 - Flipbook - Page 52
supports our long-term strategy to promote
a safe and healthy work environment for all
employees, to reduce work-related risks, and
to enhance compliance with regulatory and
customer specific requirements.
Accounting policies (S)
Accidents, Lost Time Accident Frequency
Rate, and fatalities
Information on accidents is collected locally
from all our companies through monthly
financial reporting, following globally defined
specifications and definitions. The specifications
and definitions of accidents resulting in lost
time are outlined in the AVK H&S document
01.020.
Reported accidents are verified by the AVK
Group’s Sustainability & ESG function to secure
that reported accidents are within the scope of
accidents with lost time definition. All incidents
are documented with details on the nature of
the accidents and their underlying causes.
The total number of accidents refers to workrelated incidents that led to absences extending
beyond the day of occurrence. Lost Time
Accident frequency (LTAFR) is calculated as the
number of accidents per million working hours.
Lost Time Accident Frequency Rate (LTAFR)=
(Total Number of Accidents × 1,000,000) /
Total Working Hours.
To ensure consistency and transparency across
our global operations, AVK has set an average
of 1,900 annual working hours per employee.
The benchmark of 1,900 annual working hours
per employee is based on the global OECD
standard for average working hours. This figure
has been adjusted to reflect the geographic
distribution of our workforce, the majority of
whom are based outside the EU, including in
China, and considers regional variations in
working hours and labour legislation.
Fatalities are defined as accidents that occur at
the workplace or while performing tasks directly
related to one’s employment.
52 | AVK Group Sustainability report 2024/2025
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