Adapteo has secured a thorough integration of sustainability in its business through an overarching governance structure, a framework of policies and certifications.
Adapteo’s sustainability governance structure secures the integration of sustainability in Adapteo’s business model and in all levels of the organisation. By incorporating all levels of our organisation in the development of our sustainability work, we ensure that our sustainability strategy is adapted to the company as a whole and that the goals are rooted in our actual work and possible to follow up closely and continuously.
The Board of Directors decides on the overall business strategy and approves policies such as Code of Conduct and Sustainability policy.
The Adapteo Group Management Team is responsible for the overall sustainability work and decides on the overarching sustainability strategy, targets, and follow-up. This work is led by the Senior Vice President Marketing, Communication and Sustainability.
A Sustainability Council, consisting of representatives for Sourcing, Production, R&D/Product management, Human Resources, Finance, Corporate Development and the Business Units, meet in regular meetings. The council follows-up the sustainability efforts and prepares sustainability activities related to policies, guidelines and strategy, which the business units and group functions are then responsible for implementing in the business.
Based on the sustainability strategy, an annual plan for sustainability activities is developed in January. The plan aims to achieve the targets and is continuously followed up in Sustainability Council meetings. The reporting of the sustainability work to the General Management team takes place four times a year, and to the Board of Directors twice a year. The progress of Adapteo’s sustainability work is followed up through the Global Reporting Initiative and Adapteo’s other sustainability KPIs, and the material sustainability aspects in the yearly Sustainability Report in conjunction with the Annual Report. This also includes how Adapteo contributes to the UN Sustainable Development Goals.
An assessment of sustainability risks is performed as part of the Enterprise risk management process every year in November. An annual review of policy documents and performance as a responsible business takes place, with changes being approved by the Board of Directors.
Adapteo’s key stakeholder groups are customers and their tenants, employees including management, investors and suppliers. Adapteo regularly conducts stakeholder dialogues with all these groups about expectations and concerns related to Adapteo’s sustainability work.
During 2020, Adapteo has updated its analysis of material aspects in the environmental, social and governance areas. Dialogue with internal and external stakeholders, such as employees, customers, investors and suppliers, has guided the company in this assessment. As part of this analysis, Adapteo has mapped the
material areas that are of highest importance to internal and external stakeholders, and where Adapteo can have most impact. These material aspects inform the company's sustainability strategy as well as its work on setting targets and KPIs, to measure and report progress.
Adapteo will re-assess on a regular basis the material sustainability aspects together with a wide range of stakeholder groups, to ensure that Adapteo’s sustainability efforts are relevant over time.
Adapteo's core values, purpose and Code of Conduct form the basis for the company's business operations. Together they act as a compass for both employees and business partners. In addition to Adapteo's own values, the Code of Conduct is based on the OECD's guidelines for multinational enterprises and the UN Global Compact, with important principles for human rights, labour, environmental responsibility, and anti-corruption.