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.
In 2019, Adapteo conducted a stakeholder dialogue with internal and external stakeholders about expectations and concerns related to Adapteo’s sustainability work. Based on insights from the interviews with selected customers, investors and management, a materiality analysis was carried out covering the environmental, social and governance perspective of sustainability. Ten key sustainability aspects were selected as focus areas for Adapteo’s sustainability efforts and reporting, identified by the questioned stakeholder groups as the most material.
These material aspects helped inform the selection of GRI aspects as well as shape the key focus areas of Adapteo’s sustainability strategy. 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.