Sustainability – an important basis for long-term value-creation
Strategic framework for sustainable development
Indutrade has a strategic framework that summarises our focus areas for sustainable development. The framework is based on a materiality analysis in which we have identified the most important sustainability topics for the Group and our companies, based on impact and stakeholder expectations. We work towards overall goals in the areas of People, Environment and Products & customers and have defined associated targets and KPIs that we follow up at least annually.
The aim of our strategic sustainability work is to promote business opportunities, attract the best talent, drive sustainable profitable growth and support the UN Sustainable Development Goals. Indutrade is a signatory of the UN Global Compact and supports the ILO Conventions, the UN Guiding Principles on Business and Human Rights and the OECD guidelines for Multinational Enterprises. Indutrade contributes both directly and indirectly to a large number of areas for sustainable development. The SDGs where Indutrade has the greatest responsibility and opportunity to make a difference are presented above.
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People
Objective 2030: 100% engaged people -
Environment
Objective 2030: –50% Scope 1 and 2, –25% Scope 3 (base year 2023) -
Products & customers
Objective 2030: 100% of Indutrade's companies contribute to sustainable customer value
Sustainability governance
Indutrade's sustainability governance efforts have been adapted to our decentralised organisation and they primarily occur via the boards of our subsidiaries. Sustainability is included as a mandatory agenda item at the subsidiaries’ board meetings. Outcomes on reported data as well as the company’s own materiality analysis and associated goals, KPIs and activities are discussed.
The MD and management team of each subsidiary have operational responsibility for their own sustainability work and each board is ultimately responsible for ensuring that the company follows its own and Indutrade's guidelines and policies.
Sustainability governance occurs primarily via:
- Board meetings
- Business areas
- Code of Conduct, policies, guidelines
- Network meetings, e-learning and training
- Sustainability reporting and data follow up
At Group level, the Board of Directors is involved in sustainability issues by approving strategies, policies, goals, acquisitions and possible divestments, as well as monitoring preparations ahead of new sustainability legislation. The Board also approves the annual Group-wide risk analysis, which includes important areas concerning sustainable development.