A responsible developer of businessesAspo believes that socially, financially and environmentally sustainable business is a requirement for creating long-term value. A responsibly led, growing company can create jobs, tax revenues and wellbeing.
Aspo Group’s CEO is in charge of the management of Aspo’s responsibility. The CEO reports to the company’s Board of Directors in accordance with the risk management policy. Aspo’s Code of Conduct defines a common set of rules for responsible business in all the Group’s subsidiaries. The Board of Directors of Aspo approved the revised Code of Conduct in December 2019.
Since 2018, Aspo has been a member of the UN’s Global Compact initiative, and the Group’s operations are steered by the ten Global Compact principles related to human rights, working life principles, the environment and the prevention of corruption. In 2019, Aspo also joined the corporate responsibility network FIBS. Aspo aims to actively develop its responsibility at a group and subsidiary level.
The stakeholder survey completed in 2019 and the materiality assessment prepared on its basis help us to steer our corporate responsibility and stakeholder processes toward the factors that are most significant for our stakeholders and are also related to the key financial, social and environmental impacts of our business operations.
Based on the materiality assessment, Aspo’s most significant areas of responsibility are:
- The engagement of employees and the improvement of wellbeing at work
- Openness and compliance with regulations and the Code of Conduct
- Environmentally friendly innovations and reduced emissions
- Product safety
As a conglomerate, Aspo’s different businesses partly have highly different focus areas in their responsibility. ESL Shipping has actively reduced its environmental footprint by minimizing its fleet’s emissions and energy consumption. The operations of Leipurin focus on product safety, and the reduction of waste and wastage. Product safety is also essential for Telko, which acts as a link between industrial customers and international raw material manufacturers. However, Aspo’s Code of Conduct and responsibility priorities steer all operations at Group level.
The aim is to conduct the stakeholder survey regularly and redefine Group-level priorities as necessary. The goal set for 2020 is to define short- and long-term responsibility targets for every subsidiary. Progress in reaching these targets will also be monitored in Aspo’s responsibility reports.
Every year, Aspo reports the fulfillment of the Global Compact principles as part of this account of non-financial information in accordance with the requirements set out in the Finnish Accounting Act and EU Directive 2014/95/EU. The Board of Directors of Aspo approves and signs this information annually when approving the financial statements.