Governance in sustainability
Aspo and all its businesses are committed to driving sound governance practices at all levels.
The assessment of sustainability impacts, risks and opportunities has been integrated into Aspo’s decision-making processes, including consideration of any compromises in the supervision of the company’s strategy, significant business activities and risk management. Compromises mean situations where an investment cannot be made because it does not sufficiently support environmental, social and governance (ESG) targets.
The ESG perspective is considered also in business acquisitions.
Code of Conduct
Aspo is committed to conducting business honestly and in an ethically sustainable manner. According to Aspo’s Code of Conduct, all Aspo Group employees are responsible for ensuring that the Group acts in accordance with the company’s ethical commitments.
Aspo supports a culture of discussion that encourages everyone’s voice to be heard. Each employee is expected to report any suspicions or observations regarding activities that are in violation of the law, the Code of Conduct or any other Aspo policies. Aspo does not accept any retaliatory action, including discharges, pay reductions or the prevention of promotion, against any person who has sincerely submitted a notification of suspected misconduct, or who is involved in the investigation of suspected misconduct.
Prevention and detection of corruption and bribery
Aspo Group has prepared the Code of Conduct and related training for the entire personnel. The main message is zero tolerance for any form of corruption and bribery. In 2024, Aspo Group did not become aware of any suspected incidents of corruption or bribery.
In addition to Group-level training, ESL Shipping is committed to fighting corruption as a member of the Maritime Anti-Corruption Network (MACN). ESL Shipping’s vessels operate mainly in Northern Europe, but the company understands that corruption remains a significant problem in some of the countries where its vessels operate.
Initiatives and commitments
Aspo Group committed to the Science Based Targets initiative (SBTi) in 2024 and aims to set a short-term science-based climate target. Additionally, Aspo aims to prepare a transition plan in 2025 to reduce the Group’s emissions in line with the Paris Agreement to limit global warming to 1.5 °C.
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.
The business units are committed to key agreements and regulations within their respective industries. For example, Telko adheres to the EU's REACH regulations, which maximize chemical safety, and follows the ethical and business conduct principles of the FECC, the European Association of Chemical Distributors.
In 2019, Aspo became a member of the corporate responsibility network FIBS. FIBS is the largest corporate responsibility network in the Nordic countries, a leading accelerator of sustainable business, and a developer of companies' expertise. FIBS has increased companies' understanding of the opportunities in sustainable and responsible business and brought many new responsibility themes to their agendas, from diversity management to natural capital, and from human rights to the SDG goals. FIBS actively collaborates with CSR Europe, WBCSD, and other international organizations in the field, providing its members with the latest tools for corporate responsibility management.
Read more:
Code of Conduct
Aspo Sustainability Policy
Sustainability governance in ESL Shipping