Governance in sustainability
Good governance and ethical conduct form the foundation of our operations, guiding decision‑making at all levels.
- Sustainability
- Governance
Our Approach
All our businesses are committed to promoting good governance at all levels, and we are equally committed to conducting business in a fair and ethical manner. The assessment of sustainability impacts, risks, and opportunities is integrated into Aspo’s decision‑making, including the consideration of trade‑offs, company’s strategy, significant business transactions, and the risk management process. Aspo’s Code of Conduct guides the Group’s activities as a responsible employer. From a governance perspective, we have identified corporate culture, protection of whistleblowers, corruption and bribery incidents (G1) as the most material sustainability theme for the Group.
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.
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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.