Sustainability
Governance
As a signatory to the UN's Global Compact, we actively support human rights and conduct our business in a manner that is socially responsible and consistent with the principles of the Global Compact, the International Bill of Human Rights, the ILO's Core Conventions and the OECD's Guidelines for Multinational Enterprises.
AddLife is less exposed to direct non-financial risks in product development and production because of the low percentage of in-house manufacturing. However, the group faces risks when it comes to managing suppliers' purchases and their operations. We also have certain responsibility for the products sold on the market. When it comes to environmental risks, our direct impact is limited upstream and managed through dialogue, influence and choice of suppliers. Logistics is a priority area for future assessment of indirect impact.
AddLife has a common group strategy for governance through our values and culture.
Our business model encourages a mixed model of central and local management of sustainability risks and opportunities, often by policies and management systems where effectiveness is monitored through different activities.
Each subsidiary is responsible for its own business activities within the context of the requirements for growth, profitability and sustainable development as set by the Group. Our decentralized model, which is part of our DNA, also entails complexity. Local responsibility and entrepreneurship, combined with a wide range of company sizes makes it challenging to have a "one size fits all" model. Thus, rather than having an independent sustainability function, our sustainability approach is integrated across the different group elements and requires to be adapted case-by-case.
Our operations are subject to external review and monitoring by the Swedish Financial Supervisory Authority and Nasdaq Stockholm.