During 2020, ITAB has continued to integrate sustainability issues in the Group’s companies through systematic sustainability work as a natural part of the business strategy. These activities are conducted primarily within the four areas of focus that the Group has identified, and following up is performed using the key performance indicators that have been drawn up. The reporting is based on Global Reporting Initiatives’ (GRI) guidelines for sustainability reporting. The areas of focus include the sustainability issues that have been identified as being most important for ITAB and for the Group’s stakeholders. ITAB has developed the programme and its objectives during 2020.
ITAB’s sustainability programme is based on a materiality analysis stemming from the impact that the Group’s operations have on the environment, people, the economy and society. The most important areas emerge in dialogue with the company’s various stakeholders.
For ITAB, it is important to conduct an ongoing dialogue with its stakeholders and thereby build a relationship that incorporates their views, expectations and needs. The aim is that this should contribute to sustainable value creation.
ITAB’s most important stakeholders are:
There is an ongoing dialogue with stakeholders to ensure that we continually improve our performance. Examples of the main issues and areas raised in this dialogue are presented opposite. The sustainability work is governed by what the stakeholders and the company consider to be most important. For this purpose, a materiality analysis is conducted in which the aspects that are most relevant for the Group are weighed against the operations that the company conducts. The materiality analysis includes the impact that the operation has on the economy, society, people and the environment, as well as those aspects that affect the stakeholders’ decision-making and their expectations. In the long term, the materiality analysis that the Group conducted in 2017 will form the basis for the Group’s sustainability work and be adapted according to new conditions. The long-term focus areas that have been identified can be found in the Sustainability Report.
Reporting and following up
Reporting how well ITAB’s sustainability work is proceeding takes place in line with Global Reporting Initiatives’ (GRI) guidelines for sustainability reporting. ITAB has developed a number of Key Performance Indicators (KPIs) for regular following up and reporting of the sustainability work. The KPIs are reported quarterly by each commercial company to the Parent Company, and are followed up in ITAB’s sustainability council, in which all the functions are represented. Examples of KPIs that are followed up and for which targets are set include:
ITAB is continuing to work on reducing the risks as regards environmental and social issues in the value chain. The assessment of sustainability risks is an important part of the work on the materiality analysis and forms the basis for the sustainability programme and the priorities as regards our sustainable goals.
ITAB has operations in a number of markets that are associated with a raised sustainability risk. Issues relating to safety, working conditions and corruption are particularly important from a risk perspective. ITAB handles the risks through the activities in the sustainability programme, with the implementation of ITAB’s code of conduct and supplier policy being important tools. Several of ITAB’s facilities located in countries associated with a higher risk are covered by audits performed by some of ITAB’s major international customers.
Increased value through circular thinking
ITAB has recently entered into close dialogue with some of its major customers regarding the development of circular solutions, i.e. solutions where ITAB can deliver value to the customer by replacing parts of a product that have been consumed. The aim is for these parts to be able to be used subsequently in new installations or be recycled, thereby reducing the consumption of resources going forwards in a circular cycle. This can also open the door to new business models, for example based on leasing and service/installation for the customer. Collaborations of this type are an important part of ITAB’s future business development.
In 2015, the UN’s member states adopted a universal agenda that incorporates the Global sustainable development goals. There are 17 of these, acting as a guide for ITAB. There has been additional focus on four of these, with the most significant aspects set out below.