Corporate responsibility

Responsibility is one of Fingrid’s corporate values and responsible business conduct is a strategic choice for the company. In addition to successfully fulfilling its societally important core mission, the following aspects are important to Fingrid: safety, procurement practices, stakeholder confidence, financial result, Code of Conduct and taking care of the work community. Fingrid’s compliance with corporate responsibility is steered by the set strategy targets. The key targets have been set by identifying topics that are of material importance to Fingrid. The need for updates to the materiality analysis is assessed annually as part of the strategy process, based on an operating environment and stakeholder analysis and on the strategy update. Fulfilment of the targets serves as the basis for executive management’s and personnel’s remuneration.

Corporate responsibility is managed as an integrated part of Fingrid’s management system. Fingrid’s Board of Directors approves the company’s Code of Conduct and monitors the company’s compliance in operating responsibly. The Board is responsible for arranging corporate responsibility management and its integration into business operations. The CEO and the heads of functions are each responsible for corporate responsibility issues within their area of responsibility. Social issues and environmental impacts are taken into account in all decision-making and when assessing operations alongside profitability issues.

Fingrid’s human rights commitment has been made as part of the company’s Code of Conduct. To ensure its understanding of human rights impacts, the company carried out an assessment in compliance with the due diligence process recommended in the UN’s Guiding Principles on Business and Human Rights, and updated its action plan during the year under review. 

In accordance with its Code of Conduct, Fingrid is a responsible tax payer and combats the grey economy, and does not engage in money laundering or corruption, such as blackmail and bribery. No cases related to corruption and bribery occurred during the year under review. Fingrid reports on its tax footprint and does not carry out special arrangements to minimise taxes. 

Managers and the entire work community ensure that behaviour is in line with the Code of Conduct. New employees must complete the online induction training on the Code of Conduct. A confidential whistle-blower system managed by an independent third party is available to employees who suspect a breach of the Code of Conduct. The company received an excellent AAA rating in a survey carried out during the year under review, where Fingrid employees assessed the responsibility of the company’s ways of operating. According to a customer survey, the trust KPI measuring the implementation of the customer strategy and customers’ trust was 3.9 on a scale of 1–5.

Fingrid has joined the United Nations’ Global Compact initiative and its Code of Conduct is in line with the initiative’s principles on human rights, labour, environment and anti-corruption. In procurements, Fingrid requires its contractual partners to commit to Fingrid’s corporate responsibility requirements and monitors compliance using a risk-based approach. The Code of Conduct is a condition for being included in supplier registers used in recurring substation and power line procurements. In addition, contractual partners are subject to separate contract conditions related to the use of subcontractors and workforce, and to occupational safety and environmental matters. During the year under review, Fingrid carried out 13 audits on its work sites to verify compliance with contractor obligations, occupational safety and environmental management. The audits revealed that operations and induction at the work sites are generally on a good level. A third-party audit service for the international sourcing operations was established during the year. Compliance with the corporate responsibility requirements was ensured through a total of 11 supplier audits.

To ensure transparency and comparability, Fingrid reports on its corporate responsibility in accordance with the international Global Reporting Initiative (GRI) framework. Information pertaining to the outcomes and figures related to our integrated and goal-oriented sustainability efforts in the areas of, among other things, employee well-being, occupational safety, environmental impacts and tax footprint, is disclosed in the section dedicated to each area of sustainability in the annual report.