Ethical business conduct

Guiding principles for all we do

02 Sustainability Ethical Business Conduct

Our commitments

Sustainability is embedded in our culture. Our values - collaborative, dynamic, responsible and long-term perspecive - are at the core of how we operate and navigate in our daily operation.

The overall target is to integrate ESG in our daily operating model, both for Arendals Fossekompani and our portfolio companies. The work we do on compliance and improvement of policies and guidelines, is according to the OECD Guidelines for Multinational Enterprises. The OECD Guidelines are also supported by the investment strategy in M&A processes and Arendals Fossekompani’s Green Bond Framework.

Key results 2022

2

reported incidents/breach of CoC/SCoC

78%

of employees signed code of conduct

45%

of employees recieved training in CoC and Whistleblower policy

Governance Framework

The OECD Guidelines for Multinational Enterprises are recommendations from governments to multinational enterprises on responsible business conduct. The OECD Guidelines set standards for responsible business conduct across a range of issues, such as human rights, labor rights and the environment.

The Norwegian Corporate Governance Board ("NCGB" or "NUES") issues the recommendation on corporate governance for companies listed in Norway.

Ambitions and goals for 2023

In 2023, we will continue to improve our way of working with governance, risk, and compliance.

1

100 % of employees recieve training in Whistleblower policy

100 % of employees recieve training in Whistleblower policy

2

100 % of employees recieve training in and sign Code of Conduct

100 % of employees recieve training in and sign Code of Conduct

3

100% of employees receive training in ICT security.

100% of employees receive training in ICT security.

Contact

We encourage you to share concerns you may have if you witness unethical behaviour that contradicts our values or jeopardizes our reputation. Contact our Sustainability Director if you have concerns or want to report any suspected or potential breaches of law or Arendals Fossekompani`s policies.

Ingunn etterstol

Ingunn Ettestøl

Chief Sustainability Officer (CSO)

Send email +47 924 47 306