Elopak’s overall corporate governance is duly presented in our Annual Report. A more specific governance model for sustainability areas is presented below.
Accountability for sustainability in Elopak lies with the Board of Directors. The Board has appointed the Board Audit and Sustainability Committee (BASC) to assist in discharging its oversight responsibilities. This includes monitoring compliance with laws, regulations, internal standards, policies and expectations of key stakeholders. BASC also oversees the reporting process and ensures balance, transparency, and integrity of external financial and sustainability reporting. The Board has also appointed the Board Compensation Committee, which oversees the compensation of management, including KPIs embedded in the compensation mix.
Sustainability is owned by the executive management, the Global Leadership Team (GLT).
The tasks of overseeing compliance, adherence to sustainability regulations, reporting and certification has been delegated by the GLT to a Sustainability Council. Chaired by the Sustainability Director, the council consists of the CMO, the CFO, the CHRO and the CPO/ EVP Packaging and Closures. This council meets quarterly to oversee sustainability processes, priorities and responsibilities within the represented business areas. A cross-functional sustainability network has been established to manage and implement relevant sustainability topics in Elopak. The network consists of relevant functions from the various business areas represented in the sustainability council.
An Ethics and Compliance Council has been established, chaired by the Chief Legal & Compliance Officer and attended by senior management and personnel. The Council meets at least twice a year to ensure a holistic and cross-functional approach to managing and coordinating compliance risk areas and facilitating efficient implementation across Elopak. Our Compliance Network, consisting of Compliance Champions, supports the implementation of compliance in the line through raising awareness, facilitating training, and providing general guidance. This setup allows us to cover all business areas and regions in our organization.
There are also other networks (e.g. safety, procurement) which are not included in the figure below
Governance of Human rights in Elopak
Complying with local laws and legislation is a line responsibility, and effective management of human rights issues requires cross-functional coordination. In Elopak, Group Legal & Compliance acts as support towards the Group to provide insights, guidance, and direction on compliance issues, encompassing human rights. The Ethics & Compliance Council has a responsibility to manage and coordinate human rights risks, along with other ethics and compliance risk areas, and facilitate an efficient implementation across the organization. The Council is made up of senior management from our Group functions: legal and compliance, human resources, procurement, sustainability, finance and IT, including members representing the business areas from operations and specific geographical regions. When deemed necessary, additional representatives participate in the Ethics & Compliance Council meetings. The Council is chaired by the Chief Legal & Compliance Officer. Ethics and compliance matters, including human rights, are regularly discussed with the executive management team and are reported to the Board Audit and Sustainability Committee twice a year by the Chief Legal & Compliance Officer.
Governing documents and standards
We have multiple governing documents to support our sustainability approach. In addition, we use measures such as certifications and third-party audits.
Elopak’s management of sustainability topics is defined through the following policies:
- Code of Conduct
- Global Supplier Code of Conduct
- Human Rights Policy
- Anti-Corruption Policy
- Anti-Money Laundering Policy
- Sanctions and Trade Compliance Policy
- Speak Up Policy
- Diversity, Equity and Inclusion Policy
- Safety Policy
- Sustainability Policy
- Procurement Policy
- Responsible Sourcing of Paperboard Policy
- Employee life cycle policy (expected in 2023)
- Tax policy (expected in 2023)
A number of procedures help execute on the policies listed above. These documents are available for all employees through our document management system.