Stora Enso focuses on wider ethical topics rather than mere compliance with regulations. We believe this approach will lead to successful business, foster accountability, and enhance our good reputation.
Opportunities and challenges
Entering emerging markets offers excellent business opportunities, but also presents risks relating to topics such as corruption and fraud. While legislation is a great tool for combatting corruption, laws also place high demands on companies’ controlling mechanisms.
New regulations such as the EU Data Protection Regulation set requirements relating to the processing of personal data. Cybercrime meanwhile represents a major challenge for companies.
How we work
We have an efficient management system for guiding and monitoring our ethics and compliance work, from the executive to divisional level.
Our Ethics and Compliance Strategy has four focus areas:
• Top level commitment
• Improved communication and training
• Intensified efforts in countries with heightened concerns
• Developing grievance channels.
We have developed an index to follow and evaluate our employees' perceptions of topics related to Stora Enso's Code of Conduct. The index is based on employees' responses to related questions in our annual employee survey. In 2015 this index improved to 79 (75 in 2014), and our goal is to maintain this positive trend.
During 2015 we significantly intensified communications efforts to make ethics and compliance topics more visible among our employees, while also enhancing internal and external grievance mechanisms. In 2015 a total of 67 reports received through Stora Enso's various grievance channels were identified as potential non-compliance cases. Proven misconduct leading to disciplinary and/or legal actions was identified in 10 cases, while six further complaints were found to be valid without involving misconduct. None of the proven misconduct cases were related to child labour, forced labour, or discrimination.