ESG governance

Strong corporate governance is a cornerstone of Vattenfall’s strategy and long-term value creation. ESG governance describes how our ambitions are translated into practical requirements, processes and monitoring across the organisation and the value chain.

The Board of Directors has the overall responsibility for Vattenfall’s strategy, including sustainability-related matters. The President and CEO, together with the Executive Group Management, is responsible for managing sustainability matters and implementing the strategy approved by the Board. This includes ensuring that sustainability objectives and targets are embedded in business planning, operational decision-making, and performance follow-up across the Group.

Structured management

Vattenfall has structured management processes in place that cover key topics such as impacts and risks, compliance with legal and other requirements, target setting, follow-up, audits, and annual management reviews. The Environment and Health & Safety departments use certified management systems to ensure legal compliance and continuous improvement. Vattenfall’s policies outline the overall direction for how Vattenfall manages its impacts, with special focus on reducing them as much as possible.

Specialist staff functions (for instance Sustainability, Environment, Health & Safety, DEI) lead the development of governance and steering frameworks to support the organisation in its activities. This provides a consistent approach across business areas while allowing for local adaptation where needed.

Value chain governance

Our main markets are in Sweden, Germany, the Netherlands, Denmark and the United Kingdom, whereas the value chain has a global dimension. Vattenfall’s Code of conduct for suppliers and partners is integral for value chain governance and human rights considerations, and to ensure responsible practices throughout our operations and supply chain.

Our value chain governance approach includes impact assessments, stakeholder engagement, and monitoring of labour and human rights standards, ensuring that both environmental and social responsibilities are upheld across all projects and partnerships.

Stakeholders

Engaging with stakeholders is a core element of Vattenfall’s sustainability governance. Ongoing dialogue helps us understand expectations, balance different interests and make informed decisions. Our stakeholders include customers, employees, local communities, suppliers, authorities, business partners, NGOs and society at large.