Policies and management

Sustainability is fully integrated in Vattenfall's group strategy, target-setting, decision making and risk management.

The sustainability policy and governance measures are part of Vattenfall's management system and applied throughout the business and across regions.

Vattenfall's CEO is ultimately responsible for Vattenfall's sustainability work and impact. In addition, all polices are approved by the Board of Directors. Each business area within Vattenfall is responsible for integrating sustainability into their operations.

Guiding policies

Vattenfall's promise is to take sustainability into account in all our actions and decisions. The foundation of the sustainability policy are the principles of the UN Global Compact, the priority areas set out by Vattenfall's owner the Swedish State, the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights as well as other guidelines and norms.

Guiding external policies

Sustainability policy

For Vattenfall, sustainability means taking responsibility for future generations by contributing to sustainable development: economically, environmentally and socially. We clearly demonstrate our contribution to the UN’s Global Goals. Access to affordable energy is a precondition for society to function and to develop in a sustainable way. We are therefore committed to meeting the needs of society by delivering energy in a reliable and sustainable manner. We continuously challenge the way we work and integrate sustainability aspects in everything we do.

Environmental policy

We are committed to reducing our environmental footprint. We believe continuous improvement of environmental performance in all parts of our operations is a prerequisite for sound business development. Therefore, environmental considerations are part of our daily operations, and our performance builds on the contribution of all our employees. Vattenfall's environmental policy provides the basis for the environmental management system, which is aligned with recognised standards, such as ISO14001 and EMAS.

Human rights policy

We are committed to respecting human rights in our supply chain, operations, and in the communities in which we operate. We systematically identify, assess and manage human rights risks and impacts through due diligence processes and aim to continuously improve these. This is an ongoing journey and will be driven not least by raising awareness of human rights-related issues among our employees and other stakeholders.

Statement on slavery and human trafficking

We have prepared a statement on slavery and human trafficking in accordance with the UK Modern Slavery Act which contains more details on our actions, with a focus on the supply chain. See our page Slavery and human trafficking.

Policies and other information

Read policies and other information about sustainability, the environment and human rights.

Taxes

We regard taxes as an important component to grow in a sustainable, responsible and socially inclusive way. As a business we are subject to taxation in the countries we work in. We strive to pay the correct amount of tax on the profits we earn and in the countries where we create the value that generates those profits. Our Annual and sustainability report contains a separate section about taxes in addition to the tax note in the Financial information.

The Code of Conduct is the basis of our actions

The Code of Conduct and Integrity describes the behaviour Vattenfall expects of its employees and what stakeholders and communities can expect of Vattenfall. The Code of Conduct and Integrity applies to all employees within Vattenfall and to all companies consolidated in the Vattenfall Group. Vattenfall’s Code of conduct and integrity is the baseline for all employees’ decisions. Vattenfall's Code of Conduct covers principles to promote sound and responsible business practices.

Code of Conduct for Suppliers and Partners

Our responsibility and commitment to act sustainably is valid not just within our operations, but extends to our supply chain, our business partners and suppliers, as well. Vattenfall only works with suppliers and partners that commit to doing business according to international sustainability standards, as addressed in our Code of Conduct for Suppliers and Partners. We expect suppliers and partners to apply the minimum standards to their subcontractors and sub-suppliers, and always strive to apply both international and industry best practice.

Codes of conduct

Health and Safety policy

Anna Borg, President and CEO:
"Vattenfall’s ambition is clear: World class Health and Safety is a strategic priority. To achieve this we need to have an environment where safety and well-being are paramount. In building this culture, the responsibility is shared. It's a partnership between Vattenfall and every individual working at, and for, Vattenfall."