Sustainability

Sustainability

For us sustainability means managing a responsible business that contributes to a cleaner environment, a less wasteful economy and creates long-term value for all our stakeholders. We see no long-term trade-off between sustainability and profitability - rather the contrary. The world needs sustainable and environmentally friendly transport solutions and leading that trend will be a competitive advantage for us. We have identified three focus areas that we believe are most relevant for our operations and where we can make the biggest difference.

Minimise resource waste and environmental impact

A large part of the existing machine population in Russia/CIS consists of old machines with engines of inferior emission standards and suboptimal fuel-efficiency. By replacing these machines with new, efficient ones and by providing service, technology know-how and training that allow for the machines to be operated with maximum efficiency, we contribute to a better environment.

We also contribute towards a lower footprint both in our operations and that of our customers’ through our machine and component rebuild centre in Yekaterinburg. The centre repairs used machines, rebuilds new components and utilises metal and parts from machines that cannot be restored to working capacity. In 2020, we rebuilt three articulated haulers, 15 engines, 19 gearboxes and 45 other components.

Our efforts to reduce the impact of our operations also extends to our choice of partners. Since 2015, the transport of our machines in Russia/CIS has been outsourced to an ISO 14001 certified logistics company and whenever possible, heavy transports are done by rail to minimize environmental impact.

Being a good employer

We continually strive to be an attractive, inspiring and high-performing workplace with a culture based on our values and vision. We do this by providing a safe work environment, training and development, equal opportunities and fair salaries.

At Ferronordic we respect the rights of all employees to join an association to represent their interests as employees, to organise and to bargain collectively or individually. We also make significant investments in the training and development and provided around 50,000 hours of training to our staff in 2020.

We also strive to increase the diversity of our workforce with a number of proactive measures. Some of these measures are aimed at increasing the number of women in our industry. The proportion of women in management positions at Ferronordic was around 17% in 2020. Our aim is to increase that figure going forward.

Safety is at the heart of our operations. In 2020 we provided 4,282 hours in health- and safety training. In 2019 we obtained the ISO 45001 certification which is an international standard for occupational health and safety.

Employing good corporate governance

We follow the Swedish Corporate Governance Code in addition to statutory legislation and have a zero-tolerance policy against corruption. We invest in resources in internal governance; from approval hierarchies and budget systems, to policies and procedures and corporate culture. We continuously promote responsibility, transparency and accountability in our organisation. In markets where corruption is common, our anti-corruption work and strong governance principles raise trust in our company and the brands we represent.

Read more about Ferronordic’s sustainability work in our Sustainability Report 2020