We strive for continuous improvement and transparency in our sustainability governance
Outokumpu is strongly committed to legal compliance and an ethical way of conducting business. Outokumpu’s Code of Conduct sets out these ethical standards and provides guidelines for a common way of working with the aim of ensuring that all Outokumpu employees live up to Outokumpu’s ethical standards.
The objective of Outokumpu’s compliance program is to ensure that Outokumpu and its employees comply with laws, regulations as well as Outokumpu’s internal policies and instructions. The program also aims to globally mitigate compliance risks for the corporation as well as for each individual employee by a set of preventive and supervisory measures.
Raising awareness of and training on the Code of Conduct and its topics are central elements of the program. Outokumpu’s Code of Conduct sets zero tolerance for corrupt practices and requires compliance with applicable competition laws.
Outokumpu constantly develops its compliance program with special efforts in the defined key focus areas: competition law compliance, anti-corruption, trade compliance, data protection and corporate governance. Compliance risks, including risks related to corruption, are assessed and reviewed annually and described in the Corporate Governance statement and Key risks section in our Annual report.
Outokumpu has an externally operated communication channel for reporting serious misconduct confidentially and, if desired, anonymously. The SpeakUp system is available both internally and for external stakeholders.
ESG Steering
The Board of Directors decides on Outokumpu’s strategy and the long-term targets of Outokumpu Group, such as its sustainability targets and strategy. The Board of Directors also monitors their implementation and charges the President and CEO with formulating and carrying out the necessary practices and procedures.
The Outokumpu Leadership Team acts as a reporting and decision-making forum for steering and managing Outokumpu’s corporate agenda, including its sustainability matters, while taking into account impacts, risks and opportunities. The Outokumpu Leadership Team also approves transition and action plans related to sustainability. Outokumpu’s top management regularly reviews progress regarding material impacts, risks and opportunities in various forums.
To further ensure its continued progress within sustainability matters and to evaluate its sustainability strategy, Outokumpu has founded an internal Environment, Social, and Governance (ESG) Steering Group. The ESG Steering Group also monitors, manages and oversees impacts, risk and opportunities. The progress in set sustainability targets is reported to the Outokumpu Leadership Team and the Board of Directors by the Vice President – Sustainability.
In 2021–2025, Outokumpu also had an ESG Advisory Council to support in setting the company's ambition and roadmap in sustainability.