The Ten Principles of the UN Global Compact in the areas of human rights, labour, the environment and anticorruption were formally adopted in 2011. In our Corporate Responsibility Report 2015 we describe the actions taken to integrate the Global Compact and its principles into the business strategy, culture and daily operations of Kinnevik.
For Kinnevik, Corporate Responsibility (CR), including social and environmental responsibility and business ethics, is closely interlinked with the governance, risk management and compliance (GRC) structures in place within Kinnevik's investee companies. Kinnevik believes that companies with robust GRC structures also have the capability to ensure that the business is conducted in a responsible and ethical manner, and will outperform their peers in the long term. GRC performance is dependent on the tone at the top and commitment from Shareholders, Board of Directors and Management. Through sound investments and active ownership Kinnevik can have a positive impact on society, as well as on Kinnevik's net asset value growth. Showing consideration for stakeholders by working actively with GRC and CR related issues is essential for Kinnevik and a prerequisite for high and sustained profitability. Therefore, Kinnevik's vision for its investee companies is to integrate GRC within the companies' strategies and strive to achieve best in class operating standards to create long term value in a sustainable manner.
To support the integration of the GRC agenda, Kinnevik established a dedicated GRC function in 2014. The purpose of the function is to oversee the development of the GRC environment within Kinnevik's investment portfolio. Within each investee company the Kinnevik GRC team works with five focus areas; Governance, Risk management, Compliance, Corporate responsibility and Cyber security.