Our Role as an Active Owner

Driving an ambitious GRC and sustainability agenda in our investee companies is central in Kinnevik’s role as an active owner. We believe operating in a responsible manner is the key to achieving long-term profitable growth.

The GRC Standards

For Kinnevik, sustainability is about creating long-term shareholder and social value by building well governing companies that contribute positively to society. In 2014, Kinnevik initiated the development of a structured framework to define GRC and sustainability best practices for our companies, to measure performance and to set priorities and roadmaps. Kinnevik’s Governance, Risk and Compliance (‘GRC’) Standards were developed based on stakeholder dialogues, peer benchmarking and industry best practice.

The GRC Standards comprise 62 standards divided into six sections and weighted according to their importance to our stakeholders, as well as their relevance to our companies’ performance. An overview of the GRC Standards is provided in the table below.




Organisation and structure
  • Structure of responsibilities
  • Agenda of the Board
  • Management incentives
  • Membership and committees of the Board
  • Code of Conduct
  • Whistleblowing system
Risk management
  • Policy and framework
  • Organisation
  • Business ethics and anti-corruption
  • Privacy and data protection
  • Anti-trust/competition policy
Corporate responsibility
  • Supply chain compliance
  • Employee development, health, safety and wellbeing
  • Human rights
  • Environment
Information security
  • Business continuity


Outcome of the 2017 GRC assessment

The assessment for 2017 included 18 companies, 5 public and 13 private, corresponding to ca 98% of Kinnevik’s portfolio value. A key reflection from this year’s assessment is that most companies have made good progress in developing sound GRC organisations and structures. For example, Zalando has published a Modern Day Slavery Act Statement that shows how they work across their supply chain to protect human rights. BIMA has signed an AntiCorruption Memorandum of Understanding together with other multinational companies operating in Cambodia to fight corruption in the country. GFG has issued guidelines to its operating entities on the responsible recruitment and employment of migrant labourers.

From our Sustainability Report 2017

Active Ownership (pdf)