Sound governance structures
Maintaining sound corporate governance structures including risk management and compliance is fundamental to building robust and resilient companies. In addition, being a financially strong company is imperative in Kinnevik’s role as an active owner, enabling us to efficiently drive our sustainability strategy
Implementing Sound Governance Structures in Our Portfolio
Many of our companies are in the early stages of their operational and sustainability development, and implementing sound business conduct structures is central. This work is part of a broader effort to create holistic and bespoke ESG strategies to enable sustainable growth.
During 2022, we have worked together with the Boards and management teams of our nine new portfolio companies to set up more structured processes to improve governance and controls. We have supported several companies in conducting a materiality assessment to determine material topics and set a baseline to build from. We also continued to work with all our existing companies to improve their internal control environment, risk management, compliance frameworks and cyber security.
Governance Structures at Kinnevik
Kinnevik’s Board of Directors is responsible for our overall strategy, including how sustainability is an integrated part of our value creation, and is well informed about Kinnevik’s policies and procedures. Further, the Board of Directors is specifically responsible for identifying risks and opportunities related to sustainability, including climate change, that may impact Kinnevik, our portfolio and strategy, and for defining appropriate guidelines to govern Kinnevik’s conduct in society. This is embedded in the work and delegation procedures of the Board of Directors.
All Kinnevik employees’ individual annual objectives, which form the basis for their short-term incentives, are derived from our overarching corporate targets which include targets related to sustainability. For example, members of the investment team have individual annual objectives tied to driving climate and DEI (diversity, equity and inclusion) engagement in their respective portfolio companies.
Overview of Kinnevik’s Governance and Sustainability Organisation
Code of Conduct
All employees, representatives of Kinnevik and third parties engaged with Kinnevik are expected to fully comply with our Code of Conduct. Kinnevik has an onboarding process for new employees that introduces them to the Code of Conduct, which includes anti-corruption, anti-bribery and business ethics, and to other key policies and procedures. In addition, Kinnevik conducts mandatory annual Code of Conduct training for all employees. The Code of Conduct is shared with all relevant suppliers on a yearly basis.
In the Sustainability Policy, we outline Kinnevik’s expectations in relation to our investee companies’ sustainability performance.
Kinnevik’s policy is to actively engage in open dialogues with local governments, authorities and key policy makers. The purpose of such dialogues is to contribute to and improve the policy landscape and society as a whole. Among other things, Kinnevik participates in public consultations in areas of importance to Kinnevik and our portfolio companies.
Kinnevik works actively with responsible tax and Kinnevik shall maintain the highest standards of tax compliance and all tax affairs shall be managed in full compliance with local law and international guidelines.
Diverisity & Inclusion
Kinnevik’s policies, processes and rules relating to diversity and inclusion are outlined in Kinnevik’s corporate policies, including the Employee Handbook, Talent Management Policy and Work Environment Handbook. Read more about the key aspects of diversity & inclusion at Kinnevik