To ensure clear responsibilities and focus, Fiskars Group has a governance model on how sustainability is managed throughout the company.
We believe that a strong sustainability approach is the right thing to do for people and the planet and a prerequisite for future-proofing and growing our business.
To ensure clear responsibilities and focus, we have a governance model in place on how sustainability is managed throughout the company.
While updating our Environmental, Social, Governance (ESG) strategy in 2022, we also updated our sustainability governance model. The group sustainability team has been renamed the Group ESG strategy and management team, to clarify its role. ESG factors are linked to all our decision making and this is supported by our updated governance model.
The Board of Directors (Board) reviews and approves the ESG and sustainability ambition level, commitments, and targets annually. The Board also follows up on progress towards our commitments and targets on a quarterly basis. The Audit Committee has an advisory role regarding ESG strategy and management at Fiskars Group, and reviews progress of the strategy and actions to meet sustainability requirements and proposes items to the Board for approval.
The Fiskars Group Leadership Team (FGLT) reviews and approves the ESG and sustainability approach, commitments, roadmaps, and targets. FGLT ensures the integration of ESG and sustainability into the company’s overall strategy, and owns the targets. Progress and execution of the commitments and targets are followed up on as part of the regular monthly agenda. The Chief Financial Officer & Deputy to the CEO has the overall responsibility to drive the sustainability agenda in the FGLT.
The Group ESG Strategy and Management Team provides central expertise and capabilities on sustainability: spots trends, follows regulatory updates, drives the ESG strategy and creates commitment for sustainability within Fiskars Group. The team supports Business Areas (BAs) and Global Functions with setting BA and Global Function level ESG targets and KPIs, and the organization overall in reaching the ambition level, commitments and targets set by the Board and FGLT. The team also collects and consolidates data from BAs and Global Functions for overall progress reporting.
The ESG Management Team is a cross-functional team that supports the Group ESG strategy and management team through enabling strategic decision-making regarding required BA and Function level choices on sustainability topics, e.g., prioritization and roadmaps. The team aligns and prioritizes activities for the Fiskars Group sustainability agenda, reviews roadmaps and performance against our commitments and Group level targets.
Business Areas and Global Functions integrate the commitments and targets into their operations and respective business and investments plans. BAs and Global Functions are responsible for setting their own sub-targets to support achieving the higher-level Group targets. BAs and Global Functions follow-up on their own progress towards commitments, targets, and roadmaps.
To learn more about our sustainability commitments, targets, and actions, please see our Sustainability Report 2023.