Requirements from our largest owner
Tele2’s largest owner, Investment AB Kinnevik (Kinnevik), has set very clear CR requirements covering their expectations as owner. The requirements designed for listed holdings, accompanied with the Control and follow-up section, are valid for Tele2 and the other listed companies within the Kinnevik Group.
Examples of content of the policy includes:
"In Major Listed Holdings, Kinnevik has substantial influence and thus, through its board representation, great ability to ensure that the companies’ operations are conducted in a responsible and ethical manner."
- The management of Kinnevik’s associated companies and subsidiaries must ensure that there are appropriate processes for identifying and managing risks relating to responsible enterprise and for reporting them and the actions taken to each company’s board of directors.
- A fundamental requirement for all companies in which Kinnevik invests is that they comply with local and national legislation in the countries in which they operate. In cases where local legislation is inadequate, the minimum requirement is that the companies comply with OECD’s guidelines for multinational companies.
- Portfolio companies must continuously formulate information about and comply with relevant laws, regulations and international conventions. They must respect human rights, in part by offering safe and healthy working conditions, guaranteeing freedom of assembly and diversity at work and not accepting any form of forced and child labor.
- The portfolio companies must also develop a Supplier Code of Conduct in which the company’s suppliers pledge to act in accordance with the recommendations of the UN’s Global Compact. In cases where the portfolio companies are active in growth countries with inadequate protection for human rights, it is particularly important that the companies promote human rights to increase the standard in the company in question.
- Portfolio companies must establish an environment policy and continuously analyze and improve the impact of their operations on the environment. Environmental work must be followed up continuously and reported to the board of directors.
- Portfolio companies must develop clear guidelines for how issues relating to corruption, bribery and blackmail will be handled. These guidelines must be known to all employees, and employees must be continuously educated and informed of the consequences of the guidelines. These guidelines are particularly significant for companies active in countries where corruption is prevalent, and it is also important that the companies are transparent and communicate how they avoid and work against corruption.
The full Kinnevik's steering documents are publicly available on Kinnevik's home page, see:
Control and Follow up section about integration of CR, policies and reporting:
We work actively to fulfil the high standards expected by our owners. Listening to our stakeholders is a key activity in understanding needs and expectations which will serve as input to our strategy work.