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Sustainability Management
Sampo Group is committed to developing the sustainability of the Group, as well as the related reporting, indicators, and targets. This is in the interests of, and expected by, the Group’s internal and external stakeholders.
Sampo plc’s Board of Directors is responsible for and has the ultimate oversight of group-level sustainability, containing the entire range of environmental (incl. climate change), social, and governance matters. The Board also approves the sustainability report annually. Sustainability-related questions are included in the performance evaluation of Sampo plc’s Board of Directors in order to increase the board-level focus on these matters. The self-assessment is independent and completed annually. The board has assigned its Audit Committee to monitor Sampo Group’s sustainability reporting and activities. Sustainability is also regularly on the agenda of the Audit Committee meetings.
The Group Chief Financial Officer (CFO), who is a member of the Sampo Group Executive Committee, directs Sampo plc’s Sustainability unit. The CFO also ensures that adequate reporting on sustainability matters is provided to the Group CEO.
The Sustainability unit of Sampo plc, led by the Head of Sustainability, is responsible for the development and coordination of sustainability at group level. The unit prepares the group level sustainability reporting and the sustainability programme, which sets the direction for the Group’s sustainability work. In addition, the unit sets schedules and requests, provides group-level guidance to the subsidiaries, and organises regular sustainability meetings.
At each subsidiary, various business areas, operational departments, and units are actively involved in the Group’s sustainability endeavours and reporting. Group-level sustainability reporting is largely based on information provided by the subsidiary companies according to formats and schedules defined by Sampo plc’s Sustainability unit. Each subsidiary is responsible for its respective reporting to the parent company to ensure correctness of information. In addition to group-level sustainability governance, each Group company has its own internal governance structures.
Information on If, Topdanmark, Hastings, and Mandatum’s sustainability governance can be found in their respective reporting.
Sustainability Organization and Reporting Structure
Value creation model
The value creation model illustrates how Sampo plc and its subsidiaries use resources in the form of financial capital, human capital, manufactured capital and natural capital in their operations to create value for their customers, employees, shareholders, and other stakeholders.
The created value is further categorized into social, economic, and environmental impacts. Sampo Group’s strengths lie in its financial stability, motivated employees, and strong processes through which it offers safety and well-being in society and helps customers manage and reduce risks. Good governance structures, compliance with international standards, and good relationships with all stakeholders are at the core of the Group’s operations.
The value creation model is based on the International Integrated Reporting Council’s (IIRC) framework.
The value creation model (pdf)