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Sustainability Management

Sampo plc’s Board of Directors is responsible for and has the ultimate oversight of group-level corporate responsibility, containing the entire range of environmental (incl. climate change), social, and governance matters.

The board also validates the corporate responsibility report annually. Corporate responsibility related questions are a regular part of the performance evaluation of Sampo plc’s Board of Directors, 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 corporate responsibility reporting and activities. To develop and enhance the Board of Directors and its Audit Committee’s knowledge of corporate responsibility at Sampo, to create discussion, and to receive feedback to support the work, corporate responsibility is also regularly on the agenda of the Audit Committee meetings during each year. 

The Group Chief Financial Officer (CFO) directs the Corporate Responsibility Unit and operates as the Chairman of the Group’ Corporate Responsibility Steering Group. The steering group provides management perspective, sets direction for corporate responsibility work, and approves the group-level corporate responsibility program. It also acts as a platform for information exchange between the Group companies. The members of the steering group are: Group CFO (chairman), Group CIO, Group CRO, Group Legal Counsel (secretary), Head of Investor Relations and Group Communication, Head of Corporate Responsibility, If's CFO, Mandatum Life's CEO, Topdanmark's Head of Secretariat (Strategy and CSR) and Hastings’ Director of Business Services. Reporting on each steering group meeting is provided to the Group CEO and President.

The Corporate Responsibility Unit, led by the Head of Corporate Responsibility, is responsible for the development and coordination of corporate responsibility at group level. The unit prepares the group level corporate responsibility program and sets schedules and requests and provides group-level guidance to the subsidiaries. The aim of the corporate responsibility program is to direct the corporate responsibility activities of the Group toward the most material topics in a structured manner. It provides a group-level approach, objectives, and targets for corporate responsibility. The program applies to the entire Sampo Group, including the subsidiaries If, Topdanmark, and Mandatum Life.

At each subsidiary, various business areas, operational departments, and units are actively involved in the Group’s corporate responsibility endeavors. Group-level corporate responsibility reporting is largely based on information provided by the subsidiary companies according to formats and schedules defined by the Group’s Corporate Responsibility Unit. In addition to group-level corporate responsibility governance, it is important to note that each Group company has its own internal governance structures. 

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Sustainability Programme and Materiality Analysis

Sampo Group has a sustainability programme, which drives group-level sustainability work. The programme consists of strategic sustainability themes and under each theme the most material sustainability topics have been identified using materiality analysis. The programme also links the sustainability work to the business operations of the Group companies, as well as to the UN Sustainable Development Goals.

Representatives from all Sampo Group companies have been involved in drafting the programme and analysing the material topics. In addition, regulatory requirements regarding current and future sustainability reporting, industry best practices, relevant reporting frameworks (e.g., the GRI Standards, the TCFD), and the views of various ESG rating agencies have been taken into account.

The sustainability programme is intended as a common tool and guideline for the Group companies’ sustainability organisations. The sustainability programme evolves, as common projects are completed and targets reached, or new priorities emerge. Every three years the program undergoes a bigger update.

All themes and topics of Sampo Group’s current sustainability program are presented in the infographic Strategic sustainability themes and objectives. There is also a more detailed internal version of the programme available. In addition to the elements shown in the infographic, the internal version includes detailed activities under each theme, targets for the activities, an overall timetable, and a division of responsibilities between Sampo plc and the Group companies.

Strategic sustainability themes and objectives, Sampo Group

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Updated 21 Dec 2021