GOVERNANCE

The Board of Directors plays a pivotal role in guiding FORCIT’s strategic direction and governance. Comprised of experienced professionals, the Board ensures compliance with regulatory requirements and oversees business operations in alignment with FORCIT’s long-term vision and ethical principles.

FORCIT has a comprehensive Business Conduct Policy that governs daily operations and ensures adherence to ethical standards. This policy outlines expected behaviors for employees, management, and stakeholders, emphasizing integrity, transparency, and compliance with all applicable laws and regulations.

FORCIT conducts an annual Personnel Survey to assess employee engagement, workplace satisfaction, and adherence to business conduct standards. The survey results are used to refine policies, improve organizational culture, and ensure that business operations align with our values and commitments.

Our commitment to business integrity is the FORCIT Compliance Line Notification Channel. Via this channel, the employee can report any suspected breaches or unethical conduct. The channel serves both internal and external stakeholders.

The promise to protect whistleblowers is carried out by providing a system in use that is maintained by the Finland Chamber of Commerce. The company has further provided a guide on how to use the whistleblower channel, where the user anonymity handling is also described.

FORCIT has implemented a standardized operating procedure to ensure transparency and accountability in business conduct. This procedure defines clear steps for reporting, investigating, and addressing potential compliance issues, reinforcing our commitment to ethical business practices and corporate responsibility.

Training on business conduct is an integrated part of our e-learning platform for new employees. As part of the onboarding process new employees are required to participate in the e-learning course including learning on relevant business conduct topics.

At FORCIT, sustainability is ingrained in our core values and business practices. We recognize the urgent need to address environmental challenges, uphold social responsibility, and maintain high standards of corporate governance. Our commitment to sustainability extends beyond mere compliance; it is a fundamental aspect of our strategy for long-term success and positive societal impact. In line with the mandates of the Norwegian Transparency Act and OECD guidelines, each European company must analyze risk factors and audit the supply chain regularly and report the results.

FORCIT has made a theoretical desktop risk assessment of the supply chain for each supplier based on material hazards, volumes, country of origin, and transportation method. On-site audits of major raw material suppliers, based on supply volumes, transportation routes, and Global Rights Index, are conducted by select teams from sustainability, supply, R&D, and production, to assess environmental, social, and governance (ESG) performance, ensuring transparency and accountability in our operations. Furthermore, with the aid of external partners, FORCIT has mapped the transport of raw materials, and its impact on the overall CO2 footprint. During this process some suppliers have submitted EPD and PCF documentation, that aids in correct calculation of the total carbon footprint.

The first step in our Sustainability Audit process is to clearly define the objectives and scope of the audit. This involves identifying key ESG metrics, setting targets aligned with international standards and best practices, and ensuring stakeholder engagement. We gather relevant documentation, including policies, procedures, and performance data, to assess our current sustainability practices and identify areas for improvement.

A multidisciplinary audit team comprising experts from the relevant business areas, is assembled to conduct the audit. This team ensures diverse perspectives and expertise are brought to the assessment process. During the on-site audit comprehensive data collection is conducted across all relevant aspects of our operations, including but not limited to energy consumption, emissions, waste management, supply chain practices, human rights and employee welfare, and community engagement.

Based on the findings of the Sustainability Audit, we develop action plans with specific goals, targets, and timelines to address areas of improvement and capitalize on opportunities. Sustainability considerations are integrated into our overall business strategy, decision-making processes, and performance management systems to drive continuous improvement and value creation. By introducing renewable raw materials, like regenerated oils in our production, FORCIT will be able to introduce greener products on the market.