Vestum's work is characterized by honesty and openness, but also high integrity and in accordance with all regulations. This is crucial to maintaining the trust of customers, employees and the public.
Healthy competition and reliability are crucial for Vestum's subsidiaries to maintain long term relationships with their customers. Taking unfair or illegal measures restricting competition, having contact with unethical business partners and acting contrary to the interests of the assignment or the company damages the reputation and constitutes a business risk. This also applies to suspicions of corruption which may arise in the relationship with customers as well as with suppliers and subcontractors.
Vestum has zero tolerance for bribery, and fully respects customers' requests to completely refrain from gifts, lunches and dinners. In cases where representation occurs, such as lunches and more, there must be no doubt about its commercial legitimacy. The acquisition model with a mutual focus on values and co-ownership in Vestum strengthens the group-wide interest in business ethics. Our positions regarding, among other things, ethics and anti-corruption are set out in the code of conduct and apply to the entire group. An insider policy specifies the handling of information affecting the share price. Vestum's whistleblower system gives both employees and outsiders the opportunity to anonymously report concerns about deviations from Vestum's ethical principles and other irregularities that could harm individuals, Vestum, society or the environment via an encrypted communication channel. The reporter does not need to have proof of his och her suspicion, but all reports must be made in good faith. The reports are investigated and then appropriate measures are taken.
In 2021, a conflict of interest was investigated within one of the subsidiaries, otherwise no incidents of corruption or significant rule violations were identified.
Together, our subsidiaries have many suppliers. The starting point is that the same demands placed on Vestum are also placed on suppliers and subcontractors so that business ethics are maintained and products and services purchased are produced under environmentally and socially responsible conditions. To ensure sustainable deliveries, many subsidiaries sign guarantee agreements with central subcontractors in connection with major projects and tenders.
It is fundamental that confidentiality and integrity are always maintained when handling customer and personal data. Vestum guarantees correct, legal and fair handling, such as compliance with the GDPR. Against the background of the increased data breaches at authorities and large companies, work is being done to support the subsidiaries in this matter.
Case study - Arctic Infra
A culture of accuracy and sustainability
The Luleå company Arctic Infra, acquired in September 2021, builds infrastructure for customers in Norrbotten and Västerbotten. The business started in 2019 and in a short time has been trusted to work with customers such as the Swedish Transport Administration, Gällivare municipality, LKAB and Boliden Mineral.
CEO Mikael Johansson comments:
What role does sustainability play in Arctic's growth?
- Arctic wants to be involved in shaping tomorrow's communities through new road construction and facilities in Norrland. Then we also have to act like a modern company, where sustainability is high on the agenda.
- Arctic focused early on quality in the environment and work environment, which are important issues in our world. With us, work starts with your own skills and giving employees the opportunity to develop. We have also dared to create a culture of accuracy where all administration, from non-conformity reporting to workplace staffing, is managed to the letter. No one must toll rules or believe that dirty means strengthen Arctic's competitiveness. We work hard to maintain the trust we once received from customers.
How do customers notice it?
- We always deliver what we have promised. In our workplaces there is order and order. Everyone complies with safety regulations, works under contractual conditions and carries out the job as we have described
them for the customers. Material requirements are met, waste management is managed and applicable environmental requirements and laws are taken into account.
At the same time, Arctic takes our own responsibility by, for example, preventing pollution, choosing green electricity and following the development of environmental vehicles in order to be able to upgrade the vehicle fleet in the long term.
What development areas are there?
- After each completed project, we do follow-ups to learn lessons and see what can be developed.
- ISO certification of our work processes is currently underway. We have also started more structured work to map Arctic's contribution to the 17 global development goals. In the long term, Arctic will have a clear sustainability strategy as part of our quality work.