Sustainability
Governance
AddLife has a shared group approach regarding governance through our common values and culture.
Our business model encourages a mixed model of central and local management of sustainability risks and opportunities, often by policies and management systems where effectiveness is monitored through different activities.
AddLife is less exposed to non-financial risks in product development and production due to low share of own manufacturing. Still, the group faces risks in managing sourcing of suppliers and their operations. We also have, to some extent liabilities for the products put on the market.
Regarding environmental risks, AddLife has low direct upstream impact and manage the indirect ones through dialogue, influence and choice of suppliers. Logistics is a prioritised area for future assessment of indirect impact.
Our operations are subject to external review and monitoring by the Swedish Financial Supervisory Authority and Nasdaq Stockholm.
| Focus area | Pillar | Risk covered | Policy & management systems |
Monitoring effectiveness |
|
|---|---|---|---|---|---|
| Environmental risks in operations |
Responsible producer and distributor |
- Emissions - Hazardous waste - Packaging |
- Local environmental policies - Local sustainability strategies - Green car policy (to be implemented) - ISO 14001 (26% of operational companies) |
- Central sustainability report system (to be implemented) |
|
| Product safety | Responsible producer and distributor |
-Incorrect instrument results - Incorrect product use, impacting patient or professionals health - Incorrect or lack of required product certifications |
- ISO 9001 - ISO 13485 72% of operating companies have one or both - Certifications (CE, MDR, IVDR) |
- System of Field Safety Notices - Field Safety Corrective Actions - Whistleblower function |
|
| Product lifecycle | Responsible producer and distributor |
- Single-use products - Waste - Premature disposal of instruments and products |
- Instrument maintenance extends product life span - Local reuse and recycling procedures -Local refurbishment business |
n/a | |
| Occupational health and safety | Responsible employer |
- Employee health, safety and well-being - Workplace accidents - Psycho-social work environment |
- ISO 45001 - Occupational health and safety procedures - Evaluation of risks |
- Annual employee survey - External audits - Whistleblower function |
|
| Talent management | Responsible employer |
- Recruitment and retention |
- Incentive programs - Annual appraisal meeting (79% of operating companies and 70% of all employees) - AddLife Academy |
- Company target process - Annual employee survey - Central representation in subsidiary boards |
|
| Ethical business practices |
Responsible market participant |
- Human and labor rights - Discrimination - Corruption and bribery by employees - Third-party misconduct - Export controls/ Trade sanctions |
- Code of Conduct - Supplier and customer agreements - Insider trading policy - Local policies and regulations - Insider log |
- Whistleblower function - Supplier evaluations - External audits - Central review: Companies' internal control - M&A: DD and target background check |
|
| Long-term growth | Responsible market participant |
- Short term focus overrules strategy, vision and long term profitability |
- Dividend policy - Company target processes |
- Sustainability report - Materiality assessment and stakeholder dialogue |