AddLife from a sustainability perspective
AddLife’s vision is to improve people's lives by being a leading, value-creating player in Life Science. We embrace responsible business practices, where sustainability is an integral part of our business value. We take our responsibility for sustainability throughout the supply chain as employer, producer and distributor, as well as in our role as a market participant.
The Life Science industry is characterised by high demands for product safety and regulatory compliance. In Europe, medical device products are regulated by EU directives and regulations. Products must be CE-certified before they can be marketed in Europe. For AddLife, sustainability is a natural part of business value. Sustainability efforts ensure the Group's long-term earning capacity, growth, social responsibility and competitiveness. Ultimate responsibility for AddLife’s long-term overarching sustainability targets rests with the Group’s board of directors, through Group management. The subsidiaries focus on business value and are responsible for carrying out the sustainability efforts. These activities are carried out in accordance with the Group’s fundamental requirements for growth, profitability and sustainable development. The code of conduct and the core values simplicity, accountability, engagement and innovation form the foundation based on which AddLife employees act in their daily work. The Group’s strong corporate culture is a contributing factor to the perception of sustainability as a natural part of the job.
In addition to financial requirements and guidelines, business is also conducted with high standards regarding ethics, morality and integrity. At AddLife we believe that business is generated by people and good relationships.
Sustainable supply chain
We work with global suppliers whose production facilities are located all over the world. Our ambition is to take responsibility for the entire supply chain from production to end customer. In those cases where we serve as distributor, which corresponds with about 70% of sales, we only have an indirect impact on the environment. Then it is important for us to set clear requirements for our suppliers. Thanks to our well-established relationships with our suppliers, we also have the opportunity to place high demands on materials and sustainable production at every level. In those cases where we act as producer, which corresponds with about 30% of sales, we can control the supply chain and choice of material in detail. The subsidiaries are responsible for obtaining and delivering the products they sell. Consequently, efficient logistics and warehouse management are essential, which helps both to reduce environmental impact and increase profitability.
The dedication of each employee makes AddLife’s successes possible. We place great emphasis on offering all employees the opportunity to grow, to thrive and to be challenged. As employers, we take responsibility for creating a safe and positive work environment. We want to attract and retain employees who support our core values and our code of conduct, and who have the right skills to grow our business. Our employees are continually trained in our corporate culture and have the opportunity to hone their business skills through the courses offered at our business school, AddLife Academy.
As a market player, it is important for us to take ethical responsibility for our business. All of our employees should know our code of conduct and we expect our suppliers to respect internationally recognised principles regarding human rights, anti-corruption and workplace health and safety. Compliance with the code of conduct is evaluated in ongoing contractual relationships.
SUSTAINABILITY REPORT 2020
AddLife has prepared a sustainability report for the 2020 financial year that covers the parent company AddLife AB (publ) company ID no. 556995-8126 and its 62 subsidiaries. The board of directors approved the sustainability report at the same time that it signed the 2020 annual report. No standard template for sustainability reporting has been applied in full. The purpose of the sustainability report is to provide an overarching description of AddLife’s business from the perspective of sustainability and to inform about the sustainability aspects that are necessary to understand the company’s development, position, and performance, as well as the consequences of its operations. AddLife’s sustainability report is integrated in part into the annual report. AddLife’s business model and Strategy for sustainable growth for sustainable growth can be found on pages 6-10 in the printed annual report. Pages 6-10 and 24-34 comprise AddLife's statutory sustainability report.