Annual Report 2014

GRI content index

The report covers the financial year 2014. The report covers FII's own operations, within the limits set by the company as a legal entity. As from 17 December 2013 Finnish Industry Investment has a majority holding (66.4%) in the capital stock of Aker Arctic Technology Oy (Aker Arctic). Aker Arctic’s corporate responsibility is addressed in the Direct Investments section of the Corporate Responsibility Report. 

The report describes Industry Investment’s responsible investment principles and procedures at interfaces with investee organisations. FII's goal is to promote responsibility in the company’s own activities as well as, insofar as is practical, in portfolio companies. FII has published the Corporate Responsibility Report since 2011 and the report is published annually. Alongside with corporate responsibility reporting FII publishes annually also the Corporate Governance Statement (in Finnish).

In its corporate responsibility reporting, FII uses the reporting model that the Finnish government resolution of 3rd November 2011 recommends for unlisted government-owned companies. The structure of the report is based on the GRI (Global Reporting Initiative) reporting framework and also, to the extent applicable, the indicators specified in GRI's Financial Services Sector Supplement (FSSS). The report is also based on the GRI (Global Reporting Initiative) G3 Level C reporting framework and also, to the extent applicable, the indicators specified in GRI’s Financial Services Sector Supplement (FSSS). The economic performance indicators in the report are derived from audited information. 

The Global Reporting Initiative (GRI) produces a comprehensive Sustainability Reporting Framework that is widely used around the world. The Framework, including the Sustainability Reporting Guidelines, sets out the Principles and Standard Disclosures organizations can use to report their economic, environmental, and social performance and impacts. GRI is committed to continuously improving and increasing the use of the Framework.

Link Comment
1. Strategy and analysis
1.1 CEO's Review CEO's Review
1.2 Description of key impacts, risks, and opportunities About us
Material aspects for responsibility
2. Organizational Profile
2.1-2.9 Basic information about Industry Investment About us
Economic impact
Social responsibility
Accounting principles
2.10 Awards received in the reporting period No awards
3. Report Parameters
3.1-3.8 Report profile, scope and boundary GRI content index
Material aspects for responsibility
3.10. Explanation of the effect of any re-statements
of information provided in earlier reports, and
the reasons for such re-statement
Economic impact
GRI content index
3.12. GRI content index GRI content index
4. Governance, Commitments & Engagement
4.1-4.4 Governance Governance
Corporate Governance Statement (In Finnish)
Internal procedures
4.14-4.16 Stakeholder engagement Material aspects for responsibility
Performance indicators
Economic responsibility
Disclosure on Management Approach Economic impact and responsibility
Internal procedures
EC1 Economic value generated and distributed Economic impact and responsibility
EC4 Significant financial assistance received from government Economic impact and responsibility
EC9 Significant indirect economic impacts Impact
Environmental responsibility
Disclosure on Management Approach Internal procedures
Responsible investment
EN26 Initiatives to mitigate environmental impacts of products and services Renewing economic structures Partially
Internal procedures
Social responsibility
Disclosure on Management Approach
Labor Practices & Decent Work
LA1 Total workforce by employment type, contract, and gender Social responsibility
LA2 Employee turnover Social responsibility
LA7 Rates of injury and absenteeism Social responsibility
LA10 Average hours of training Social responsibility Partially
LA11 Programs for skills management and lifelong learning Social responsibility
LA12 Percentage of employees receiving regular performance and career development reviews Social responsibility
LA13 Composition of governance bodies and breakdown of employees Social responsibility
SO1 Local community engagement and development programs Impact
Organization’s anti-corruption policies and procedures Internal procedures
Lobbying Material aspects for responsibility Partially
Compliance Internal procedures
SO6 Total value of financial and in-kind contributions to political parties, politicians, and related institutions by country No contributions to political parties, politicians nor related institutions
SO7 Total number of legal actions for anticompetitive behavior, anti-trust, and monopoly practices and their outcomes No legal actions
Product responsibility
PR5 Customer satisfaction Material aspects for responsibility
Financial Services Sector Supplement (FSSS)
Management approach to financial responsibility
FS1 Policies with specific environmental and social components applied to business lines Responsibility
Responsible investment
FS2 Procedures for assessing and screening environmental and social risks in business lines Internal procedures
FS 3 Processes for monitoring clients’ implementation of and compliance with environmental and social requirements included in agreements or transactions. Responsibility
Responsible investment
FS4 Process(es) for improving staff competency to implement the environmental and social policies and procedures as applied to business lines. Social responsibility
Internal procedures
FS5 Interactions with clients/investees/business partners regarding environmental and social risks and opportunities Material aspects for responsibility
Responsible investment
Product portfolio
FS6 Product portfolio breakdown Investments
FS8 Monetary value of products and services designed to deliver a specific environmental benefit Impact
Active ownership
FS10 Percentage and number of companies held in the institution’s portfolio with which the reporting organisation has interacted on environmental or social issues Responsible investment
Material aspects for responsibility
FS11 Assets subject to positive and negative screening Responsible investment

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