POSITIVE DRIVING FORCE – LOCALLY AND GLOBALLY
Stena’s ambition is to have a positive impact on both the value chain and society in general. The various Stena companies fulfil important needs in society, such as transport, homes, electricity generation and technical development, and with commodities such as kitchens, bathrooms, storage systems and garden products.
IMPORTANT FUNCTIONS IN SOCIETY
Stena continuously strives to be an active and dedicated corporate citizen that contributes to positive social development and sustainable activities in its areas of operation.
Stena Property provides safe and secure homes of good quality for many families and takes a well-developed, holistic approach to sustainability. The guiding principle is to contribute actively to society’s development, and not just be a manager of properties.
For Stena Property, there are financial risks related to social instability, alienation and economic vulnerability among tenants without a stable income. Stena Property handles these risks on the basis of well-functioning cooperation with local actors, in its own Relationship Management and employment promotion initiatives, as practical training positions, and summer positions for young people.
Stena is developing the logistics area, with Stena serving as an operator of intermodal solutions and land-based transport.
Despite the pandemic in 2020, Stena Line succeeded in maintaining its activities in the face of lockdowns and closed borders (for private passengers). The ferry routes played a vital role in maintaining goods flows within Europe, particularly in the North Sea and the Irish Sea. One of the most important goods deliveries consigned by Stena Line during the year was the transport of Covid-19 vaccines between the Netherlands and the UK.
BUSINESS ETHICS AND REGULATORY COMPLIANCE
Stena contributes to the development and resilience of the local communities in which it is active by offering employment and generating tax revenue. There is great emphasis on creating trust between Stena and a wider group of stakeholders through a transparent, ongoing dialogue.
Stena has a sound reputation as a company that with honesty and integrity always promotes good business practice. Stena advocates open markets and fair competition and do not engage in discussions or agreements with competitors on price-fixing, market-sharing or any other activities that violate the rules of fair competition. Further training initiatives are planned for the personnel concerned, who are active in sectors with few players, in order to strengthen knowledge and awareness of this issue.
Within all business areas there is a potential risk of bribes and inappropriate gifts being offered. Stena works actively to handle these issues in its business relations. Stena’s procurement regulations and regular internal controls also contribute to minimising this risk. Through the company’s whistleblower function, Stena’s employees can report any suspected irregularities.
Within Stena’s shipping activities, there are risks related to “facilitation payments”, which are payments to third parties to secure a contract or service. Such payments might e.g. be required to pass a strait, berth in a port, or unload freight. Stena Bulk is therefore an active member of the Maritime Anti Corruption (MACN) network, which is a sector organisation to eliminate corruption in the shipping industry.
HUMAN RIGHTS AND SUSTAINABLE VALUE CHAINS
Today, there are greater expectations than ever before that companies should act to protect human rights. Requirements from investors and lenders, customers and employees, have made it clear that companies need to take greater responsibility in every stage of the value chain.
Stena supports and respects the UN’s Universal Declaration of Human Rights. This includes zero tolerance of any form of forced labour and child labour, or use of illegal manpower for the production of goods or services, within Stena or in the activities of suppliers or business partners.
One risk in every area of activity is that employees in the supply chain do not have fair working conditions, so that issues concerning human rights, working terms and discrimination are not fully addressed.
For Stena Line, there are also risks related to refugee smuggling and human trafficking, as well as smuggling of stolen goods, weapons and drugs onboard vessels. Stena Line works continuously together with authorities in Sweden and in other countries to strengthen its procedures and train the affected personnel, in order to avoid such incidents.
In Stena’s shipping activities there is a risk of child labour and forced labour among suppliers at the yards engaged in construction or repairs. The risk is handled by stipulating terms in agreements and by having Stena’s own personnel stationed at yards.
Stena Line, Stena Property and Blomsterlandet have developed their own codes of conduct, to confirm that fair working conditions exist, among other things. Stena has the opportunity to inspect suppliers’ activities to ensure compliance with the agreement terms. Stena seeks to reduce these risks by ensuring better control of every link of its value chains.
STRONG CIVIL SOCIETY
In 2020, the Stena AB Group directly and indirectly donated SEK 24 million for such purposes as building competencies in schools, environmental initiatives, innovation, research, culture, sports associations and children’s rights. The Sten A Olsson Foundation for Research and Culture donated SEK 24 million in 2020, as well as an average of SEK 35 million per year during the past ten years. In 2020, the Jane and Dan Sten Olsson Foundations distributed SEK 9 million for social and scientific purposes, including support for the Hand in Hand Foundation. Over the years, the contributions to Hand in Hand have created almost 200,000 jobs, mainly in Africa.
Read more about Stena and the Non-Violence Project Foundation