Added value for stakeholders
For Nordic Morning, financial responsibility means producing financial added value for the company’s key stakeholders, personnel, customers and owner.
A strong cash situation and a good equity-to-assets ratio enable business development even in a time of market instability.
Good leadership in focus
The key aspects of Nordic Morning’s corporate responsibility from the social responsibility perspective include good leadership, being a good employer, and attracting and securing the commitment of the best employees.
Leadership development is one of the priorities of our HR strategy that we focused on in 2014. In day-to-day operations, the results of good leadership are reflected in a better and more consistent leadership approach, which provides a solid foundation for a good work community and business success.
Working for the environment
We continued our determined and goal-oriented efforts to develop environmental responsibility.
The Green Office system was expanded. Measures to improve energy-efficiency continued. Nordic Morning’s printing companies renewed their Nordic Ecolabel licenses to match the new and more stringent permit criteria.
Communicating corporate responsibility efforts to customers
According to a survey from last autumn, Nordic Morning’s customers want customized and personalized solutions for corporate responsibility communications, as well as tools for managing stakeholder relations. They also indicated they want assistance in collecting information on corporate responsibility.
Measuring the digital eco footprint
Mika Ruuskanen, Director, the Green Nordic Morning program:
"Currently, Nordic Morning can calculate the energy consumption of its offices, computers and its own servers."
The eco footprint of clicking
Hanna Pihkola, a researcher at the VTT Technical Research Centre of Finland:
"We need more cooperation between the various actors to promote the life cycle environmental impact of digital services."
Customer demands accurate data on responsibility
An international customer with high standards in corporate responsibility sent Nordic Morning a comprehensive survey on corporate responsibility in early autumn 2014.
Corporate responsibility program
Our most important non-financial risks are related to staff. These risks include:
- Key personnel, managers, specialists or employees who work closely with key customers deciding to leave the company.
- Challenges in recruiting competent employees, particularly specialists in various fields of communication and managers who can develop the business.
- Failure to ensure that key personnel have a sense of commitment to the Group.
- Occupational risks related to printing, such as accidents, chemical leaks or fires at production plants.
We manage staff-related risks by implementing good HR policies and by focusing on employee and management development. We pay attention to improving the employees’ sense of commitment and developing recruitment practices. We maintain good lines of communication, communicating as openly as possible, and enhance employees’ involvement in developing our business.
A fire or a chemical leak at a production plant could damage the environment. We consider our other environmental risks to be minor.
Environmental risks are mainly managed through various environmental management systems, such as compliance with the ISO14001 standard; our production companies follow procedures established in environmental management systems to identify and prevent potential emergency situations and accidents that could harm the environment. These procedures are audited annually by accredited third parties. The companies regularly review and test their emergency preparedness and response procedures.
Climate change is not a substantial risk for our business in the near future as its effects have been less extensive in our main markets, the Nordic countries, than in other regions of the world. Nevertheless, combating climate change plays an important role in our CR program because it is the greatest threat to sustainable development globally.
We have managed to reduce our climate impact significantly since 2008 when we began assessing the ways in which our business contributes to climate change and working to achieve climate neutrality. In 2009, we started taking measures to reduce our carbon-dioxide emissions and began compensating for a proportion of these emissions. Further infomation can be found on the environmental responsibility section.
The Group management team is responsible for managing risks related to corporate responsibility and reacting accordingly. Nordic Morning's board of directors has approved the risk management methods applied by the management team. Management team assesses the likelihood and significance of each risk. The board of directors also monitors and assesses risks that have been categorized as significant.
Corporate responsibility at Nordic Morning is led by the CEO. The Group Communications Director is responsible for the development of corporate responsibility, related communications and reporting, together with a CRI (Corporate Responsibility Initiative) core team of representatives from Finance, HR, and the Nordic environmental responsibility working group. The Communications Director reports to the CEO and the Group management team regarding the activities of the core team.
Our CR agenda is set according to acknowledged policies and guidelines. We comply with the principles of internationally-recognized standards, such as the UN Global Compact and the ISO 14001 environmental management standard. Our reporting complies with the CR reporting recommendations established in 2011 for companies owned by the Finnish state and the instructions given for the tax footprint in 2014.
Our values – renewal, respect and responsibility – guide our operations in relation to our operating environment and stakeholders at all levels of the Group.
Continuous renewal of business operations and operating procedures is crucial for us as we operate in the rapidly changing communication sector.
First and foremost, respect refers to respect for the dignity, work and competence of our colleagues, customers, partners and other people we encounter.
The ultimate goal of Nordic Morning’s Board of Directors, the Board Committees and the Group Management Team is to operate our business in a responsible way.
We comply with legal requirements and are open and transparent when communicating about our business.
In group governance and reporting, Nordic Morning pursues integrity, transparency and accountability. For instance, we are open about the bases of compensation for the CEO and corporate executives.
Audits and controls carried out by external parties help to create openness. Nordic Morning’s production companies publish environmental reports annually and prepare reports for authorities.
We voluntarily participate in several environmental programs involving reporting to third parties. This includes the ISO 14001 environmental management system, the Nordic Ecolabel. and the WWF’s Green Office program. These third parties also review our environmental calculations.
Our goal is for integrity, transparency and accountability to be reflected in cooperation with our stakeholders. We expect our partners to operate their businesses responsibly.
Reporting of violations
Each employee is able to report any suspected violations, such as dishonest or unethical activities or legal violations in their work community, without fear of discrimination or retaliation. In the group companies, violations can also be discussed in cooperation forums where each staff group is presented by representatives selected by the group in question or in other regular meetings between employer and employee representatives. Anyone can report to the Group’s CEO about a violation.
Corporate Responsibility Report covers the activities of the parent company, Nordic Morning Plc, and its wholly-owned subsidiaries in the financial year from January 1, 2014 to December 31, 2014.
Nordic Morning's associate companies are included in the consolidated financial statements, but Nordic Morning does not manage their corporate responsibility issues.
We report on our corporate responsibility in our Annual Report each year. The previous Corporate Responsibility Report was published in February, 2014 as part of our Annual Report.
Our reporting is based on the CR program, established originally in 2010, which takes the financial, social and environmental impact of our business into account, as well as bearing in mind all stakeholders interested in the report. We update the program annually if required.
Our corporate responsibility reporting complies with the CR reporting model for non-listed companies owned by the Finnish State (Government Resolution on Ownership Policy, November 3, 2011, Appendix 3) as well as with the G3 guidelines issued by the Global Reporting Initiative (GRI), a sustainability reporting organization.
In the calculation of staff-related figures, we have followed the general annual reporting guidelines issued by the Finnish Accountancy Board.
The report has not been verified. According to our own assessment, our reporting corresponds to the GRI’s Application Level C, which has also been checked by PricewaterhouseCoopers Oy. GRI content Index.
The Strategy, Business and Financials sections of this Annual Report provide information on the Group’s financial performance, organization, ownership, governance and companies, as well as changes that occurred in 2014.
Vice President, Communications and CR
Tel. +358 20 450 2600
Going strong in the Nordic region
The business area comprises: Citat Oy and Klikkicom Oy in Finland; Citat AB, KliKKi AB, Mods Graphic Studio AB, and associate company BrandSystems International AB in Sweden; and Citat Ukraine LLC in Ukraine.
Content at the heart of every brand
The business area comprises JG Communication AB in Sweden.
Meaningful information and skills
The business area comprises Edita Publishing Oy and the National Centre for Professional Development in Education, Educode Oy in Finland.
Print & Distribution
Effective targeted marketing
The business area comprises Edita Prima Oy and Seed Digital Media Oy in Finland as well as Edita Bobergs AB in Sweden.