In addition to applicable legislation and regulations, Caruna’s operations are conducted in accordance with jointly defined values, company strategy and strong corporate governance principles.

Values

Caruna’s values were jointly defined by company personnel, the management team, and the Caruna Group Board of Directors in 2014.

 

WE ARE CUSTOMER CENTRIC

  • We enable a carefree daily life for our customers through our partners and our own actions.
  • We recognize and strive to understand the needs of future generations and develop our operations to meet them.
  • We are easy to approach and a professional partner.

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WE ARE RESPONSIBLE

  • We are a reliable and responsible partner for our customers, contractors and owners.
  • Our work contributes to build the Finnish society.
  • We put safety and sustainability first in everything we do.

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WE ARE COLLABORATIVE

  • We work transparently across organization boundaries to reach our common goals
  • We develop the electricity distribution business together with the authorities, municipalities and the industry, both in Finland and in Europe.

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WE ARE RESULT ORIENTED

  • We operate efficiently for the good of our stakeholders.
  • We develop our business proactively with a long perspective.
  • We create value for our shareholders in a sustainable way.

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Strategy

In accordance with our company strategy, we look after the well-being of our personnel, serve our customers in the best way possible, maintain and develop our network so that it meets the future needs of our customers and society and make our expertise available for wider use by the sector.

We focus on four elements: the customers, electricity network, operational environment and company culture. This allows us to meet the needs of our key stakeholders while also achieving our own goals on the journey to becoming the best electricity distributor — first in Finland, then in Europe, and ultimately in the entire world.

Operating principles

Caruna’s Code of Conduct forms the basis for our operating principles.

Caruna’s Code of Conduct is based on our values and it forms the basis for our operating principles. It defines how we take care of Caruna’s property, how we collaborate and act toward each other, and how we run our electricity distribution business. The Code of Conduct and the guidelines based on it are part of Caruna’s Compliance system.

The Code of Conduct ensures that everyone at Caruna understands the practices and ethical principles that guide our operations in the same way. We adhere to our Code of Conduct in all our business operations, both within the company and when dealing with our stakeholders and the surrounding society.

It concerns all Caruna employees, managers, and board members alike. Everyone at Caruna takes an online course on the Code of Conduct and commits to its principles as part of their induction process. We also require our contractors, service providers, suppliers, and other contractual partners to adhere to the same principles. Caruna has drawn up a separate document for contractors and suppliers, the Supplier Code of Conduct, and each contractor and supplier is expected to commit to following it.

Our Code of Conduct is complemented by policies approved by the board, outlining in more detail the operational principles concerning Caruna’s focus areas, as well as by internal guidelines. Caruna has put in place separate guidelines for areas such as anti-corruption measures and conflicts of interest. The contents of the Code of Conduct and key guidelines were presented to everyone at Caruna in a special briefing meeting in the autumn of 2015. The employees commit to adhere to the guidelines as they complete their Code of Conduct online course. Caruna published a separate guideline and online course on competition law in December 2015.

Caruna’s policies and guidelines are available to the entire personnel in the company’s intranet. Documents in use by both Caruna and its contractors and other partners are found in the common electronic working areas. The operational principles for the key areas (personnel policy, HSE policy, sourcing policy) are available in this report’s chapters concerning individual responsibility areas, and also on Caruna’s website. Suspected cases of misconduct can be reported using the appropriate reporting channel available on our website.

Caruna respects the UN human rights principles, the International Labour Organization’s (ILO) fundamental conventions, and the UN Global Compact initiative. Caruna’s consolidated financial statements are drawn up in accordance with International Financial Reporting Standards (IFRS).