We recognize the importance of having clear governance to ensure the corporate integration of sustainability.
Clear governance helps to ensure that decisions are taken at an appropriate level, that sustainability is prioritized and aligned with the business agenda and that the commitment to sustainability is addressed across the organization.
In 2022, we established the ESG Committee, a Board of Directors’ committee charged solely with preparing resolutions to be taken by the Board of Directors in fulfilling its responsibility for oversight of relevant ESG policies, strategies and programs.
Supply Due Diligence
At NKT, the supplier due diligence approach includes supplier qualification, compliance and financial risk review and supplier audits (when required).The supplier due diligence is valid for two years and then needs to be re-performed. In addition, NKT Group Procurement conducts an annual supplier risk assessment, including if the supplier operates out of a high-risk country. The outcome of the supplier risk assessment feeds into supplier segmentation. The supplier segmentation prioritizes suppliers based on their strategic importance considering value & risk parameters. All A&B suppliers must be qualified, this process is governed and reported by the Procurement Process & System Lead.