At Altum, we highly value ESG work. We want to continuously develop our policies and take concrete actions. Our ESG policy and its implementation are a key part of Altum’s management practices, strategic goals, and values. We always aim to improve our company culture, processes, and day-to-day work in line with this policy.
As our key ESG commitments state, Altum aims to become the leading technical solution for reducing the climate and environmental impacts of industrial operations, while also enhancing energy, material, and process efficiency. Additionally, Altum strives to be a model of a fair and attractive workplace, promoting occupational health and safety through its innovative industrial maintenance solutions. You can read our full ESG policy here.
In this article, we’ll look at the recent developments in our ESG work and see what lies ahead for our future efforts.
Environmental: Quantifying Our Impact
Altum focuses on developing solutions to help customers reduce their environmental footprint, including calculating the impact on energy efficiency, water savings, and chemical use reduction. A big part of our recent ESG efforts has been creating a way to precisely calculate the impact our solution has on our customers’ operations. In practice, this means figuring out the calculations for improvements in energy efficiency, finding out how much water our customers have been able to save, and how much they’ve been able to cut back on chemical use.
This has required tight collaboration with our customers and has enabled us to provide them with data on how much CO2 they are able to save by using Altum’s solution. We want to be able to show real figures and base our claims on confirmed, extensive data.
Regarding our own environmental impact, we have also taken time to calculate our environmental footprint and take measures to improve our own processes: we work towards reducing the lifecycle footprint of our products and ensure they meet appropriate environmental standards and regulations. Altum also wants to ensure environmentally responsible treatment and disposal of waste and emissions from its operations with partners.
Social: Developing Guidelines and Working for Inclusivity
The Social aspect of ESG, referring to a company’s treatment of its employees, suppliers, customers, and community, has also been an integral part of our recent efforts. Our goal is to implement the best practices in career development, employee equality and diversity, employees’ education and training, balance of work and leisure, and occupational healthcare.
To reach these goals, we have worked on a new and more extensive Employee Handbook covering all aspects of worklife at Altum. Additionally, we have improved our internal communication guidelines to promote efficient teamwork, ensure a peaceful work environment, and maintain a healthy work-leisure balance.
In addition, updating and expanding our Equality and Non-Discrimination Plan has also been a very big part of our ESG work. We update our Equality and Non-Discrimination Plan every two years. In addition, we conduct a gender equality and non-discrimination survey among our staff also every two years . By creating clear goals and objectives, Altum is committed to equal treatment of staff and flexibility in working life. We constantly want to improve our workplace inclusivity.
Governance: Ethical Guidelines for Ethical Business
Governance refers to a company’s leadership structure, executive pay, audits, internal controls, and shareholder rights. Altum is committed to complying with all applicable laws and regulations and wants to build its business on fair and ethical practices and transparent governance processes. We work towards ensuring data safety and privacy by adhering to the best industry practices and standards.
We’ve renewed and extended our Code of Altum to improve our governance. The Code of Altum consists of our ethical guidelines and helps employees understand how to apply them in practice. For example, the code explains our gifts and hospitality management principles to comply with anti-bribery laws and regulations and combat corruption in all its forms.
Future Developments
Altum Technologies follows the development of ESG regulations and taxonomy, and we actively seek to improve our operations. One of the next steps in our ESG efforts is implementing VSME ESRS reporting, a framework designed for non-listed SMEs to help them enhance their sustainability reporting practices.
We’ll also work towards improving our environmental policy and update waste management guidelines. When building our hardware, we need to make sure we get rid of old materials correctly and prioritize recycling components.
As helping customers lower their environmental impact is one of our core goals, we here at Altum will continue improving our understanding of our customers’ processes, the value we create, and what they can achieve by implementing our solutions. It’s increasingly important to base all claims on qualified data, and we want to develop our impact calculation processes further to comply with all guidelines and regulations regarding green claims.
Stay tuned for more updates and insights by following us on LinkedIn.
If you have any further questions regarding Altum’s ESG policy, please contact ESG & HR Director Beda Arponen beda.arponen@altumtechnologies.com.