Alma Media > Sustainable Alma Media > Governance

Governance

Alma Media adheres to the principles of ethical and transparent business management and does not accept unethical business practices from its employees or suppliers.  The company condemns corruption and bribery. The ethical principles are included in Alma Media’s Code of Conduct, which form the basis of the company’s responsible business operations and are part of the employee orientation. The Code of Conduct deals with compliance of laws and disclosure, conflicts of interest, gifts and the prohibition of bribery, as well as practices related to personnel, human rights and the environment. The guidance also includes regulatory reductions, among other things, the sections on data protection, anti-money laundering legislation and the prevention of tax evasion. It also emphasises the importance of diversity and permissiveness in the work community. More than 90% of Alma Media’s personnel in Finland and abroad have completed our revised Code of Conduct coaching. The company’s goal is that all alma media personnel will have completed the new Code of Conduct coaching by the end of the year 2022.

Subcontractors are also trained and informed about Alma Media’s code of ethics and the company’s sustainability program in supplier contracts. The goal is that 50% of the company’s most significant subcontractors are also committed to complying with the company’s Code of Conduct during 2022. In addition, risk management will be continuously improved in the company by reviewing the risk profiles of Alma Media’s operating countries and if necessary, the communications will be improved and training organised in identified risk countries.

Our employees and all stakeholders have access to an anonymous Whistleblow channel through which they can report perceived abuses.  Alma Media’s Whistleblow team receives the notifications and reports on them to the Audit Committee of the Company’s Board of Directors. Actions contrary to the Code of Conduct lead to measures and, if necessary, termination of employment. The company reported annually whether there have been any incidents and in 2021, the company became aware of one business-related suspicion of breaches of ethical guidelines through the Whistleblow channel. Alma Media’s Group Management Team is responsible for the compliance, ethics and transparency of the business. The company’s corporate governance is described in more detail in the corporate governance statement.

CORPORATE RESPONSIBILITY MANAGEMENT AT ALMA MEDIA

Alma Media develops its responsibility in accordance with the legislation regulating corporate business and media. The development of corporate responsibility is guided by the company’s policies, guidelines and commitments together with guidelines of third parties critical to business.

Alma Media’s Board of Directors monitors the development of responsibility on a regular basis. The Board of Directors discusses the objectives of corporate responsibility and the action plan as part of the company’s strategy and the risk assesment and also when approving the company’s non-financial information statement. The company’s management team is responsible for leading the development of sustainability in relation to changing business environment. The Management Team is responsible for the company’s sustainability strategy, the implementation of targets for the business units and the Group’s joint operations. The practical implementation of the sustainability program is carried out by the management of the business units and the designated key personnel of the Group’s procurement, HR, legal dep and ICT. Alma Media’s Communications and Brand Director coordinates the progress of the sustainability program in the Group Management Team and supports business operations with the Group Communications Team in target positioning, implementation of projects and communication.

MANAGEMENT OF RISKS RELATED TO RESPONSIBILITY

Alma Media’s risk management is described more extensively in the Report of the Board of Directors of the Company’s Annual Review. Alma Media’s risk management process also covers sustainability risks, the significance of which is assessed both financially and, among other things, based on the seriousness with which the realisation of the risk would damage the company’s reputation. In its stakeholder communications, the company provides transparent information on its sustainability risks and the challenges of developing corporate responsibility.