Annual Report 2014

Direct investments

Responsibility generating growth and innovations

In direct investments FII invests directly in an individual company. FII follows the principles of responsible investing throughout the entire investment process. When making an investment decision FII takes a stance on how the company in question addresses corporate responsibility issues. Any needs for influencing are explored in the investment phase. In all contract documentation FII specifies the responsible investment principles that it pursues. If there are any significant corporate responsibility issues in the company's operations, they can be specified in contracts.

When managing investments, responsibility issues are an integral element of the dialogue with a portfolio company. As an active owner, FII aims to influence the way in which the company handles its corporate responsibility affairs through, inter alia, board work. FII has, for example, endeavoured to influence the responsibility of its portfolio companies in the mining sector by appointing members to the board who have sound experience in environmental aspects.

The questionnaire survey of portfolio companies conducted by Finnish Industry Investment in 2013 showed that they give priority to corporate responsibility and its development, and that most of the companies had made public statements concerning their principles and/or practices in the field of responsibility. The questionnaire will in future be conducted at regular intervals, and will thus promote transparency in the progress of portfolio companies’ corporate responsibility.

Case: Aker Arctic Technology Inc.

Industry Investment invested in Aker Arctic Technology Inc. (Aker Arctic) in December 2013, acquiring a controlling stake in the company. Developing and harnessing world-class expertise in Arctic technology is of vital importance to Finland, both for boosting business in the Arctic region and for safeguarding supply routes. 

Aker Arctic specialises in development, design, engineering, consulting and testing services for icebreakers and other vessels and structures operating in the Arctic region. The company employs some 50 people and generates net sales of EUR 10 million. 

Aker Arctic has customers around the world, including ship-owners, oil and gas companies, shipyards and ship designers. The company serves its customers by providing consulting and engineering services, performing research and measuring studies, undertaking scale model testing and development projects, and by offering training in maritime operations in icy sea regions. 

Aker Arctic’s Managing Director Reko-Antti Suojanen describes how the company implements its corporate responsibility policy: 

Corporate responsibility in Aker Arctic 

Aker Arctic’s corporate responsibility is summarised as successful and honest operating procedures. The company’s main corporate responsibility themes are responsibility in both quality and operating procedures, economic sustainability and growth, positive social impacts on the nearby environment, personnel expertise and wellbeing at work, and global environmental impacts – particularly those projected via products. 

The environment and society at large 

Aker Arctic addresses environmental issues both in its activities and in the products it designs, with the aim of becoming a trailblazer also in environmental technology. The company addresses safety and environmental issues in all its activities. Aker Arctic actively promotes the development of Finnish business and maritime transport, and acts according to the company’s Finnish values in its international markets also. 

Aker Arctic participates in projects that support the viability of Finnish companies in their own sectors and market areas (including Team Arctic Finland). The company supports research and student activity in the maritime sector by participating in research financing, in projects and in specialised training. Aker Arctic has also given grants and stipends for study-related activities and for the public good (sports clubs and charity). 

Corporate governance

Aker Arctic applies an ISO9001-compliant quality system describing the company’s internal management practices and procedures. Regular reports on the company’s status are made to the company’s Board of Directors. This internal reporting also addresses environmental and personnel aspects as well as the company’s relationships with society at large. The company complies with Cooperation Within Undertakings legislation, promotes wellbeing at work and encourages career development. 

Development of corporate responsibility 

Aker Arctic does not yet issue a separate report on its corporate responsibility activities. It does, however, already register and systematically monitor most of the activities related to corporate responsibility, with the aim of starting to issue corporate responsibility reports within the next few years. 

As majority shareholder in Aker Arctic, Industry Investment can help to spotlight the corporate responsibility issues and responsible working methods most pertinent to the company’s operations, such as themes relating to economic responsibility and responsible investment.

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