avk-esg-2024-25 - Flipbook - Page 55
POLICIES AND
ESG REPORTING
In spring 2025, we successfully completed
our Double Materiality Assessment (DMA),
providing a clear overview of our most
significant sustainability impacts, risks, and
opportunities across the AVK Group. This marks
an important milestone in preparing for future
reporting obligations.
Although the formal implementation timelines
for the CSRD and ESRS have been adjusted, we
continue to follow the regulatory developments
closely. Our strategic direction remains
unchanged: we will maintain momentum and
continue progressing within the ESG areas
already initiated and developed over several
years. Our long-term ambition and commitment
to responsible business conduct and
transparent reporting remain firmly in place.
Risk assessment and policy alignment
A comprehensive Group-wide risk assessment
will be developed in alignment with CSRD and
ESRS requirements. Our approach is to ensure
we are prepared and aligned with the direction
of expected due-diligence obligations.
Building on the output of our double materiality
results, we will continue identifying relevant
sustainability-related risks and opportunities
across environmental, social, and governance
areas and ensure they are linked to appropriate
controls, management processes, and policies.
During 2024/25, we have prioritised
strengthening our governance foundation
by updating and consolidating key policies.
A central part of this effort has been a
comprehensive update of the AVK Group
Code of Conduct, which serves as the
umbrella framework guiding ethical behaviour,
responsible business conduct, and expectations
for employees, suppliers, and business
partners.
As part of this, related policies have been
reviewed and aligned to support future
reporting, due-diligence expectations, and
stakeholder requirements.
Key policy focus areas include:
Environment (E):
• Company Car Policy
The policy states that, starting in 2025,
only electric vehicles (EVs) will be used as
company cars in Denmark and in countries
where the infrastructure for charging electric
vehicles is in place.
• Environmental Policy
The policy addresses our responsible use
of energy and other environmental impacts,
aiming to mitigate the effects these could
have on the environment.
Social (S):
• Human Rights & Ethics Policy
The policy explicitly states that trafficking in
human beings, forced labour, compulsory
labour, or explorative child labour are not
tolerated under any circumstances within the
Group.
Governance (G):
• Human Rights & Ethics Policy
• Anti-Corruption & Anti-Bribery Policy
This policy is part of our Code of Conduct
and serves as an internal guideline that
all portfolio businesses must adhere to.
It specifies that the AVK Group actively
combats all forms of corruption and that our
businesses must comply with all relevant
laws and regulations, regardless of where in
the world they operate.
This reinforced governance structure and
updated Code of Conduct ensure that AVK
maintains a strong foundation for responsible
business practices and is positioned to
meet upcoming sustainability requirements
once regulatory clarity, including CSDDD, is
established.
Report on inequal gender representation
in management
When recruiting and appointing managers
at AVK, we follow the principle of selecting
the most qualified candidate for the role.
However, the technical and industrial nature
of our business has traditionally been maledominated, resulting in a gender imbalance
both at the management level and among
employees overall. As such, we recognise
our responsibility to make our company more
attractive to women and ensure a better gender
balance across the AVK Group.
Therefore, we have set a target of achieving
25% female representation on the Board of
Directors in 2025/26. In the financial year
2024/25, women accounted for 17% of
the Board of Directors excluding, employee
representatives.
The AVK Group’s Management Board,
established in early 2025, consists of
seven members, of whom two are women,
equivalent to 28.5% female representation.
The Management Board is responsible for
overseeing the AVK Holding functions and
ensuring that the Group functions have the
necessary resources and competencies to
effectively support the companies within the
AVK Group.
To further reduce the gender diversity gap,
management ensures that, whenever possible,
qualified female candidates within the candidate
pool are included in the final interviews for
management positions at AVK Holding. At the
same time, we are committed to strengthening
our efforts to increase the number of women in
global leadership positions.
Report on Data Ethical Policy
In line with digital developments, such as
artificial intelligence, machine learning, and
the increasing cyber threats, the AVK Group is
increasingly focusing on the use of data and
how to ensure that physical persons remain
at the centre of the processing. A responsible
data culture involves, amongst other things,
ensuring transparency, protecting privacy,
being accountable for data usage, and staying
informed about digital developments, cyber
threats, and the tools employed. Therefore, AVK
adopted a Data Ethical Policy in the financial
year 2021/22, revised in the financial year
2023/24.
Our Data Ethical Policy reflects AVK’s core
values regarding data usage, ensuring that we
handle data with respect for individuals. The
policy is accessible on the AVK Group’s intranet.
AVK Group Sustainability report 2024/2025 | 55
