Vantaa Energy’s sustainability policy

The sustainability policy guides everything Vantaa Energy does. In this context, Vantaa Energy refers to Vantaa Energy Ltd and its subsidiary Vantaa Energy Electricity Networks Ltd.

In its sustainability work, Vantaa Energy strives to meet the expectations of its employees, customers, owners and other stakeholders. Sustainability is an integral part of Vantaa Energy’s management, and our sustainability objectives guide our actions through our incentive schemes.

Vantaa Energy plays an important societal role for local residents, businesses and organizations by producing and supplying energy to our customers at all times of the year. Our operations have an impact on the living and business costs and on the carbon footprint of local residents and businesses. We are constantly working to ensure that the people of Vantaa have access to affordable, climate-friendly and reliable energy while respecting biodiversity.

We are an important player in the security of supply for society. We are aware of our responsibility, because electricity and heat, as well as our share of Uusimaa’s waste management, are essential for virtually every activity. We take precautions to ensure the continuity of our operations in all situations, and we are able to quickly return to normal operations after any disruptions. We operate fairly and without discrimination on the energy market.

The annual short-term incentive scheme for all personnel has set financial performance indicators as an enabler for responsibility, and safety work is driven by measuring occupational accidents and the absences caused by them. Management and key personnel are also engaged in longer term development and responsibility through a long-term incentive scheme with indicators aiming for a better return on invested capital and monitoring the development of specific emissions from energy production. In the electricity network business, the long-term incentive scheme includes indicators for cost- and investment-efficiency and for delivery reliability. There are also delivery reliability indicators for local energy production and distribution.

To advance the sustainability development of Vantaa Energy, a sustainability program for 2023-2026 has been established to systematize and enhance the various aspects of sustainability throughout the company’s operations. Vantaa Energy’s Executive Management Team monitors  the implementation of the sustainability program. To support the sustainability program, a survey was conducted in which stakeholders have expressed their expectations regarding the most relevant areas for Vantaa Energy’s sustainability work.

Responsibility for the environment

Our goal is to reduce carbon emissions from energy production by first phasing out fossil fuels as quickly as possible and then making waste-to-energy carbon neutral by 2030.

Vantaa Energy has been awarded ISO 14001 environmental certification, and we are constantly striving to reduce the environmental and nature impacts of our operations. In 2023, we are publishing a roadmap for our biodiversity work, which aims to minimize the impact of our operations on nature. We will monitor and report on the progress of this work annually. We use best available technologies in the production of energy and services.

In our operations we strive for the smart use of resources and energy efficiency by recycling energy streams by tapping into circular economy and energy system synergies. We are committed to the national action plans of the energy efficiency agreements for energy production and energy services. We aim to grow our circular economy business and to minimize the amount of waste generated from our operations.

We are developing our ability to optimize the heating system throughout Vantaa, bringing system-level energy-efficiency benefits in the coming years.

Responsibility for people

We take responsibility for the wellbeing and safe working environment of our personnel as well as for a culture of teamwork and community spirit. Together with our employees, we plan different ways to maintain a sense of community, for example through clubs and various events.

We take care of the development of knowledge and learning. We are building a knowledge leadership approach that covers our strategic competencies and working life skills. Progress is monitored annually.

We actively monitor work ability with occupational health to ensure the physical and mental wellbeing of our personnel.

Our aim in occupational safety is to ensure that all our employees, including our collaboration partners, return home in good health at the end of the workday. Occupational safety is closely monitored and ambitious targets are set annually for it in our incentive schemes. In 2021, Vantaa Energy defined an occupational safety strategy, the aim of which is to reach zero accidents by 2025.

The holistic wellbeing and good motivation of our personnel play a key role in the implementation of our strategy. Employee satisfaction is monitored through an annual survey, which forms the basis for the annual development program.

Our financial success helps us both to pay dividends to our shareholder cities and to invest in projects that contribute to our goal of providing the people of Vantaa with affordable, climate-friendly and reliable energy.

We help our customers to use energy wisely and efficiently. We aim to offer lower heat prices than our reference cities. Our electricity transmission pricing is stable, predictable and reasonable.

Vantaa Energy makes annual donations to charitable or similar causes. The amount earmarked for donations is decided annually by the Annual General Meeting, and the allocation of it is the responsibility of the Board of Directors together with the CEO.

We organize open-door visits at our waste-to-energy plant. The visits provide information about the company’s and the plants’ activities and their relation to the circular economy and energy production.

We are committed to active, reliable, open and interactive communication with our customers and other stakeholders. We cooperate with NGOs and local actors.

Good governance

Vantaa Energy has a straightforward management system that reports regularly and adequately to the Board of Directors regarding the state of the company and the achievement of its objectives.

We communicate openly and honestly about matters of importance to the company and provide clear and timely information. We maintain an active dialogue with our personnel and with various stakeholders, such as owner representatives, customers, partners, various NGOs, the media and political decision-makers.

We clearly and candidly express our position on legislative developments that are relevant to us and we discuss them with our stakeholders. Vantaa Energy is politically neutral; we do not contribute to political activities in any way.

We require our staff and suppliers to commit to our Code of Conduct. We actively monitor the responsibility of our supply chains and take action if anomalies are found.