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Technology Industries of Finland’s corporate responsibility policy: responsibility is the foundation of successful business

23.6.2021 klo 9.57
The member companies of Technology Industries of Finland aim to be frontrunners in corporate responsibility. For Technology Industries of Finland and its member companies, responsibility is the foundation of successful business and an aspect of everyday work. The corporate responsibility policy was prepared in 2021 in collaboration between Technology Industries of Finland and its member companies.

By operating responsibly, we will strengthen trust in our industry among various societal actors, promote sustainable development, and create new business opportunities and jobs.

Technology Industries of Finland’s member companies operate in line with the prevailing legislation at all times, and they are committed to respecting internationally recognised human rights and protecting the environment within their spheres of influence. The companies also adhere to voluntary corporate responsibility guidelines and principles. Every company refers to these to select the most suitable and effective ways of operating responsibly.

Technology Industries of Finland encourages companies to set targets related to sustainable development and corporate responsibility management and issue transparent reports on the action they take and the results of their actions. Global ground rules are needed for corporate responsibility monitoring and reporting.

It is important for companies to identify the corporate responsibility risks associated with their businesses, both in their own operations and throughout their value chains, and integrate them into their risk management. The member companies of Technology Industries of Finland also have the opportunity to convert corporate responsibility into competitive advantage by identifying and utilising the related business opportunities.

Financial responsibility is the basis for wellbeing

Technology Industries of Finland aims for sustainable economic growth and wellbeing based on profitable business expansion and renewal. The financial returns that companies generate for their owners are a natural part of their financial responsibility, as this is the only way to guarantee business continuity. Technology Industries of Finland understands that growth must be achieved in an environmentally and socially sustainable way.

  • The member companies of Technology Industries of Finland offer sustainable solutions for the needs of people, the environment and society and create financial value and social prosperity.
  • The operations and investments of Technology Industries of Finland’s member companies create a stable basis for a welfare society.
  • The financial effects of the industry lead to tax revenues, create jobs and increase investments, all of which further reflect onto other sectors and the economy as a whole.

Finland’s national strengths are a stable society, a high level of expertise and an advanced research, development and innovation environment. To retain these strengths, the country needs sufficient investment, balanced public finances and high employment.

  • The member companies of Technology Industries of Finland compete fairly and comply with all applicable competition laws and regulations.
  • Every company must work against corruption.
  • The industry has zero tolerance for bribery, extortion and white-collar crime.

Taking responsibility for people throughout value chains

Technology Industries of Finland’s objective is to represent good, responsible employers. Fair, proactive HR policies are required in the industry:

  • We recommend that companies with more than 50 employees include representatives of the personnel in their governing bodies in a manner compatible with their operations.
  • The working culture should be developed through open dialogue.
  • Technology Industries of Finland promotes diversity, fairness and equality in the workplace, and it supports the elimination of discrimination from the labour market.
  • Our industry has a reputation as a responsible employer, and this image is a key factor in the attractiveness of our companies in the labour market.

Digitalisation and the transition to a more ecologically sustainable society are transforming work and competence requirements swiftly and significantly. We will prosper when we have world-beating expertise and capacity for renewal in working life:

  • In the technology industry, everyone should have the opportunity to learn, develop and find their place throughout their career.

International companies in particular must take human rights into consideration in a transparent manner, both in their own activities and throughout their value chains:

  • Companies must avoid operating in a way that causes or contributes to human rights violations.
  • Companies must fulfil their duty of care.
  • Companies must identify their impact on human rights and prevent or mitigate any violations or negative effects directly related to their operations, products or services.

Heading for a carbon-neutral, resource-smart circular economy

Climate change, the loss of biodiversity and the overconsumption of natural resources emphasise the necessity of a transition to a carbon-neutral circular economy. Technology Industries of Finland’s vision is that by 2030, human activity will be in balance with our planet’s capacity to sustain us. A green transition in products and services is not only necessary – it is also a great opportunity

  • Technology Industries of Finland’s member companies play a key role in developing and applying technologies that support sustainable development.

Technology Industries of Finland’s member companies recognise the impacts of their operations on the climate, biodiversity and the environment as a whole. Technology Industries of Finland is committed to the goal set out in the Paris Agreement, which calls for global warming to be limited to 1.5 degrees Celsius. Technology Industries of Finland also supports the EU’s goal of setting biodiversity on the path to recovery by 2030. The practical measures required to achieve these targets are described in the industry’s low-carbon roadmap and biodiversity programme.

The best way for Technology Industries of Finland’s member companies to contribute to curbing climate change is to develop and export low-carbon technologies to help their customers reduce their emissions. Mitigating climate change is a profitable business.

The Finnish technology industry has already made excellent progress in applying the circular economy. Processes are planned so as to eliminate waste and ensure that products and materials, and the value they contain, are retained or even increased in the cycle. Recyclable materials and raw materials are increasingly replacing virgin raw materials obtained from natural sources.

Technology Industries of Finland’s goal is a society where sustainable products and services are mainstream and operating models based on the sharing economy have become established. To accelerate this development, companies in the industry need an enabling environment, incentives and greater demand for sustainable solutions.

Additional information:

Pirita Lindell (Head of Sustainable Development), phone 040 538 8799, 

pirita.lindell@teknologiateollisuus.fi, twitter: @LindellPirita

More on this topic:

Technology Finland's sustainability guidelines 2021