Internal governance and control
Effective corporate governance and internal control ensure responsible operations. Group-wide rules and policies create consistency, with focus on risk management and building trust.
One task of Stena AB’s Corporate Governance function is to ensure that the operations are conducted in a responsible and efficient way. One aspect is to ensure a common approach through the governing documents within the Group. Another task is to support the business areas in dealing with the ever growing demands for corporate governance and regulatory compliance.
In an increasingly connected, digitalised world, where the use of IT systems is fundamental, Stena has a strong focus on safeguarding information and on cyber security. Through its information security policy and management system, Stena works with systematic method support that is based on ISO 27001. Another task for the function and an important part of the governance work is to review the internal control of the financial reporting, which is regularly reported to the Audit Committee under Stena AB’s Board of Directors. Decisions on corporate governance documents and policies are anchored in Stena AB’s Board of Directors and executed by the business units.
Central rules and guidelines
The White Book, Code of Conduct, Code of Governance and policies form the basis for good corporate governance of all of the Group’s business units. Clear corporate governance within Stena AB is important for doing good business, creating trust and ensuring that we work as one company with a common culture.
Code of Conduct
Stena’s Code of Conduct describes how Stena is to act in order to fulfil the values and commitments concerning, for example, the environment, social conditions, personnel, human rights and anti-corruption. It also concerns relationships with business partners and how Stena reserves the right to withdraw from a relationship if a partner does not live up to the principles for good business conduct. The Code of Conduct is an integrated element of the employment contract and part of the introductory programme for new employees.
Code of Governance
The Code of Governance describes rules and responsibilities for the operations. This includes how Stena is governed and how decisions are taken within Stena, as well as risk management and the governing documents within the Group.
Group policies
In addition to these general documents, there are also Group-wide policies that are reviewed on an ongoing basis to cover relevant areas for all Group companies. The companies also have their own policies that apply to their specific operations. All of these documents are available to employees, who are expected to be very familiar with their content.
General Group Policies
- AI Governance Policy
- Anti-Bribery and Corruption Policy
- Brand and Trademark Policy
- Competition Compliance Policy
- Human Rights Policy
- Information Security Policy
- People Policy
- Privacy Policy
- Environment Policy
- Sanctions and Export Controls Policy
- Safety and Security Policy
- Whistleblower Policy
Specific policies
- Finance Policy
- IT Governance Policy
- Pre-Approval Policy
- Tax Policy
Whistleblower system
Suspected irregularities can be reported via the Group-wide whistleblower system. The whistleblower function is available to all employees on Stena’s intranet. Openness is encouraged, but reports can also be submitted anonymously. The recipients of reported incidents are the Head of Corporate Governance and the Chair of the Audit Committee. Relevant whistleblower cases are presented to the Audit Committee.
The service is provided by an external partner and all information is encrypted, as an additional security measure.
Prudent Risk Management
Shareholder value is created by accepting and managing risk on a responsible basis through effective risk management. Group’s stability is safeguarded by a deliberate strategy to focus on several different industries that face various risks, in contracyclical industries. Increased stability is also achieved by gradually moving investments to assets with secure cash flows.
In recent years, the share of properties and other non-maritime assets has increased, as a ratio of capital employed. The proportion of vessels and drilling units exposed to the spot market has likewise decreased. In addition, investments in landbased logistics have increased in recent years. Prudent risk management will maintain confidence in Stena’s ability to achieve its strategic ambitions, in line with its values and goals.