Society
Society
Positive social development, globally and locally
Stena’s ambition is to be a committed corporate citizen that contributes to positive social development through its operations.
Stena contributes important functions in society and has the ambition to always act responsibly in every part of the value chain and to conduct its operations according to sound business principles. Issues such as good business ethics, respect for human rights and initiatives to counteract social instability in society are fundamental to Stena’s work.
Our ambition
Contributing to society
- Sustainable and useful products and services
- Ethical business acumen
- Responsible sourcing
- Care for partners and society
Policy
Stena’s Code of Conduct states how the Stena Group is to act in order to live up to its values and commitments. It concerns social conditions, human rights, people and anti-corruption. The Code of Conduct is an integral part of employment contracts and a mandatory element of the induction programme for new employees.
The Code of Conduct also guides business relationships and specifies situations in which Stena should withdraw from a relationship because partners do not live up to the principles of good business conduct. All business units follow Stena’s Code of Conduct and some business units also have their own more extensive codes of conduct.
In 2024, Stena adopted a Group-wide Human Rights Policy to further underpin the Group’s work on human rights. This policy sets out the responsibilities and requirements of all Stena’s business units in this area.
Stena also has a Group-wide Anti-Bribery and Corruption Policy, which is supported by a digital training. Anti-corruption is a matter of trust and a prerequisite for sustainable business. Stena must prevent all forms of corruption, including conflicts of interest and money laundering. The Group has a whistleblower system to detect possible cases of corruption and other misconduct. Read more here.
Goals and results
To ensure understanding and compliance with the Code of Conduct, the Group’s employees regularly complete digital training.
Stena supports and respects the UN Declaration of Human Rights and has zero tolerance for any form of forced labour, child labour or use of illegal manpower for the production of goods or services. This applies both within Stena and in the activities of suppliers and partners. No cases deemed to constitute corruption were reported during the year via the Group’s central whistleblower function.
Each business unit sets its own longterm and short-term goals based on the significant impacts of the business on society. For an overview of the Group’s key performance indicators, read more here.
Risks
All business units annually analyse and report their risks to Stena AB. Below is a summary of the business unit’s most significant risks in the area of Society.
Care leads to results
When oil was discovered off the coast of Guyana in 2015, the oil industry began flocking to the small South American country. However, although the country has experienced explosive growth, many locals lack the skills needed to take advantage of the new energy economy. Consequently, one of Stena Drilling’s sustainability goals is to develop and promote local staff.
Since entering the country in 2016, Stena Drilling has therefore developed strategic partnerships with local suppliers who have been helped to grow, recruit and train staff. This has produced results. In 2024, 43 per cent of the company’s employees in Guyana were local employees, compared with the goal of at least 30 per cent. These efforts have made it easier for Stena Drilling to recruit, and more Guyanese people are able to ben-efit from economic growth.