NorthCapital’s corporate responsibility policies have been under development since 2018. Our policies involve the fields of human rights, social issues and labour conditions, anti-corruption and business ethics together with climate and the environment.
The Group’s CSR policy forms the framework of the approach which our employees take in respect of our values and our objective of ensuring sustainable and responsible conduct. The policy describes a number of guidelines and the expectations we have to each other, and it summarises how we should conduct ourselves in our respective roles as employees and as an employer. The policy is based on the Ten Principles of the UN Global Compact.
NorthCapital performs a collective risk assessment of the corporate responsibility areas. NorthCapital expanded its business operations into mining in 2018, but did so within existing areas of activity, so the general risk exposure is unchanged. The principal risks are described below in the context of the policy applying to each individual CSR area.
NorthCapital operates in a number of different countries worldwide. Regardless of which country we operate in, we endeavour to observe human rights and to treat our employees with dignity and respect. We support and respect the protection of internationally proclaimed human rights as set out in the UN Universal Declaration of Human Rights and in the declarations and recommendations of the ILO.
NorthCapital has performed a general risk assessment in relation to human rights. The Group has operations in many different countries, including some that may be defined as high-risk countries. We strive to uphold the same high standards at all subsidiaries, regardless of geographical affiliation. The latter is believed to contribute to reducing the risk of adverse human rights impacts.
Social Issues and Labour Conditions
At NorthCapital, we believe that results are created by people. We aim to be a responsible employer and to provide proper employment conditions, healthy and safe working conditions and a motivational working environment for our employees.
NorthCapital has performed a general risk assessment in relation to social issues and labour conditions. At NorthCapital, we believe our employees constitute our most important resource. As a result, we consider CR risks relating to social issues and labour conditions to be of material importance.
The large proportion of automated production in our mining businesses and the handling of our precious stones make heavy demands on our employees’ qualifications and skills.
We generally employ skilled labour and well-trained employees who acquire the necessary skills by undergoing teaching and training, thereby enabling our portfolio companies to comply with their quality and safety standards. This contributes to ensuring and maintaining a high level of health and safety, and constant efforts are made to minimise risks in this field
Anti-Corruption and Business Ethics
Over the years, NorthCapital has built a reputation of a company maintaining a high degree of integrity and ethical conduct. We combat all forms of corruption, including bribery and facilitation payments.
NorthCapital has performed a general risk assessment in relation to corruption and business ethics. NorthCapital’s vision is to be among the best to create value in a proper and reliable manner by committing ourselves and our businesses to taking responsibility and acting sustainably in all the countries we operate in. This vision is firmly anchored in the way we run our business, and it has contributed to building the Group’s strong reputation over the past many years.
Based on the Group’s general business model and its tradition for responsible business operations, this area is not assessed to constitute a significant CR risk, with the exception of the inherent risk that not all employees – and especially not new employees – may be aware of the Group’s policy. Hence, appropriate provision of information is required to ensure that NorthCapital’s high standards are maintained.
Climate and the Environment
NorthCapital’s mining operations are to a wide extent involved in large-scale processing of commodities, and we recognise the environmental impact of our production processes. Our CR policy on climate and the environment goes hand in hand with good business acumen. We work to protect the environment and to reduce our emissions continuously relative to our production output.
It is inherent to and an integral part of the Group’s business model that we seek to minimize the volume of waste in an effort to reduce the overall volume of energy consumed, reducing the impact on climate and the environment and lowering the relative volume of emissions. Going forward, our individual companies will maintain their focus on improving their performance in terms of climate and the environment.
Our vision at NorthCapital is to be among the best to create value in a proper and credible manner by committing ourselves and our businesses to taking responsibility and acting sustainably while also creating a motivational working environment.