In the wholly-owned businesses, Latour works as an active owner, stipulating demands and providing support. Sustainability issues are of great importance to the companies and activities are carried out on an ongoing basis that advance the companies' positions in the area.
A few years ago, the minimum requirements regarding sustainability that apply to all business areas were expanded. The aim was to make sustainability a recurring item on the agenda at all board meetings, for all companies to conduct a stakeholder and materiality analysis, as well as to anchor Latour’s central KPIs and add individual, relevant key ratios and associated goals. This has now been implemented. The common, central KPIs are reported to Latour quarterly for compilation and analysis.
Sustainability is a key part of the companies’ strategies and risk analyses. The implementation of TCFD during the year has further increased knowledge about sustainability and, in particular, the impact of climate change on operations. In addition to various networking initiatives, a sustainability fund has been established to which all wholly-owned companies can apply.
All group-wide policies and steering documents are communicated to the managements of the relevant business areas. Latour’s participation in the business areas’ boards of directors ensures that the companies will draw up their own, more detailed and relevant policies and guidelines, and then work according to these.
The sustainability work is reported from three different perspectives (see illustration). All key performance indicators are a compilation of data from the Group’s seven business areas, and from the parent company.
ENERGY CONSUMPTION
An annual relative decrease in energy consumption of at least 5 per cent in relation to net sales.
ENERGY MIX
By 2030 at the least, all operations should only be using renewable electricity.
CO2 EMISSIONS
A decrease in CO2 emissions with 40 % in scope 1 & 2 and 20 % in scope 3 by 2030 (base year 2022).
Science Based Target Initiative
By 2025, all holdings shall commit to SBTi with validated climate reduction targets.
GENDER RATIO
All Boards of Directors must comprise 40–60% women by 2030 at the latest. All management teams and salary-setting managers must comprise 40–60% women by 2040 at the latest.
WORKPLACE ACCIDENTS
Latour has a vision of zero accidents at work. This key ratio measures workplace accidents that have led to at least one day´s sick leave.
ENVIRONMENTALLY CERTIFIED
By 2025, all production must be environmentally certified.
WORKPLACE INCIDENTS
Report everything and work proactively. It is important to pick up on incidents to prevent future accidents from occuring.
CODE OF CONDUCT
All operations must implement Latour’s Code of Conduct, or develop their own code of conduct internally.
Reduced climate impact in products and production
Sustainability always represents a central part of product development, and the companies are continually striving to develop new products that help to reduce the environmental impact. In addition, continuous environmental improvements are being implemented in the operations.
As an owner, Latour places high demands on the holdings to continually reduce their negative environmental impact in their own operations.
There are currently four key targets for lower environmental impact. Furthermore, most of the companies have set additional targets that are relevant for their own operations. Latour has a central environmental policy that the companies follow, although they have also designed their own policies adapted to their operations.
The companies in the wholly-owned operation are continuing to enforce their commitment to reduce their climate impact. This includes more leading products, the introduction of circular concepts and committment to the Science Based Targets initiative (SBTi).
The work of developing life cycle assessments (LCA) has continued over the past year within the wholly-owned operation. The aim is to acquire a more in-depth understanding of the environmental impact and resource flows for various products. These analyses also form the basis for Environmental Product Declarations (EPDs), which help customers to make choices with consideration for environmental performance.
The environment
Re:3 – Concept for circular business
For a long time, Swegon has worked successfully to reduce the amount of energy used for ventilation, heating and cooling in buildings. In addition to minimising energy consumption in operations, Swegon is now providing an additional dimension by also focusing on the embedded carbon footprint in its products.
“We are seeing an increased awareness of the embedded and operational emissions from technical building products, such as ventilation equipment,” says Mirko Sauvan, Sustainability Manager at Swegon.
At the start of 2023, Swegon, along with Vasakronan, Combient Pure, ASSA ABLOY and Kone, launched a programme aimed at promoting the circularity of technical building products. Mirko was made Project Manager for the programme.
“The construction industry has a linear organisation, with old products being scrapped and replaced with new ones from the factory. However, the potential offered by a circular transition is enormous, as well as being commercially viable. At Swegon, we have launched the RE:3 concept.”
RE:3 stands for RE:duce, RE:use and RE:vitalise. RE:duce aims to reduce the use of materials that contain a large amount of embedded carbon, by replacing them with alternative materials or by means of a new design.
“An initial example as regards RE:duce is steel. In some products, we are now implementing steel with a recycled content of at least 75 per cent, and which has been processed using renewable energy.”
RE:use means that products are taken back, refurbished or upgraded and then made available once more. RE:vitalise involves extending the service life and upgrading the functionality of products in the field, i.e. in the place where they are already of use today. This is possibly one of the most efficient ways of reducing carbon dioxide emissions. All the products remain, fewer and shorter transport operations are required and only necessary components are produced new.
“At one school in Gothenburg, a GOLD unit for air handling had been in operation since 2003, yet by updating the software and selected parts of the hardware, the unit can now provide schoolchildren with fresh air for another 20 years.”
Data indicates that a circular economy is crucial when it comes to tackling challenges relating to resources and emissions, which in turn is promoting stricter legislation and new, strong market trends.
“Integrating reuse and refurbishment into the offering, such as our RE:3 concept, improves efficiency throughout the entire value chain, as well as creating a closer dialogue with our customers.”
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“This is increasing the level of efficiency throughout the value
Mirko Sauvan |
Commitment and talent building Latour’s success
The Latour Group is growing rapidly, in new regions and new sectors, through both organic growth and acquisitions. Developing and looking after employees is crucial in order for Latour to continue to grow profitably in the long term.
The wholly-owned industrial operations employ almost 8,000 people worldwide. As a long-term owner, Latour aims to utilise and develop the skills that exist in the operations, including through the transfer of knowledge and the exchange of experiences. As a result, the entire Group is viewed as an internal labour market, and mobility is deemed a natural part of the development of the individual and the company.
All the business areas conduct ongoing employee surveys and follow up the outcomes with various activities and measures. A pleasant, healthy and safe working environment is a priority in all businesses. Latour has a vision of zero accidents at work. Preventive actions, including consequence analyses, safety inspections and risk reports, are conducted on a continual basis. The reporting of both incidents and workplace accidents have been central KPIs since 2020.
Actively striving to have a variety of experiences and backgrounds promotes a stimulating and equal workplace, and is prioritised within the Group. Each business area has an equal opportunities and diversity policy that is carefully complied with. The focus is on increasing diversity among employees and striving to achieve diversification during recruitment. Initiatives are also being implemented to balance age and gender in various working groups.
Medarbetare
Improved conditions for new parents
Latour is determined to work actively to create a fair, flexible and inclusive organisation. A good example of this is the Nord-Lock Group business area’s parental leave policy. In all 25 countries in which Nord-Lock Group has employees, a minimum period of paid leave has been introduced for new parents.
“Even though most countries already have generous rules when it comes to parental leave, this is not the case everywhere, and we want to provide all our employees with good conditions,” says Jenny Bergin, HR Manager at Nord-Lock Group and the person responsible for initiating the new policy.
The policy also includes a “back to work” rule, which means that the mother, or whoever is the “primary care taker”, is entitled to work 80 per cent with 100 per cent pay for up to six months during the first year of the child’s life. This initiative is contributing to a better balance between work and leisure, for example.
“Quite simply, this makes it easier to remain in a career job following pregnancy, which otherwise can be a time when women in particular abandon their career ambitions.”
The new parental leave policy is part of Nord-Lock Group’s roadmap for supporting the overall agenda for diversity and inclusion, with the aim of retaining and recruiting talented individuals. At the same time, it is a matter of being able to contribute to a more equal situation in society, for example by encouraging spouses to share more of the responsibility in the home. This is far from a reality at present.
“Our aim is to be involved in and contribute to this discussion and development. As a Swedish company, we have also come significantly further in our equality work than many other countries.”
LAtour has established a goal whereby at least 40 per cent of managerial positions in its wholly-owned companies must be held by women by 2040 at the latest. This proportion currently stands at 22 per cent within Nord-Lock Group, just below the proportion for women in the Group as a whole. In order to achieve the goal, more women need to be recruited at all levels.
“This is fundamentally a matter of being a diversified and inclusive organisation, where everyone should feel welcome
and want to stay.”
| “This makes it easier to remain in a career job following pregnancy.” Jenny Bergin HR Manager, Nord-Lock Group |
Decentralised decisions provide strong local responsibility
Latour works with a decentralised decision-making model within the Group. This is accompanied by responsibility among managers around the Group to develop their respective operations and meet established goals and guidelines.
Latour’s role as an active and responsible owner is a prerequisite for creating added value in the holdings. The delegated decision-making structure is firmly anchored in corporate governance and means that leadership is an integral part of our corporate governance. Latour’s Code of Conduct emphasises the principles that govern the relationship with its employees, business partners and other stakeholders. It constitutes a minimum requirement for the holdings, and most have developed their own guidelines, policies and objectives based on Latour’s Code of Conduct, although more relevant to their own operations.
In addition to the Code of Conduct, Latour has a central anti-corruption and anti-bribery policy. An important aspect is Latour’s standpoint that employees should not engage in any business transaction where the grounds are dubious. All the holdings comply with this policy, as well as with local laws and regulations. In order to ensure a high level of knowledge and compliance with the Code of Conduct, policies and principles, Latour demands that all management team members as well as employees with purchasing or sales positions must carry out online training on the topic every two years. This training was carried out latest in 2023.
Latour supports and respects the protection of human rights and guarantees, through internal processes and steering documents, that it is not involved in crimes against human rights. Suppliers, distributors, consultants and other business partners must apply the principles of Latour’s Code of Conduct. Latour’s whistleblowing support system, WhistleB, provides employees with the opportunity to report suspected irregularities within the business anonymously and has been implemented in all business areas.
Affärsetik
A growing and significant social commitment
Companies that grow profitably deliver positive effects in the surrounding community. For example, Latour’s companies create a large number of jobs in many smaller towns. Growing together with the communities in which Latour is established also means getting involved in various local social initiatives.
“There are many examples of strong local commitments in our companies, often with a focus on helping people in need, promoting inclusion and, in particular, strengthening the rights and opportunities of children,” says Ida Berntsson, who works with sustainability at Latour.
Hultafors Group´s subsidiary Snickers Workwear’s operation in Latvia is involved in three different local initiatives, two of which are intended to strengthen children’s creativity. Another of Hultafors Group’s subsidiaries, the US company Johnson Level & Tool, has donated a van to Kars4Kids, an organisation that supports young people with training and advice. Vega, an Italian company within Latour Industries, is involved in a project aiming to help families with deafblind children.
“Just as with everything else we do within Latour, we also learn from each other, which in this case contributes to the creation of even more inclusive, equal and fair societies. Taking greater responsibility in society also makes us more interesting as an employer.”
Another of Latour Industries’ companies, Aritco, has taken this idea of social involvement one step further and introduced a volunteer policy. It provides all employees with the opportunity to get involved in voluntary work for up to five paid working days each year. Martin Idbrant is the CEO of Aritco Group AB.
“For example, we have employees who have helped new arrivals in the country to create a functioning everyday life, and we also have two employees who have visited the global Solvatten initiative’s project in Uganda.“
Solvatten is a foundation that helps poor families in rural communities around the world to purify their water with the aid of the sun’s rays. Latour has been supporting the foundation since 2018, and almost all the wholly-owned companies are now also individual contributors. Josefin Ekvall, one of Aritco’s participants on the trip to Uganda, can certify that this is an important commitment:
“It gives me goosebumps just thinking about it. A single Solvatten kit can make a significant difference in the lives of a large family of up to ten people.“
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“There are many examples of strong Ida Berntsson |