AVK CSR 2023-24 web - Flipbook - Page 52
POLICIES AND ESG
REPORTING
Risk assessment
We are closely monitoring the upcoming
requirements related to the implementation
of CSRD and ESRS. We fully understand
the obligations this place on us as a Group,
including the need for a future risk assessment.
AVK will develop a comprehensive risk
assessment applicable to the entire Group.
During 2023/24, the work with a double
materiality assessment was initiated to align the
ESG themes and the upcoming requirements
of CSRD. The work on the double materiality
assessment as well as the gap-analysis will
extend over the next year.
We will identify our risks and align them
with relevant policies
Existing and new policies must be assessed
and determined in each of the three areas (E, S
and G) in accordance with the requirements of
the CSRD, ESRS, and the future CSDDD. In the
AVK Group, we have several policies, however,
particular attention will be paid to policies in the
following areas:
• E: Environment and Climate Policy
• S: Ethics/Human Rights Policy; Diversity
Policy, Employment Relations Policy and
Work-Related Health and Safety Policy
• G: Business Ethics Policy and Anti-Corruption
& Anti-Bribery Policy
On 1 October 2023, a new management team
came into force with a Group Executive Board.
On this board, two out of eight members are
women, representing a proportion of 25%.
Management level 2 is AVK Holding
Management Group. The AVK Holding
Management Group comprises department
managers from AVK Holding. The group
demonstrates a gender diversity rate of 40%,
with 4 of its 10 managers being women.
In all three management levels the gender
composition remained unchanged compared to
2022/23.
To further reduce the gender diversity gap,
management ensures, whenever possible, that
qualified female candidates within the candidate
pool are included in the final interviews for
management positions at AVK Holding. At
the same time, we want to strengthen efforts
to increase the number of women in global
leadership positions. Therefore, we pay special
attention to gender equality when promoting
AVK Holding
managers in the Group and reflect this in the
succession planning process.
Report on Data Ethical Policy
In line with digital developments, such as
artificial intelligence, machine learning, and
the increasing cyber threats, the AVK Group is
increasingly focusing on the use of data and
how to ensure that physical persons remain
at the centre of the processing. A responsible
data culture involves, among other things,
ensuring transparency, protecting privacy,
being accountable for data usage, and staying
informed about digital developments, cyber
threats, and the tools employed. Therefore, AVK
adopted a Data Ethical Policy in the financial
year 2021/22, revised in the financial year
2023/24.
Our Data Ethical Policy reflects AVK’s core
values regarding data usage, ensuring that we
handle data with respect for individuals. The
policy is accessible on the AVK Group’s intranet.
2023/2024
2022/2023
Total number of members
6
6
Percentage of underrepresented gender
17
17
Target %
25
AVK Boards of Directors:
Report on inequal gender representation
in management
When recruiting and appointing managers at
AVK, we adhere to the principle of selecting the
most qualified candidate for the role. However,
the technical and industrial nature of our
industry has traditionally been male-dominated,
resulting in a gender imbalance both at the
management level and among employees
overall. As such, we also have a responsibility
to make our company more attractive to women
and ensure a better balance between men and
women.
Target year
2026
Group Executive Board (level 1):
Total number of members
8
8
Percentage of underrepresented gender
25
25
Target %
25
Target year
2026
Management Group (level 2):
Therefore, we have set a target of achieving
25% female representation on the Board of
Directors in 2025/26. In the financial year
2023/24, women make up 17% of the Board of
Directors excluding employee representatives.
Total number of members
10
10
Percentage of underrepresented gender
40
40
Target %
40
Target year
52 | AVK Sustainability report 2023/2024
2026
