We promote transparency in our communications with our stakeholders and actively engage with our stakeholders to learn about their expectations.
Valmet strives for globally consistent and transparent management and reporting practices and participates in several third-party sustainability ratings to help stakeholders assess its sustainability performance. We also actively collaborate with our stakeholders to share thoughts and communicate about our recent developments through several channels such as our customer magazine and company reports and brochures, events, face-to-face meetings and online channels. Questions related to sustainability are also part of our internal and external stakeholder surveys.
Valmet’s annual reporting consists of the Annual Review, Financial Statements, GRI Supplement, Corporate Governance Statement and Remuneration Statement. All reports can be found on the Reports and presentations pages.
The Annual Review describes Valmet’s market environment and the progress of our strategy and operations and introduces our sustainability focus areas.
The GRI Supplement includes Valmet’s sustainability reporting indicators and principles, and its alignment with the Global Reporting Initiative (GRI) Standards framework. The GRI content index included in the GRI supplement specifies where the information for each indicator can be found and explains any omissions to the reported data.
Valmet has been reporting sustainability performance according to the Global Reporting Initiative (GRI) standards since 2014. Valmet is a committed participant of the UN Global Compact (UNGC) and its Ten Principles on human rights, labor, environment and anti-corruption. Since 2014, we have reported on our sustainability performance annually in line with the UNGC’s Communication of Progress process. In 2018, we started to report selected sustainability indicators according to the EU Non-Financial Reporting Directive (NFRD).
Since 2020, we have reported climate-related information according to the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. Valmet’s climate-related disclosure is described around the four areas according to the TCFD recommendations: Governance, Strategy, Risk management and Metrics & Targets.
In 2022, Valmet continued the climate scenario analysis of its operations and business environment with quantitative modeling of the most impactful climate-related risks and opportunities. Focusing on Valmet’s largest geographical locations and key elements in the supply chain, the analysis provided a financial impact range for the climate-related risks and opportunities by 2030, based on the 1.5 °C and 4 °C scenarios.
Valmet reported financial figures according to the EU’s taxonomy regulation for the first time in 2021, and the work continued in 2022. To support current and future integrated reporting needs, we continued to develop internal reporting systems and started to assess external reporting tools in 2022.
We report to several third-party sustainability rating organizations for independent evaluation of our sustainability efforts. Over the years, Valmet has been recognized as a global leader in multiple rankings.
In 2022, Valmet was included in the Dow Jones Sustainability Index (DJSI) for the ninth consecutive year. The DJSI is a sustainability index family which includes the global sustainability leaders across industries. Valmet was listed both in the Dow Jones Sustainability World and Europe indices.
Valmet has been reporting to CDP's climate program ranking since 2015 and achieved the A- rating in 2022. CDP is an international, non-profit organization that collects and assesses climate change information from companies and cities to help investors better understand the economic risks and opportunities that climate change presents to their portfolio companies.
Valmet has been also rated among the top 5 percent of companies assessed by EcoVadis in 2023, receiving a Gold EcoVadis Medal. EcoVadis helps companies to manage their supply chain, and some of Valmet’s customers are using EcoVadis as a basis for supplier audits.
In February 2023, Valmet was included in the S&P Global Sustainability Yearbook 2023 as a recognition for its sustainability performance.