22 June 2023
Document status: approved
Date issued: 22.06.2023
Approved by: Board of Directors
Date for review: 22.06.2025
Lead author/reviewer: María Hafþórsdóttir Office Specialist
Consultative panel: Kristin Magnusdottir CFO Rotovia and Daði Valdimarsson CEO Rotovia
1. ESG Policy Framework
1.1. Purpose and scope
Rotovia has set this environmental, social, and governance (ESG) policy to empower all stakeholders to initiate sustainable policies and practices to serve the surrounding community. This policy applies to Rotovia and its entities.
The ESG policy supports the overall strategy of Rotovia where our mission is to empower customers by producing premium and sustainable solutions. Our values are share, care, and can do and our strategy is to grow the company in a sustainable manner and thrive through our employees. For the purpose of this ESG policy, material ESG issues are defined as those issues that have or can potentially have a direct substantial impact on Rotovia’s ability to create or preserve economic value as well as environmental and social value for itself, the communities where it operates, and other stakeholders.
Rotovia believes that proactively addressing the ESG risks and opportunities will create long-term sustainable value for the company.
ESG matters include the following three categories:
|Environmental||Standards surrounding the use of energy resources and efficiency, carbon emission, pollution, waste and water management and impact and efforts towards slowing climate change.|
|Social||Social policies focus on how the company interacts with employees, consumers, and the world around them. Considers human rights, workplace policies, equality, employee wellness and safety training.|
|Governance||Standards for governance encapsulate issues and efforts that involve corporate cultures, such as transparency, accountability, inclusivity and compliance.|
The Sustainable Development Goals (SDGs) of the UN create a balance between the three pillars of sustainable development, the economic, the social, and the environmental. All seventeen SDGs are important but Rotovia has chosen eight SDGs to emphasize in its operations. Those SDG’s are:
|2 Zero Hunger||Rotovia is developing, manufacturing and selling solutions that improve food safety and food quality. By using solutions from Rotovia customers can improve their yield and reduce food waste due to bad quality.|
|5 Gender Equality||Rotovia promotes a diverse work environment. Every employee shall be appreciated regardless of origin, nationality, gender, religion, disability, age, or gender identity. To support this goal Rotovia will conduct employee satisfaction surveys annually and measure pay gaps and gender ratio in its operations and initiate improvement actions if needed.|
|8 Decent work and Economic growth||Rotovia aims to improve efficiency in its operations. The rotational moulding process is the second most labor-intensive plastic conversion process that exists today. With the latest development of robots and cobots opportunities are opening for low volume processes like rotational moulding and Rotovia intends to use these opportunities and invest in automatization projects. Rotovia emphasizes H&S in its operations and has a zero-accident policy. The board of Rotovia has approved a thorough Code of Conduct with clear ethical standards and requirements that apply to all employees of the company. Furthermore, the board has approved board rules which comply with approved guidelines on corporate governance. Our operations are important and good employers in their communities.|
|9 Industry, Innovation and Infrastructure||Rotovia aims to run sustainable operations where the emphasis is on innovative solutions which help our customers to reduce their environmental footprint. Rotovia is aiming to do more with less virgin resources by implementing innovative solutions for energy and material savings and increase the use of recycled polymers significantly.|
|12 Responsible Consumption and Production||Rotovia aims to minimize the negative environmental impact of its operations and will significantly increase recycled polymers in its operations, aiming for 20% recycling content by 2028. Parallel we will work on light weighing program where the aim is to reduce the use of virgin polymers to do “the job” for our customers.|
|13 Climate Action||Rotovia will measure scope 1 & 2 emission no later than 30.09.2024 and set targets for emission reductions. Today the rotomoulding industry is solely powered by fossil fuel energy sources. Rotovia will convert 25% of its machinery over to green energy by end of year 2028.|
|14 Life Below Water||All manufacturing plants of Rotovia shall comply with the Operation Clean Sweep (OCS) program to avoid plastic resin loss into nature. Rotovia will establish a takeback service to enable our customers to dispose of their products in a responsible manner. Rotovia is developing, manufacturing, and selling solutions that improve shelf life and quality of fish from catch to plate.|
|17 Partnership for the Goals||Rotovia will participate in international cooperation to reduce the CO2 footprint of the rotomoulding industry, to increase the use of recycled materials in rotomoulded products. This will be done with active participation of Rotovia in branch organizations as ARMO, Nordic ARM etc.|
3. Implementation and review
The CEO and the management team of Rotovia are responsible for ensuring the implementation of this policy.
This policy will be reviewed every second year by the CEO and the management team of Rotovia and approved by the board members of Rotovia.