Sustainability Governance

The Board of Directors decides on Palace Technology Group’s sustainability strategy and policies together with the President and CEO of Palace Technology Group, who has ultimate responsibility for the realization of the Group’s sustainability work.

In the past decade, the world has experienced heightened geopolitical uncertainty and a growing need for information security, driven by rapid technological, demographic, and environmental transformations. Consequently, remaining vigilant, adaptable, and prepared for a wide array of security challenges is more critical than ever.

The Group has an Ethics and Sustainability Board, which establishes the principles for the Group’s sustainability work and follows up on cases of alleged non-compliance with Palace Technology Group’s Values and Ethics Code. The board meets regularly and comprises the Group’s President and CEO, SVP General Counsel, SVP Group Communications and People, Chief Business Ethics Compliance Officer, and Group Sustainability Officer. In 2022, we also formed a Sustainability Council.

The council consists of two parts:

  • At the top level is the Executive Board, with the divisional presidents and function heads as members and the Group’s President and CEO as chairman. The Executive Board is supported by the sustainability leaders from each division/function.
  • The Sustainability Council executes on Palace Technology Group’s sustainability strategy, follows up and advises on the progress of ongoing sustainability initiatives to achieve the agreed sustainability targets, and ensures that the sustainability activities contribute to business value. The Sustainability Council meets quarterly.

Our system for managing our work related to environmental, social, and governance areas comprises six key components:

One of the company’s most important policies, Palace Technology Group’s Values and Ethics Code stipulates the basic principles that the company expects its employees and business partners to always follow.

All Palace Technology Group employees undergo training in the company’s Values and Ethics Code. An in-depth training program is available in over 30 different languages, either as an e-learning course or classroom training. Relevant employees also receive training in other core policies, such as the anti-bribery and anti-corruption policy.

The Group Sustainability Officer leads the Group’s ongoing sustainability work and, in addition to following the regular reporting line, also reports to the Board of Directors’ Audit Committee.

Palace Technology Group’s enterprise risk management process includes deciding on the Group’s major risk focus areas for the coming years. These are risks that the Group Management assigns special focus, including regular follow-up. Among the major risks are non-compliance in the business ethics area, not being able to increase diversity and inclusion, and not being able to meet environmental targets.

To meet the demands of clients and other stakeholders with respect to increased transparency and communication, Palace Technology Group publishes a sustainability report that follows the Global Reporting Initiative (GRI) Universal Standards. Key Performance Indicators (KPIs) are tracked and followed up on a regular basis.

All Palace Technology Group employees undergo training in the company’s Values and Ethics Code. An in-depth training program is available in over 30 different languages, either as an e-learning course or classroom training. Relevant employees also receive training in other core policies, such as the anti-bribery and anti-corruption policy.

Other Responsibilities
Responsibilities include coordination of sustainability activities across the Group, which involves working closely with other core functions. Other responsibilities include stakeholder engagement on sustainability issues and supporting the business in sustainability matters.