Corporate governance
By acting correctly, we build and nurture trust among our personnel, customers, principals and other business partners. Compliance with our corporate responsibility principles and clear and effective sustainability management are prerequisites for the future growth and continuity of our business.
The Board of Directors of Algol Chemicals approves sustainability commitments and targets annually. The Board also regularly monitors the implementation of these commitments, the strategy and the targets.
The Management Team of Algol Chemicals reviews and approves sustainability-related principles, commitments, action plans and targets and presents them to the Board of Directors. The Management Team ensures that sustainability is integrated into the company’s overall strategy and is responsible for achieving the targets set. Progress towards and implementation of commitments and targets are monitored by the Management Team every two months. The company’s Sustainability Manager has overall responsibility for promoting sustainability within the Management Team.
The Algol Chemicals Sustainability Team monitors changes in our industry and developments in regulation, advances the company’s sustainability strategy and strengthens the organisation’s commitment to shared targets. The team defines Algol Chemicals’ sustainability targets and key performance indicators (KPIs), which are approved by the Management Team. The Sustainability Team also assists and supports the entire organisation in achieving these targets. In addition, the team is responsible for compiling sustainability data from different functions for sustainability reporting, in cooperation with the Algol Group Sustainability Team.
The business units and other support functions of Algol Chemicals incorporate sustainability targets into their day-to-day operations, processes and business strategies. They have their own targets that support the achievement of our shared sustainability targets, and progress is monitored regularly.
