Vattenfall announces it has taken the guiding principles for its work on respecting human rights throughout the value chain and put them into the company’s first human rights policy.
The human rights policy is comprised of three main sections: our commitment; identifying our human rights risks and impacts; and managing our human rights risks and impacts.
The policy covers all of Vattenfall’s operations, including all stakeholders, from the local communities from which Vattenfall sources to employees and the local communities in which the company operates.
The foundation of the policy is Vattenfall’s commitment: “We commit to respect human rights in our supply chain, operations, and in the communities in which we operate.” Or as Vattenfall’s President and Chief Executive Officer Magnus Hall puts it in the human rights policy: “Respect for human rights is key to operate our business sustainably.”
The sections on identifying and managing the human rights risks and impacts describe the most prominent risks and impacts throughout the value chain – upstream in the supply chain, in Vattenfall’s own operations, and downstream in the local communities in which the company operates.
The policy also contains descriptions of concrete actions being taken to improve the ability to assess and manage these risks.
Supporting the policy is the “11 Steps to 2022” document, an action plan that describes 11 key steps the organization needs to take over the coming three years to improve its human rights performance. Vattenfall says it has been anchored throughout the company, with the various business areas identifying the specific actions they will take. The action plan follows the three building blocks of the UN Guiding Principles on Business and Human Rights: Policy and Embedding, Due Diligence, and Grievance and Remediation.
The 11 steps are split among these three building blocks, with a number of steps either under way or already completed.
Vattenfall has operations in Sweden, Germany, the Netherlands, Denmark, the UK and Finland. The company produces heat and electricity from six energy sources: wind, hydro, biomass, nuclear, coal and gas. Vattenfall owns and operates more than 100 hydro plants, and hydropower accounts for about 20% of the company’s total electricity generation.