Environmental, Social and Governance (ESG) Report
Our ESG commitment
Our highly regulated business has an economic, social and environmental impact on our surroundings and stakeholders. The most important impact is the positive contribution to patients’ lives as well as the economies and the societies in which we operate. However, we need to assess and address potentially negative aspects and consequences of our operations and business relations. These include potential environmental impacts, human rights risks in our supply chain, quality and safety issues, and the risk of corruption.
Since 2020 Photocure reports annually on Environmental, Social and Governance topics that are of importance to us. Our goals are fixed annually by topic and followed up quarterly with the leadership team. Achievements and gaps are tracked and documented, helping us understand our successes as well as areas that require more attention. Guided by the Euronext ESG guidelines and GRI Standards, we have implemented a process based on stakeholder inclusiveness to ensure that Photocure reports on the most material topics for our company and our industry. The current materiality topics for Photocure are: product quality and safety, human rights and supply chain responsibility, working environment, business ethics and transparency and data protection and IT-security.
The report is approved by the Board of Directors.
Corporate governance
Solid corporate governance to ensure trust and value creation
As well as our commitment to medicine, Photocure has a strong dedication to progressing our contribution to ESG.
Corporate governance
Photocure ASA the ("Photocure" or the "Company") has made a strong commitment to ensure trust in the Company and to enhance shareholder value through effective decision-making and improved communication between the management, the board of directors and shareholders. The Company's framework for corporate governance is intended to decrease business risk, maximize value and utilize the Company's resources in an efficient, sustainable manner, to the benefit of shareholders, employees and society at large.
Photocure seeks to comply with the Norwegian Code of Practice for Corporate Governance which ensures listed companies implement corporate governance that clarifies the respective roles of shareholders, the board of directors and senior management more comprehensively than what is required by legislation. Additionally, it ensures effective management and control over activities with the aim of securing the greatest possible value creation over time in the best interest of companies, shareholders, employees and other parties concerned.
Download the full report
Corporate Governance Policy and Annual Review 2020.pdf
Photocure ASA Articles of association 3 May 2023
Corporate social responsibility
The following provides guidelines of Photocure's corporate social responsibility. The company renews its commitment to transparency, corporate governance principles, sustainability and business ethics. Photocure has also recently become a signatory of the United Nations Global Compact, officially implementing the Ten Principles and holding ourselves and business partners accountable.
Raising concerns – whistle blowing
Photocure personnel are required to immediately report any suspected violation of our ethical principles, including the Anti-Corruption Policy. Suspected violations should be reported to the employee’s manager, the HR-department, the Chairman of the Board or to this e-mail address: compliance@photocure.com. When emailing, your concerns will be sent to the Compliance Officer and the CFO.
Photocure will not implement sanctions in any form against any person who, in good faith and in a responsible manner, informs persons in positions of responsibility or internal entities about possible breaches of Anti-Corruption Policy or applicable laws. We prohibit retaliation against anyone for making a good-faith report. All reports of suspected violations are taken seriously and will be followed up, as appropriate. Reports may be made anonymously.