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THE RESPONSIBILITY THEMES ARE BASED on a materiality analysis conducted in 2019. For the materiality analysis, we used our customers’ feedback and questions as the stakeholder viewpoint, we interviewed analysts and investors, and used the information gathered from employee surveys. Kamux’s key stakeholders include our customers, personnel, owners, partners, authorities and decision-makers as well as the car industry.
You can see the three responsibility themes on the left.
IN 2020, WE ADJUSTED OUR GOALS AND PERFORMANCE METRICS. Our guiding principle is that the metrics focus on the most essential topics and give a comprehensive picture of the responsibility of our operations. We will continue developing the monitoring of metrics and data collection also in the coming years.
We are committed to contributing to the United Nations’ global Sustainable Development Goals (SDGs) in our operations. Especially goals 4, 8 and 12 are central to Kamux.
Management of corporate responsibility and risks
Kamux’s Management Team is responsible for setting and monitoring the themes, goals and performance metrics of the corporate responsibility program. The Board of Directors of Kamux approves the corporate responsibility program and the results of the work and discusses matters related to responsibility in their meetings. The Director of Communications along with the corporate responsibility working group coordinate daily responsibility work with experts in various fields.
Risks related to corporate responsibility are identified and managed as a part of Kamux’s comprehensive risk management work. Responsibility topics, including the related risks, are discussed in every Management Team meeting, and they form a part of the Board of Directors’ reporting package.
THE UPRIGHT PROJECT HAS DEVELOPED a net impact model, which measures the net impact of a company’s business on society, knowledge, health and the environment. Upright considers impact comprehensively alongside value creation, i.e. what the company achieves with its products and services, not only negative impacts. We commissioned Upright to conduct Kamux’s net impact analysis and will utilize the results in the company’s strategic planning and the development of the responsibility program.
Upright’s work is based on machine learning and AI modeling that charts and quantifies the impacts of economic activities throughout the value chains. As a basis for the analysis, Upright processes a significant amount of data from scientific articles.
Kamux’s impact profile
Kamux’s impacts were examined in relation to the company’s products and services, with consideration for revenue and the number of personnel.
A considerable aspect in Kamux’s impact is supporting people’s mobility, transportation of goods, and societal infrastructure. We make it possible for many people to purchase a newer car. In addition, the company supports the overall functioning of society by offering employment and paying taxes.
Kamux requires versatile expertise in its operations. However, the knowledge and competence profile of used car retail is different from that of new car design and manufacturing.
In terms of health, the impacts of Kamux’s operations are largely indirect. Road traffic accidents and car emissions are a health concern. At the same time, people consider driving to be important and to bring joy to them. On the other hand, car driving also induces so-called road rage and frustration for some, as seen in the Relationships graph.
The largest environmental impacts of Kamux’s operations are caused indirectly by vehicles used in traffic. Used car retail has positive environmental impacts especially from the perspective of circular economy. Kamux enables using already manufactured cars throughout their reason-able life-cycle.
The Upright Project also modeled future scenarios in terms of Kamux’s impact profile. Kamux’s operating environment is affected by global megatrends such as climate change and digitalization as well as phenomena such as the corona pandemic in the shorter term. In the course of business, the company makes strategic decisions that are affected by megatrends but also stakeholders’ values and expectations. These include, for instance, views on mobility and traffic infrastructure.
Integral in terms of Kamux’s impact profile are development of low-emission cars and their share of total car sales. Reducing traffic emissions has a key role in combating climate change.