Sanoma has today published its Annual Report 2022. The Annual Report includes the Report of the Board of Directors, Financial Statements, Sustainability Report, Corporate Governance Statement and Remuneration Report for the year 2022. This article summarises our sustainability highlights of the year.
European Teacher Survey: our learning materials support reaching curriculum objectives
To follow up on our impact and to better understand the use of various teaching materials and tools, we annually conduct a ‘Sanoma Learning European Teacher Survey’. Early 2023, the survey was carried out in eight (2022: 6) of our operating countries. In the survey, teachers evaluate the impacts of learning materials from three aspects: student engagement, learning outcomes, and teacher efficiency. In 2023, for example 84% (2021: 85%) of teachers agree that Sanoma´s learning materials help students reach curriculum objectives.
New ambitious Science Based Targets aligned climate targets
During 2022, Sanoma updated its climate targets following the Science Based Targets initiative (SBTi) guidelines, setting emission reduction targets to limit global warming in line with the Paris Agreement’s 1.5 degree goal. Our climate footprint comes from own operations (Scope 1 and 2) and value chain (Scope 3). Scope 1 covers direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased energy consumed by the reporting company. Scope 3 includes all other indirect emissions that occur in a company’s value chain. Sanoma aims to annually reduce CO2-emissions from own operations and value chain by 4.2%. This means a 38% reduction by 2030 from a 2021 base year, in addition to the earlier emission reduction measures. In addition to reduction targets, we aim to be carbon neutral in all operations in 2030.
We reduced both our own operations and value emissions
In 2022, greenhouse gas emissions (GHG) from Sanoma’s own operations declined mainly as a result from moving to renewable heating and significantly reducing our reserve power consumption in our largest printing facility in Finland, Sanomala. Our most significant climate impacts derive from the indirect emissions of our supply chain. During 2022, our relevant Scope 3 value chain emissions declined by 8.2% as a result of several materials, logistics and services related initiatives.
Important steps in advancing employee diversity & inclusion (D&I)
Our strategic ambition is an inclusive culture where everyone is welcomed, respected and supported as their own true selves. Ensuring that our 5,600 employees in 12 countries feel that we provide equal opportunities is tracked by the Equal opportunities rating in our annual Employee engagement survey. In 2022, the rating improved to 7.7 (2021: 7.3). We also took important steps in advancing employee diversity & inclusion (D&I). All employees were invited to participate in our D&I survey carried out in collaboration with a third party. More than 2,000 employees participated. With this insightful data, we are better equipped to plan the next D&I steps to match the needs of the organisation. As increasing awareness about unconscious biases play a significant part in enhancing inclusion, we launched an online course for all employees on understanding unconscious biases and promoting inclusion both on individual, team and organisational level.
Our ambition is a culture where gender plays no role, while we do follow and report the number of women and men in managerial roles. In 2022, 44% (2021: 45%) of team managers and 41% (2021: 39%) of directors or senior management were women. Although our gender diversity ratio is on a good level, we recognise that we need to focus on enhancing it in certain teams, such as technology and management level. Our target is that by 2030, we have a 50/50 gender balance in our managerial positions.
Sanoma´s ESG performance one of the leading companies industry
Sanoma is one of the leading companies in the media and learning industry in managing ESG risks and opportunities. As a result of our sustainability performance, Sanoma’s scores in the key ESG ratings improved. In addition, Sanoma was included in Nasdaq OMX Sustainability Finland Index in December 2022.
Action to support Ukraine
We stand united with Ukraine and condemn the aggression and unprovoked war by Russia. During the past year, Sanoma Learning and Media Finland have supported the relief work in Ukraine with several initiatives. In addition, we initiated several local projects and will continue to look for ways to offer support.
Sustainability Report 2022 summarises Sanoma’s strategy in action
Sanoma’s Sustainability Report 2022 was published on 6 March 2022 as a part of the Annual Report 2022. It has been prepared in accordance with the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standard Board’s (SASB) guidelines and the Task Force on Climate-related Financial disclosure (TCFD) framework. Sanoma's Board of Directors' Report includes non-financial information corresponding with the Non-Financial Reporting Directive (NFRD) and EU taxonomy. Sanoma's Sustainability Report has been assured by an independent third party.