Transparency in operations
The transparency and accuracy of information regarding the company's operations is of utmost importance to Sponda. Openness and transparency are promoted through developing the company's operating models and by engaging in open dialogue with stakeholders.
The key aspects of the priority are:
- Financial reporting
- Reporting on responsibility
Why is this a priority?
Sponda believes that transparent communications and operations increase stakeholder trust in the company. For Sponda, transparency means, above all, reliable communications and reporting.
Promoting transparency at Sponda
Sponda’s financial reporting complies with existing legislation and standards. The company also serves investors by providing information on its operating environment and development in line with EPRA (European Public Real Estate Association) recommendations, among others. Reporting is continuously developed on the basis of interaction with investors and other stakeholders.
More detailed information on Sponda’s key stakeholder groups and the company’s interaction with them can be found in Sponda’s stakeholder groups in this Annual Report and on the company website. The cash flows by stakeholder group chart evaluates the importance of stakeholders based on whether or not they are able to have a significant impact on the company’s operations.
Sponda's customer relationships are based on interactive partnership. This is supported by a commitment to develop the company's operating models and make customer communications increasingly interactive. A key focus in Sponda's internal communications has been the development of dialogue between the management and employees through arranging regular events to improve the dissemination of information and provide opportunities for discussion. The company’s intranet service supports interaction between employees and management.
Sponda also promotes responsible ways of working in the property sector in co-operation with its subcontractors. The company requires transparent operations and up-to-date communications from its subcontractors. To prevent the grey economy, Sponda has set strict contractual conditions for its subcontractors and requires that they are officially registered pursuant to the Finnish Act on the Contractor’s Obligations and Liability when Work is Contracted Out.
Sponda has defined key priorities with respect to the responsibility of its operations. The objectives and measures related to these priorities are described in Sponda’s annual responsibility reporting.
Cash flows between stakeholders
(share of Sponda's turnover,%)