Sustainability
The Hagar family comprises a diverse portfolio of companies operating in the Icelandic food, specialty, and fuel markets. Our mission across all Hagar companies is to deliver exceptional service and offer high-quality products at competitive prices while always considering societal and environmental impacts. Hagar's sustainability policy is the company's long-term plan for contributing to a better and healthier society and environment while striving for the most sustainable operations. Furthermore, the sustainability policy outlines how Hagar's interactions with stakeholders will be managed, including employees, shareholders, customers, suppliers and financiers, media, and the community.
Annual and sustainability report 2023-2024Policy Statement
Hagar aims to lead by example and promote operations that recognize the impact on society and the environment. It seeks to cooperate with its stakeholders and create value for them through its decisions. Sustainability is integral to Hagar's core operations and guides decision-making on significant issues. When assessing performance, the company considers its impact on society, the environment, and profitability.
Strategic Pillars
Hagar's sustainability policy is built on four pillars. These pillars shape the company's priorities and define the fundamental tasks undertaken. The four pillars are interdependent and are equally important.
Environment
Hagar emphasizes knowing the direct and indirect effects that the company's activities have on the environment and strives to reduce adverse effects as much as possible. Adverse impacts include, but are not limited to, greenhouse gas emissions, pollution, food waste, and activities that negatively impact biodiversity and ecosystems.
Employees
Hagar strives to ensure all employees' well-being, inclusivity, and safety. Equality is the guiding principle in all decisions, and the company creates value for the business world through staff education and training. Moreover, Hagar emphasizes that the rights of all employees in its value chain are respected.
Consumers
Hagar respects the health and interests of consumers and the public in all its activities. Emphasis is placed on a wide selection of healthy options and on offering consumers the most favorable terms at all times, regardless of location. The company also supports various social issues through grants and collaborative projects.
Governance
Hagar operates according to the laws and regulations that the company must follow, as well as detailed guidelines for good governance. In addition, the company follows an established code of conduct and protocols for every aspect of its business.
Supporting the UN Sustainable Development Goals
Hagar has selected seven of the 17 United Nations Sustainable Development Goals (SDGs) as a compass for its operations. These seven goals are relevant to guiding Hagar's principles and demonstrate its commitment to global sustainability. These global goals support the company's strategic pillars and policies and encourage managers to implement and carry out procedures and projects.
Implementation and Scope
The sustainability policy of Hagar extends to its parent company and all its subsidiaries and helps to guide operations. The company's board and executives are responsible for aligning themselves with the policy and take responsibility for it.
Hagar's Sustainability Council has been established, with at least one representative from each subsidiary accountable for implementing the policy within their respective companies. Additionally, representatives from the parent company are part of the council, and members will meet regularly. The role of the Sustainability Council is to promote education for employees to enhance sustainability awareness within business units and coordinate actions within subsidiaries as appropriate.
The sustainability policy and its evaluation are part of the company's policy-making process and are covered in a specific section in its annual report. Hagar will review the policy at least every 12 months.
Sustainability Statement (UFS)
Hagar and its subsidiaries have, in cooperation with Klappir Grænar Lausnir hf. implemented Klappir's sustainability software and worked on an analysis of the company's measurable results in environmental matters and other issues related to sustainability. Klappir, in cooperation with Hagar, has compiled the group's sustainability results for the operating year 2022 according to Nasdaq's UFS guidelines. The results of Hagar's sustainability statement are divided into three parts: environmental aspects, social aspects, and governance.
Operating Units and Social Responsibility
Bónus, Hagkaup, Olís, Aðföng and Bananar have each released comprehensive sustainability reports detailing their activities for the fiscal year 2022. These reports provide succinct summaries of the primary sustainability and social initiatives undertaken during the year, alongside outlining the companies' sustainability objectives for the forthcoming years. Additionally, Zara has issued its own sustainability statement for the year 2022, developed in partnership with Klappir.
These reports for the fiscal year 2022/2023 are accessible within Hagar's annual and sustainability report and individual reports located further down the page for reference.
