Environment, Social and Governance (ESG) related matters are an integral part of Optomed’s operations. The company is still rather small which enables the management to take ESG matters into consideration efficiently.
Optomed has identified manufacturing as one of its key ESG elements and the key ESG related risks are within the scope of manufacturing. Therefore, the ESG matters are taken into account when making resolutions with regards to manufacturing. Currently, Optomed’s devices are manufactured by an EMS partner that is a NYSE listed entity with its own strict sustainability requirements and reporting. This gives Optomed visibility and assurance that ESG matters are taken into account with regards to its device manufacturing.
Optomed has implemented a governance structure required for the Nasdaq Helsinki main list and implemented a significant amount of policies, including the code of conduct and whistleblowing that all employees are expected to follow. The code of conduct also highlights Anti-Bribery and Corruption (ABC) matters as they have been assessed to be extremely important due to the global nature of Optomed’s operations. The governance function has been strengthened significantly and new expertise has been brought to the board and audit committee. The governance structure is described in detail in Optomed’s Corporate Governance Statement.
Health technology is a regulated sector which also contributes to the company’s ESG approach. Optomed complies with RoHS, REACH, conflict mineral regulations and all applicable privacy, consumer protection and product safety regulations. Optomed’s compliance with respect to various medical devices related regulations is also audited by third parties regularly.