OUR GOVERNANCE
Our commitment to Business ethics starts at the top and is embedded in every level of our company.
Alkagesta Corporate Governance Structure
Governance
At Alkagesta, we acknowledge the crucial role that robust corporate governance plays in creating long-term value for our stakeholders. We continually strive to uphold high governance standards and practices. In 2022, we significantly enhanced our corporate governance by restructuring our management to facilitate more efficient and effective decision-making processes.
Board of Directors
Our Board of Directors, appointed by shareholders, is responsible for devising and executing the company's strategy.
Audit Committee
The Audit Committee, reports directly to the Board of Directors and supervises the integrity of the company's financial reporting, internal controls, and risk management systems. The committee also monitors the performance and independence of external auditors, ensuring adherence to established guidelines and regulations.
The Executive Board
The Executive Board oversees day-to-day business operations, policies, procedures, and budgets, ensuring proper oversight of key business areas.
The Executive Board has established the following committees: Risk Committee; Finance and Investment Committee; Trading and Business Development Committee; and ESG and Compliance Committee
Risk Committee
The Risk Committee identifies, evaluates, and manages risks impacting the company's financial performance, operations, and reputation, ensuring appropriate risk management processes are in place and effectively communicated to stakeholders.
Finance and Investment Committee
The Finance and Investment Committee oversees capital management, financial planning, and investment activities, ensuring alignment with the company's strategic objectives and risk appetite.
Trading and Business Development Committee
The Trading and Business Development Committee guides the company's trading activities and business development initiatives, ensuring compliance with relevant regulations and ethical standards while supporting growth and diversification objectives.
ESG and Compliance Committee
The ESG and Compliance Committee is vital for overseeing the company's activities in compliance and Environmental, Social, and Governance matters. The committee assesses the company's ESG performance, identifying and addressing key ESG risks and opportunities. This includes reviewing ESG-related policies, procedures, and initiatives, and monitoring progress towards ESG goals and targets. The committee is critical in integrating ESG considerations into the company's business strategies, operations, and risk management processes.
Risk Committee
The Committee assists the CEO in fulfilling its oversight responsibilities concerning the risk appetite of the company, the company’s risk management and compliance framework, and the governance structure that supports it.
Audit Committee
The primary purpose of a company’s audit committee is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls, and compliance with laws and regulations.
ESG and Compliance Committee
The Committee oversees the company’s activities in the area of compliance (“Compliance Program”) and Environmental Social Governance that may impact the company’s business operations or public image, in light of applicable government and industry standards, as well as legal and business trends and public policy issues.
Trading and Business Development Committee
Serves as a focal point for the consideration and coordination of work on development in the Alkagesta. It considers a broad range of issues relating to trading and business development.
Finance and Investment Committee
Appointed by the joint decision of the CEO and UBO to oversee Alkagesta’s responsibilities relating to the financial affairs of the company and to make recommendations to the Board in connection with the company’s investment guidelines, investment assets allocations, and financing activities.
Business Ethics
Acting in a responsible manner is of paramount importance at Alkagesta. Our values help our business navigate challenges, provide exceptional service, and retain and grow quality employees. We believe our success is owed to our commitment to creating value for our clients, employees, shareholders, and communities where we operate via adopted ethical standards.
We create jobs, build a healthy work environment, develop the youth of our host communities, and care about our planet and people by applying high safety standards and ethical practices in our daily business.
Alkagesta's ethical behavior in business includes the following building blocks:
Environment
Alkagesta recognizes the need to protect the natural environment and therefore we have adopted the Environment Management Practises that apply to all offices and businesses of Alkagesta.
Operating the business in the most efficient way is the primary goal of Alkagesta, we are constantly working toward mitigation of the possible impact on the environment and the local communities that we work in.
Our aim is to work in respect of our surroundings, to prevent and control pollution, and provide economic benefit to local communities, our customers, and suppliers.
Our environmental KPIs and focus areas, such as pollution prevention, waste management, and resource efficiency, are aligned with the UN Sustainable Development Goals
Anti-Bribery
Alkagesta has zero tolerance for any bribery. Offering, giving, requesting, or receiving bribes in any form by the employees within the Alkagesta.
The board of directors and all employees of Alkagesta are committed to complying with the Anti-bribery Policy, and local anti-bribery legal framework, including, but not limited to, Codes, Laws, and other statutory and legal documents, in the markets we operate wherein the key requirements impose strict prohibitions as to giving and receiving bribes, taking part in commercial bribery and mediating a bribe.
Choice
Alkagesta believes in the power of Choice. We choose trustworthy relationships between our counter-parties and employees. We choose to act responsibly. We choose fairness in the treatment of conflicting situations. We choose honesty in any environment and keep our promises in ever-changing conditions. We choose to care and respect. We choose to create Alkagesta Legacy for future generations.