Human Rights and Modern Slavery Statement
For the financial year 2023
Introduction
Our Human Rights and Modern Slavery Statement (hereafter “Statement”) outlines MFT Energy A/S and its subsidiaries’ (hereafter “MFT Energy”) commitment to preventing slavery and human trafficking in our business activities. This Statement furthermore details the measures taken to ensure that no slavery or human trafficking is present in our operations. MFT Energy acknowledges the UK Modern Slavery Act from 2015 and supports its objective to eradicate forced labor and human trafficking.
We strive to be the best possible company for the benefit of our employees as well as our business partners. Additionally, we aim to contribute to the society we are a part of, and as an integrated part of this ambition, we support and comply with internationally recognized principles for environmental protection, human and labour rights, business ethics and anti-corruption.
Who are we?
MFT Energy and its subsidiaries serve as an independent trading hub specializing in power and gas. Established in 2016, we conduct trading operations 24/7 across 38 countries worldwide. Our trading expertise restores energy balances and enhances market efficiency. We engage in physical and financial trading. The supply chain of MFT Energy is comprised of several suppliers.
How we incorporate our Statement into our culture
Our Statement sets out our position in line with internationally recognized human rights principles. We host the Statement on our website and review and confirm that we comply with the Statement every year. Our Statement is incorporated in our business culture through our Code of Conduct and our commitment to ESG (Environment, social, governance) principles. Furthermore, we make a great effort in enforcing our Statement by setting the tone from the top. We have built a culture where employees can feel free sharing ethical dilemmas and protentional violations if rules, legislation, ethical standards, and internal rules are not complied with. This is facilitated by our robust whistleblower policy, which encourages transparency and accountability throughout our organization.
How we ensure human rights risks
At MFT Energy we have policies and procedures to ensure that human rights risks are identified, assessed, and addressed. We ensure that all employees in all countries we operate in are recruited lawfully both international and national. Therefore, we have HR management procedures for all relevant countries to ensure compliance. In addition, we require that all employees have valid residence and work permits to ensure that they are living and working legally in the country in question.
Due diligence and risk assessment
MFT Energy considers its position within the energy trading industry as having a low risk for modern slavery. MFT Energy expects its suppliers and business partners to ensure that modern slavery does not occur within their supply chain. Modern slavery is a global issue that typically occurs within industries where labor is intensive, low skilled and underregulated across supply chains. Even though MFT Energy’s position within the energy trading industry is identified with low risk, MFT Energy make a great effort in reviewing any ongoing relationships with an organization if issues are identified and are not resolved to our satisfaction. Additionally, we maintain a strong Know Your Counterparty (KYC) process to ensure that we thoroughly understand the companies we engage with, further mitigating any potential risks related to modern slavery within our supply chain.
Setting the tone from the top to ensure compliance
In order for us to effectively deliver on our Statement key personnel in our business need to have sufficient understanding of this topic and our approach to risk identification and management. This is why we make a great effort to set the tone from the top, which ensures awareness on a continuing basis. Having strong competencies within compliance is essential to ensure an ongoing strengthening of MFT Energy’s overall governance. We know that our systematic approach and constant focus on documentation and compliance ensures a high level of governance.
Accountability for human rights and modern slavery relating to our business resides with the Chief Executive Officer. Our Head of Compliance is responsible for the day-to-day management of the Statement
Our commitments
MFT Energy monitors and evaluates its processes on a continuing basis to ensure an effective approach to prevent slavery to take place in any part of our business. At MFT Energy, we are committed to respecting human rights in everything we do and comply with the UN’s 30 articles regarding Universal Declaration of Human Rights.