EQT, Electrolux, and DFDS named winners of EY Risk Transformation Awards in the Nordics

For the first time, the EY Risk Transformation Awards have been distributed in the Nordic region. EQT won the award in the digital transformation category, Electrolux in the resilience category, and DFDS in the sustainability category. All winners were chosen by an independent jury. The purpose of the award is to highlight the importance of risk management in transforming instability, uncertainty, and complexity into strategic competitive advantages. 

Today, companies face major challenges that place high demands on their risk management. Many risks are linked to climate change, technological development, demographic changes, and geopolitical instability. In addition to recognizing companies that work proactively with risk management, the purpose of the award is to serve as inspiration for companies that want to improve their risk management.

Last night, May 7, three companies were honored for their risk management during an event in Stockholm. The home appliance company Electrolux, the private equity firm EQT, and the shipping and logistics company DFDS received the newly established EY Risk Transformation Awards.

"With a changing world also comes a changed risk landscape. Risk management is not just about complying with statutory requirements but also about anticipating and managing future risks. Companies that have addressed their risk management in a good way are often more flexible and better positioned for long-term success. Good risk management also improves the ability to weigh risks against potential gains," says Ylva Bergström, partner in Risk Transformation at EY.

Jury's Motivations The EY Risk Transformation Awards are given in three categories: digital transformation, resilience, and sustainability.

EQT – Digital Transformation
The winner in the digital transformation category has shown an innovative, data-driven, and cloud-based model that uses advanced AI integration to enable real-time monitoring of exposure to internal and external cybersecurity threats. The management of cybersecurity risks is an integrated part of a solid risk management framework. The company has shown overall maturity in risk management, both in terms of strategic and business aspects, and has an innovative mindset and a proactive risk management culture. This enables growth and expansion while creating long-term value for stakeholders.

Electrolux – Resilience
Geopolitical turbulence has proven to be a fundamental cause of risk and can pose serious threats to continuity, resilience, and the delivery of business objectives. The winner in the resilience category has been judged to have high maturity in its overall risk management activities. The company has established and demonstrated an innovative approach to geopolitical risks and elevated it to a strategic yet tactical level. In collaboration with the ERM function, the winner has developed internal resources to assess geopolitical risks on the global stage, supporting the group's strategic decisions and asset allocation and increasing the robustness and resilience of the supply chains. This enables the company to develop high-quality scenarios that help transform uncertainty into business advantages and value.

DFDS – Sustainability
The winner in the sustainability category has established a goal-driven and decision-making board with a strategic mindset and focus on sustainability and reduced carbon emissions. The goal is to balance economic growth with long-term environmental responsibility. With a strong focus on sustainability, the company manages risks and opportunities proactively to create a sustainable future business model. The company has also established a special function responsible for coordinating all activities for reduced carbon emissions across the entire company and establishing a financial path to net-zero with high statutory requirements for their business sector.

An independent jury selected all winners. The jury consisted of Kristian Kallenberg, Doctor of Economics in risk management, consultant in GRC (governance, risk, and compliance), Stockholm School of Economics, Håkan Jankensgård, Associate Professor in Corporate Finance, Stockholm Business School, Øyvind Hestnes, Head of Risk Management, Yara International ASA, and Tiia Mukkala, Head of Risk Management, Fortum Oyj.

About EY Risk Transformation Awards
The EY Risk Transformation Awards is an annual award given to companies and organizations in the Nordic region. The purpose of the award is to highlight the importance of risk management in transforming instability, uncertainty, and complexity into strategic competitive advantages. Prizes are awarded in three categories: resilience, sustainability, and digital transformation. The choice of winners is based on interviews with nominated companies and submitted documents. All winners are selected by an independent jury with representatives from the business community and academia. In addition to recognizing winners, the award should serve as inspiration for companies that want to improve their risk management.