Governance
Part of a bigger plan
Sunrock, a fully owned subsidiary of COFRA Holding, benefits from the heritage of a family-owned business spanning six generations. It is COFRA's mission to amaze customers and be a force for good, both in what we do and how we do it. COFRA's businesses are united by a common ethos and striving to bring about a more just society and sustainable world. They seek to create true worth – lasting value and a positive impact – in their respective industries.
COFRA’s strategy is to play a role in five of the major transitions taking place in society today. The energy transition is one of these groundbreaking movements that lie at the base of a better world. Following the acquisition of Sunrock in 2020, the Clean Energy Group within COFRA was founded last year. Through this business set-up, COFRA aims to support the capacity for growth and professionalization that the business needs and deserves. It provides Sunrock with the necessary space for business building. We are the rock of Sunrock, one could say ;)
What we would love to see is how Sunrock can be the “star player” to lead and show the way in the industry. Are we able to contribute to unblocking the system and overcoming (apparent) showstoppers, like grid-congestion? Can Sunrock take the lead in developing smart storage and trading solutions in the C&I space?
As for ESG, we believe that being part of our group means that Sunrock has a responsibility to face and act on the facts. Solar is a ‘good’ proposition in and of itself, but as this report also shows, there are challenges in the process of developing sustainable energy solutions. What is great to see is that Sunrock has the drive to challenge the status quo, and to make tangible steps, by taking action and developing practices that are inspiring the entire industry. This approach fits well with COFRA's vision and strategy.
Together we are able to push fossil fuels out!"
Striving for better
Sunrock’s parent company COFRA Holding is involved and aligned in every ESG step of the way. A word with Jheroen Muste, Executive Chair of COFRA's Clean Energy Group, on shared purpose and staying at the forefront of developments.
Jheroen: "COFRA’s mission is to amaze our customers and be a force for good, both in what we do and how we do it. This has been the purpose of the family owners for the past 180 years, and traces back to how the founding brothers Clemens and August Brenninkmeijer thought about building their business. It has always been about positive impact, about taking responsibility. Building a strong business, in a society-driven way. It means thoroughly thinking through both what you do and how you do it. Demonstrating leadership through action, in making things better step by step. To stay aware of the problems, and continue to look at what is not yet good enough.
Jheroen Muste
Executive Chair, COFRA Clean Energy Group
Corporate governance
Sunrock’s corporate governance structure comprises the Board and the General Meeting of Shareholders. Our internal Investment Committee and external auditor are part of this structure.
The Board of Sunrock consists of five statutory directors all of which are jointly authorised to represent the company. The Board is responsible for sustainable long-term value creation by the company. The ESG manager provides a quarterly update to the executive on relevant developments, progress and opportunities relating to the different ESG topics.
Sunrock is controlled by COFRA. Sunrock complies with internal guidelines and procedures to ensure that COFRA is involved in crucial decisions.
Internally, Sunrock’s Investment Committee assesses compliance with our investment guidelines. They bring an integrated view on opportunities and risks associated with investments, including sustainability.
Within Sunrock, teams have been established to train, advise and support the organisation in matters of health, safety and environment and quality management (in line with ISO9001 and ISO14001).
Clean Energy
governance
Sunrock governance
Sunrock Investment
Committee
COFRA AG
Board
Jheroen Muste (Executive Chair)
Otto Jager (CFO)
Board
COFRA Solar Energy B.V.
Proxy holders
Board:
Johannes Duijzer (CEO)
Otto Jager (CFO)
Elisabeth Stevens (COO)
Wessel Wisman (Executive Director Energy & Assets)
Hugo Willink (Executive Director Development)
COFRA Clean Energy Group B.V.
COFRA Solar Energy B.V.
Sunrock Investments B.V.
Governance structure
Sunrock Board
Photo from left to right: Elisabeth Stevens (COO), Wessel Wisman (Exec. Dir. Energy & Assets), Otto Jager (CFO), Johannes Duijzer (CEO) and Hugo Willink (Exec. Dir. Development)
Sunrock is structured into these 3 business units, each with specific focus and responsibilities.
Operational governance
Development Business
Sunrock Development realizes large scale solar rooftop installations, battery energy storage systems and energy management systems. The clean energy that we produce is made available to users of the building, thereby sustaining their business operations. Energy that is not directly consumed is stored in on-site battery systems or fed to the public grid and our energy management systems optimize local energy consumption and distribution.This unit is dedicated to the realization of more assets across Europe. It is primarily focused on identifying, planning, and executing new projects and initiatives to expand Sunrock's asset portfolio.
Energy & Assets Business
This division is responsible for monetizing solar energy production and maintenance of operational assets. It oversees the commercial aspects and ensures the efficient and profitable operation of Sunrock's assets. Energy & Assets optimizes the technical and financial performance, maximizes revenues through energy trading and sells generated energy to the market.
Ground Control
As the ‘central brain of Sunrock’, this unit encompasses all staff functions, supporting the key business lines with processes, tools and guidelines. Additionally, it is tasked with ensuring financial and governance compliance within the organization. The intelligent unit shares lessons learned and synergies across the company. They are responsible for innovation, anticipating future disruptions and exploring ideas to drive change and innovation. Ground control also guides the business in the right direction, supporting the business to navigate through stormy weather, and work smart and efficiently.
Integrity and Compliance
We cherish our culture of transparency, integrity and ethical behavior. To guard this, Sunrock established the necessary policies and procedures. These ensure compliance with legal and regulatory requirements, as well as internal guidelines and best practices.
Compliance is an ongoing process that requires monitoring and improvement. To ensure that we remain relevant and effective in addressing current and emerging risks, Sunrock regularly reviews and updates its compliance processes.
We encourage employees to speak up about any potential violations of laws, regulations, or company policies. The company has a zero-tolerance policy towards retaliation against anyone who reports such violations in good faith. Various channels exist through which reports can be made (anonymously)
A culture of Integrity and compliance is elementary in Sunrock’s sustainable growth. Not only a legal and ethical obligation, but also a strategic imperative. By maintaining high standards of integrity and compliance, Sunrock is able to build and maintain trust with all stakeholders.
In 2023 we implemented our Speak Up portal, which is hosted by an external party. In consultation with the Works Council, Sunrock adopted a protocol for conducting investigations and, together with the individual involved, determining the appropriate course of follow-up action.
Beyond our own operations, Sunrock expects its suppliers, contractors, and other business partners to comply with all applicable laws and regulations, as well as Sunrock’s ethical standards. We conduct due diligence on potential business partners to ensure they meet our standards.
Sunrock defined clear tasks and responsibilities for signaling laws and regulations, analyzing applicability, impact, and the required measures, taking ownership for implementing new laws and regulations and monitoring compliance.
We provide employees with resources, including training, an information library and relevant updates on the intranet. The Employee Code of Conduct contains expectations and guidance on professional integrity and business ethics. In situations of external contracting, the four eyes principle is applied.
Sunrock’s privacy policy serves as a guideline. The policy is dynamic and may be supplemented or revised from time to time due to changes in the organization, business processes, information systems or the law.
Trust, Approachability & Being Holistic. These are the values of Sunrock’s Works Council (SWC). 2023 was its first fully operational year. A year of getting to know each other, embedding it within the organisation and structuring the collabouration with the People Team and board.
Sunrock wants to empower its employees to do what is good for themselves, and by doing so, to be the best version of themselves at Sunrock. SWC works openly, transparently and proactively on Sunrock thriving. The council takes it as their responsibility to make sure that Sunrock is a healthy organisation, with a long term future perspective and that it is acting in the interests of both Sunrock and its employees.
Meet the team
The Works Council consists of Bob Riemslag, Elliot Morgan, Lotte van der Molen Kuipers,
Phuong Anh Nguyen and Tijmen van de Leemkolk.
Works Council up and running
13 internal Sunrock Works
Council meetings
7 meetings with Sunrock
executive team
2 days of training for works
council members
2023 achievements
Deliverables
Behind the scenes
3 requests for consent
1 request for advice
Sunrock Works Council Covenant
Sunrock Works Council Rules of Procedure
Sunrock Works Council Introduction movie
Advice COO and HR
Topics in 2023
How did the Sunrock employees see us?
Pilot unlimited holidays
Change organisational structure into 3 pillars
On-call shift Energy & Assets
Lunch catering proposal
KPI’s and impact on bonus for 2024
Engagement survey and setting up working groups
Engagement score
Sunrock continues to grow rapidly, especially outside of the Netherlands. This means that there are more and more German and French employees. The council is currently exploring what is the best way to work together and represent the interests of all teams.
In 2023 SWC worked on many strategic decisions in close collabouration with the board. This mainly happened behind the scenes. Like the Engagement Survey results showed, the work and contribution of SWC is not always visible to all Sunrock employees. In 2024 visibility will therefore be one of our main focus points.
Since the foundation has been laid and SWC is now a fully functioning team, it is time to add more value to Sunrock by proactively putting ideas on the agenda for the People Team and the board. For this, the entire organisation is involved and called upon to share ideas for making Sunrock a better (work)place.
What’s next?
Speaking up at Sunrock
Sunrock is committed to growth and continuous improvement, valuing transparency and ethical conduct in all aspects of our operations. To foster an environment where everyone feels safe and empowered to voice concerns, we have implemented comprehensive mechanisms for reporting and addressing misconduct.
Whether it is harassment, bullying, discrimination, or other forms of unfair behavior, we want to know. Our goal is to learn, resolve, and prevent any misconduct, ensuring a safe and respectful workplace for everyone. From employees to contractors and job candidates, anyone can report their concerns.
In 2022, we introduced dedicated confidential counsellors to support Sunrockers facing undesirable behavior or conflicts. Joost Haverkamp, our Internal Confidential Counsellor, reflects on his role:
“Organizational changes in 2023 led to insecurity among employees. Most cases involved communication issues between managers and staff. I provided support, and although not all cases were fully resolved, employees appreciated my involvement. People know they can find me for a listening ear.”
To further support our team, we plan to nominate an external confidential counsellor in 2024, providing an additional layer of support for those who prefer external guidance.
A safe haven for guidance
Joost Haverkamp
Project Manger & Confidential Counsellor
Ensuring accountability
Shout out to bravery
In 2023, we launched a whistleblowing system for stakeholders to report legal violations observed in work-related activities. This system allows anonymous reporting and is managed by our General Counsel and ESG Manager, who evaluate and verify reports, forming an investigation team if necessary.
We ensure timely communication with reporters about the investigation process, with the Sunrock Board providing written outcomes within two weeks of the investigation report. We uphold a zero-tolerance policy towards retaliation, protecting both the reporter and the accused from negative repercussions.
We consider speaking up as an act of bravery and an essential component of our ethical framework. Sunrock is dedicated to protecting and supporting those who report misconduct, ensuring our workplace remains a place of respect and integrity. As we grow, our commitment to improving every day remains unwavering, reinforcing our dedication to transparency and ethical conduct in all we do.
Resolving conflicts
For internal conflicts related to employment conditions, we offer independent mediation services. This ensures that employees have access to impartial resolution processes, fostering an amicable work environment.
There’s always a way
Sunrock provides other reporting avenues as well. There is the COFRA speak-up channel, the Renewable Energy Agreement complaints and dispute committee and the OECD National Contact Point for Responsible Business Conduct
Your honest opinion
To maintain the effectiveness of our speak-up system, we conduct quarterly evaluations with all individuals involved. These meetings focus on sharing learnings, challenges, and opportunities for improvement. The outcomes are shared with Sunrock management and the Works Council for necessary follow-up.
Data Security: taking responsibility
As fast as our industry changes, as important it is to keep up with upcoming risks and preventative measures regarding our online safety. By creating a culture of security awareness, we can minimize the risk of security incidents. We have implemented robust information safety measures and continuously enhance them to protect against breaches and losses.
Training
All Sunrockers undergo mandatory cybersecurity training. This training increases awareness levels and provides practical skills to stay cyber safe. Employees are trained to handle sensitive information carefully, and strict access controls make sure that only authorized personnel can access sensitive data.
The industry
We participate in the creation of strong information security standards for the industry through our seat in the Dutch solar industry association, Holland Solar. This collabouration enables us to stay up-to-date with the latest best practices and contribute to the development of the industry's security standards.
Independent audit
Sunrock undergoes an annual information security audit to assess IT security risks and compliance. This audit is conducted by an independent third-party auditor and helps identify areas for improvement. The outcomes of these audits are consolidated and put into actions for improvement.
Incidents and response
During 2023 no major security incidents and/or breaches occurred. For potential security incidents we have an effectively tested Crisis Management Team process in place.
Cloud
Our cloud content management system enables teams to securely share files and collaborate. This monitored space includes robust security features, such as threat detection, file classification and continuous logging and monitoring. Our data is well protected against unauthorized access and other security threats.
2023 was a great year for Quality Management. Sunrock was recertified for ISO 9001 & 14001 within the Netherlands as well as Germany, after successful completion of the audit by an accredited third-party ISO auditor.
Sunrock showed evidence of how goals are set, how we work towards them and how we evaluate our performance. The requirements of ISO 9001 help Sunrock to ensure compliance with legislation and regulations, meeting customer expectations, and continuously improving our internal organization. The environmental management system in accordance with the requirements of ISO 14001 is an integral part of our mission and vision.
Keep growing
Optimizing our processes requires strong cooperation between our employees. They continuously develop themselves through new insights, gained from projects as well as shared knowledge and experience. A combination of risk assessments, internal project evaluations, customer satisfaction reviews and internal audits ensures continuous improvements within our processes. The translation of these improvement ideas into actions requires efforts from all Sunrockers. It is the only way we can keep growing and developing ourselves.
Quality Management and optimization