Gov­ernance

Does this matter?

With the publication of a sustainability report, Harpa's powerful management and staff group shows a clear intention and desire to secure Harpa's place among the world's leading cultural institutions in the field of social responsibility. In today's society, success is not only judged by the sound quality in a concert hall or the picture that appears in the financial information in the annual accounts. The image and success of music and conference venues is determined by the conversation with society, a conversation that includes a much broader approach than we have seen before. This is also accompanied by a strong demand that information be verified and tangible. Facts related to the business that we take for granted are put into words, but we approach other more complex challenges with caution, take short but determined steps and aim for the greatest possible success in all areas.

In its simplest form, sustainability consists of companies, organizations and all kinds of organizations taking responsibility and having a constructive impact on the environment, governance and society. In the structure and strategic planning, consideration is given to all the stakeholders involved in the operation of organizational units in one way or another. Sustainability and social responsibility are implemented in the core activities of the business unit, where international UFS standards are followed. In sustainability, there is a clear intention that we leave to the next generation a situation that is comparable, even better, than we took it.

Socially responsible thinking is a source of new business opportunities and a power source that gives us inspiration and power to improve our results and be more competitive in domestic and foreign markets.

With social responsibility and sustainability as a guide, Harpa will continue to work towards its goals of being both a world stage and home ground for cultural life and an important participant in the development of Icelandic business life and tourism.

Owners policy  

Harpa operates in accordance with a specific ownership policy that entered into force in 2012. In addition, the general ownership policies of the Icelandic government and the city of Reykjavík apply from 2022, but they are intended to ensure transparent, professional and efficient management of the company. They include, among other things, provisions on governance and administration, accountability, communication and disclosure to owners. Harpa's Owners' Committee is made up of six representatives, three from each owner, and its main role is to coordinate the owners' views on the company's issues.

Further information

Governance

The Board of Harpa Concert Hall and Conference Centre strives to maintain good governance and follows the "Guidelines on corporate governance" issued by the Icelandic Chamber of Commerce, Nasdaq Iceland and the Swedish Confederation of Trade Unions in 2021. The rules of procedure of the board of directors include, among other things, rules on the order of meetings, rules on confidentiality, disclosure of information by the CEO to the board, and more. The rules are available on the company's website, along with the code of ethics of the board and staff. The Board of Directors has also established a remuneration policy which is published on the company's website. The group's board decides the remuneration of the CEO. There were 11 board meetings during the year.

Greiðslumiðlunin Hringur ehf.

Main activity and purpose of the company Greiðslumiðlunin Hringur ehf. is part of the group Harpa Concert Hall and Conference Centre ohf. (Harpa ohf.) The purpose of the company is to take a loan for the construction of Harpa at Austurhöfn in Reykjavík and handle the payment of the loan in accordance with agreements.

The contribution of the state and the City of Reykjavík for the construction and financing of Harpa goes to the payment of the loan and is mortgaged against the company's debts. The contribution is based on an agreement on Harpa's operations and activities, where the Treasury of Iceland and the City of Reykjavík undertake to pay a monthly contribution for 35 years to Harpa. Initial payment was in March 2011 and payments will end in 2046.

Rekstrarfélagið Stæði slhf.

Main activity and purpose of the company

The company's purpose is to manage the Car Park of Harpa Concert Hall and Conference Centre at the East Harbor in Reykjavík. The company is a limited liability company and an independent tax entity. Taxable profit is taxed by members on the basis of share ownership. The company's holding company is Harpa Concert Hall and Conference Centre. (Harpa).

Rekstrarfélagið Hörpustrengir ehf.

Main activity and purpose of the company

Rekstrarfélagið Hörpustrengir ehf. organizes cultural events in Harpa Concert Hall and Conference Centre. The company's activities in that area pertain to music and cultural events that are neither considered to be in competition with other entertainment markets nor regular users of Harpa Concert Hall and Conference Centre.