Management principles and structure

Management Principles

The goal of Enefit Green's Supervisory Board and Management Board is to develop and lead the company to serve as a benchmark for other enterprises in terms of strategic clarity, good governance practices, efficiency, financial performance, and collaboration.

As a publicly listed company on the NASDAQ Tallinn Stock Exchange, we adhere to the highest standards of corporate governance. In addition to the Commercial Code, we follow the Good Corporate Governance Code approved by the Financial Supervisory Authority and the rules applicable to listed companies. Our management principles are rooted in the company’s strategy, core values, and shareholder expectations.

We aim to maintain transparency in our operations, information disclosure, and relationships with shareholders, customers, partners, and stakeholders. We present and explain our financial results quarterly, publishing reports and related presentation materials on our website. To enhance transparency, we also publish and comment on key production metrics on a monthly basis.

Code of Ethics

We adhere to the Code of Ethics of the Eesti Energia Group, which establishes, among other principles, that our organizational culture is free from discrimination, harassment, humiliation, and other inappropriate behavior. All employees are treated fairly and equally, regardless of nationality, age, race, gender, language, origin, skin color, religion, disability, sexual orientation, or political or other beliefs.

All Enefit Green employees have completed ethics training. In 2023, we conducted additional training across all home markets, focusing on the prevention of corruption and tailored to the specific legal contexts of each market.

The ethical standards for partners are outlined in the Eesti Energia Group Code of Ethics for partners, which we also apply. Among other aspects, the code specifies minimum requirements for fraud and corruption prevention, as well as adherence to employee rights and human rights.

Unethical behavior can be reported

Enefit Green internal audit department +372 4655605 (calls are responded to from 09:00-18:30), [email protected];
Law office +372 6407 101 or [email protected] in case there is no wish or possibility to present the information organisation internally.

Inform us

Enefit Green's governing bodies include the General Meeting, Supervisory Board, Management Board, and Audit Committee.

The General Meeting is the highest governing body of Enefit Green. The Annual General Meeting takes place once a year within six months after the end of the financial year, at a time and place determined by the Management Board.
The Supervisory Board appoints the Management Board and oversees its activities.
The Audit Committee advises the Supervisory Board on oversight matters.

Management Board

The management of Enefit Green is entrusted to the Management Board, which consists of four members appointed by the Supervisory Board. The Chairman of the Management Board also serves as the Chief Executive Officer. Other board members are responsible for production, finance, and development areas. The Supervisory Board also has the authority to revoke the appointment of any board member.

Juhan Aguraiuja

Chairman of the Management Board

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Innar Kaasik

Member of Management Board, Chief Operating Officer

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Andres Maasing

Member of the Board, Chief Development Officer

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Supervisory Board

The Supervisory Board of Enefit Green is a governing body responsible for planning the company’s activities, organizing management, and overseeing the activities of the Management Board. The Supervisory Board consists of five members.

Andrus Durejko

Chairman of the Supervisory Board

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Marlen Tamm

Member of the Supervisory Board

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Kristjan Kuhi

Member of the Supervisory Board

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Erkki Raasuke

Independent member of the supervisory board

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Karin Madisson

Independent member of the supervisory board

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The Audit Committee

The Audit Committee is an advisory body established by the Supervisory Board of Enefit Green. The role of the Committee is to advise the Supervisory Board of Enefit Green in the areas of accounting, auditing, risk management, internal control and internal audit, supervision and budgeting, as well as the legality of operations. The Committee consists of three members elected by the Supervisory Board for a term of three years.

Erkki Raasuke

Chairman of the Audit Committee

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Marlen Tamm

Member of the Audit Committee

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Governance