Sustainable development and finance
The business generates a financial value that is distributed among the various stakeholders. Sourcing represents a large expenditure item, wages and pension plans generate value for our employees, and by paying taxes and employing people the company contributes to local societies in the countries where we are active.
Business Ethics Guideline
This document guides the employees in matters concerning what is and what is not permitted in business contacts with customers, suppliers, competitors and distributors. Deeper guidelines are provided in a detailed Compliance Program, in which all managers in the Group confirm with their signatures that they are complying with the rules. The managers participate in compulsory training programs in the area. There is zero tolerance of non-compliance in respect to business ethics. Online training courses are implemented, which includes an examination on international legislation concerning cartels, competition and prohibited forms of business cooperation. So far, more than 150 managers and employees in purchasing and sales attended the training. Under “Materializing Our Values”, and the tenth principle of the UN Global Compact, integrity and responsibility shall characterize our business practices. HEXPOL takes a zero-tolerance approach to bribery, corruption and cartel formation. For a global company, these matters are complex and the perception of “normal business practice” varies between countries and cultures.
The whistleblowing system empowers all employees to blow the whistle to bring irregularities concerning the code of conduct to the attention of the Board of Directors and company management.
Methods for Governance and Monitoring of Corruption-Related Issues
- HEXPOL spread shared values in the form of Materializing Our Values. Group company management teams are responsible for further conveying the values in their organization. As mentioned above, senior executives are targets for an advanced on-going training program.
- HEXPOL monitors costs, expenditures and revenues on an on-going basis.
- Particular attention is paid to ethical issues in our relationships with partners. Standard business practice must be observed in each individual country, but if business practice does not comply with Materializing Our Values, we must refrain from doing business or take alternative relevant actions.
- As a part of the sustainability-reporting scheme, management at every plant must reflect on actions that have been taken to reduce the risk for corruption. The questions are based on a questionnaire from Global Compact.