As part of corporate governance, our ethical guidelines and Code of Conduct aim to ensure that all employees comply with laws and regulations in their daily work, and that anticorruption legislation is respected. For example, we do not conduct business that is inappropriate based on ethical considerations.
A risk of corruption can exist in business relationships with customers and in procurement of equipment and services. The purpose of the Code of Conduct is to emphasize the fundamental principles that govern the way we conduct our operations and manages relationships with employees, business partners and other stakeholders.
To ensure that our employees comply with the company’s Code of Conduct, there are detailed processes and guidelines regulating the approval and granting of individual transactions. All major deals are reviewed by an internal committee that includes the entire Management Team, and sensitive transactions involving technology subject to export controls are reviewed correspondingly, regardless of the size of deal. We have refrained from doing business with countries and companies that are unsuitable for various reasons.
Furthermore, we have an ESG Committee that reports to the Management Team. It is chaired by the Chief Marketing Officer and is composed of representatives from external communication, environment and quality control, and human resources.
To further improve ESG work and measure progress, we are rated by independent agencies on a regular basis. In recent years, CDP (www.cdp.net/en) has evaluated the company in terms of sustainability, and EcoVadis (www.ecovadis.com), within responsible business. This has resulted in a number of concrete actions, such as formulating targets for renewable energy consumption and for reduction of CO2 emissions.