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A N N U A L R E P O R T 2024/2025
Governance G1 Business conduct G1, SBM-3 Material impacts, risks, and opportunities Good governance and sound business conduct are the foundation for a healthy, thriving company, and a necessity for achieving our ESG ambitions. Our DMA identified corruption and bribery as a potential negative material impact and risk over the short, middle and long term. Material impact, risk or opportunity
IRO Time horizon
Corruption and bribery: Corruption and bribery could result in unethical or illegal actions which in turn could negatively impact fair competition and have indirect negative environmental consequences
Negative impact, risk
Short term
Value chain All stages
G1-1 Policies We foster a robust corporate culture through strong leadership commitment, targeted communication, and periodic awareness campaigns that make business ethics and compliance a visible priority within our organization. Our efforts are underpinned by the policies below. All of these are available internally on our Intranet platform, and all except for the Anti-Bribery and Corruption are publicly available online on our company website. We review and, if necessary, revise the policies every two years to meet the evolving requirements and expectations of a wide range of stakeholders, as assessed in our materiality assessments.
Code of conduct Our Code of conduct serves as a foundation for our ethical principles, defining a set of rules, principles, and values that we consider essential for our long-term success. It provides clear guidance on the expected behaviour of all employees within the company and their interactions with stakeholders and business partners.
The Code details our ethical standards across a wide range of areas, including fair employment practices, discrimination and harassment, workplace health and safety, bribery and corruption, conflicts of interest, competition law, data protection and privacy, antimoney laundering, political activities and donations, and environmental protection. It aligns with international standards for human rights and responsible business conduct. The Code is available in 9 languages and is easily accessible for all employees. We have a broad communication strategy to keep employees informed and engaged in upholding our Code of Conduct, including regular communication on updates. A user-friendly, mandatory e-learning module helps employees to understand the Code of Conduct and how to act when faced with common dilemmas. We aim for a bi-annual training frequency for white collars and we are investigating how we can address the most relevant topics of the Code for blue-collar audiences. The Code is overseen by our Group Governance & Compliance department and our Audit Committee. The Group CEO is accountable for its implementation.