Responsible business practices

To gain our customers' trust, we must act with high ethical standards and professionalism. We have zero tolerance for corruption, kickbacks, or other incentives that may influence a business transaction. Our values guide us in all our relationships, including with our customers and partners.

Code of Conduct

We require our employees and suppliers to sign and follow our Code of Conduct policies. We regularly audit our direct hardware suppliers to ensure they comply with our Code of Conduct for our Suppliers. The audit results are followed up with each hardware supplier. 

We have also launched a certification process for hardware suppliers to ensure that the materials they use have been manufactured following laws that prohibit forced labor and human trafficking.

Suppliers who violate our code of conduct may face consequences and even have the relationship terminated.

We also encourage our employees, suppliers, and customers to report unethical behavior such as forced labor and human trafficking.

To demonstrate our position on this issue, we have committed to Section 54 of the Modern Slavery Act 2015.

Sustainable investments and procurement

All our major investment decisions include a sustainability evaluation. Before a decision, an analysis of social factors such as human rights, the work environment and environmental impact must be conducted. The decision also includes climate considerations and internal carbon pricing.

Whistleblower function

We have a web-based whistleblower service managed by an independent third party to guarantee anonymity. This reporting tool is provided by WhistleB. The channel for anonymous reporting can be reached here. 

Governance 

The Board of Directors has the overarching responsibility for strategy, sustainability, ethics, and results. Our CEO and management decide on short-and long-term targets, focus areas, and priorities. The Sustainability Steering Committee supports the CEO and management, business areas, and Group functions. The business areas identify and execute activities to reach short-and long-term targets.

 

To learn more in detail about how we work with sustainability at Munters see page 71 of our Annual and Sustainability Report.

Progress 2023

Code of conduct for suppliers The target is that 100% of our largest suppliers will sign the Code of Conduct		100% Outcome 2022: 100% Outcome 2021: 100%
Training in code of conduct In total, 51% of all employees were trained during 2023, and 71% have completed the training measured over a 2-year period.		71%

Sustainable Development Goals (SDGs)

The activities that Munters carries out in the area of responsible business practices support the following areas in the UN’s 2030 Agenda for Sustainable Development: 

More about the SDGs and how we contribute to sustainable development.