Governance and responsible business practices
To gain trust with customers and suppliers, we 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 our relationships with our customers, partners and colleagues.
Code of conduct
Our employees and suppliers must adhere to Munters Code of Conduct, which is based on the ten principles of the UN Global Compact. We monitor compliance annually and encourage the reporting of unethical behavior, including forced labor. We also follow Section 54 of the Modern Slavery Act 2015.
We have zero tolerance for corruption and provide regular training on the Code of Conduct. Our suppliers are audited to ensure compliance with our Supplier Code of Conduct, and they may face disciplinary actions for violations.
In 2018, we committed to the UN Global Compact's ten principles on human rights, labor, environment, and anti-corruption, integrating them into our Code of Conduct to guide our business practices.
Whistleblower function
The whistleblowing procedure helps employees report serious concerns about issues at Munters. We are committed to addressing any reported wrongdoing by Munters or its employees, consultants, contractors, or suppliers. Such reports will be handled promptly, thoroughly investigated, and result in corrective actions where necessary. We will also explore ways to prevent similar issues from arising in the future. Employees can submit whistleblower complaints in different ways. They can use our Global Ethics Committee or anonymous channels. These channels are provided by an external provider, both globally and locally.
The reporting tool, provided by WhistleB, can be accessed here.
Anti-bribery and anti-corruption policy
The Anti-Bribery & Anti-Corruption Policy enhances the Code of Conduct, setting standards for interactions with external parties and public officials. It mandates zero tolerance for bribery and corruption, covering areas like gifts, entertainment, third-party travel, business partners, conflicts of interest, sponsorships, charitable contributions, discounts, commissions, and facilitation payments. Detailed guidelines ensure compliance. We also have a zero-tolerance policy on fraud, committing to the prevention and thorough investigation of any suspected fraudulent activities, reflecting our dedication to ethical business practices and integrity.
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 Core Team supports the CEO and management, business areas, and Group functions. The business areas identify and execute activities to reach short-and long-term targets.
EU Taxonomy and CSRD
At Munters, we follow the latest EU directives. Our reporting aligns with the EU Taxonomy and, from the operating year 2025, we will report in aligment with the Corporate Sustainability Reporting Directive (CSRD).
With the introduction of the CSRD and its double materiality assessment, we are updating our materiality analysis. This includes assessing sustainability matters across our entire value chain from two perspectives:
- Impact Perspective: How we affect people and the environment through our operations.
- Financial Perspective: How societal factors impact Munters, including risks and opportunities affecting our financial performance.
To read more about our compliance and stakeholder dialogue check our Annual Report.
Read more about our sustainability work
Environment and resource efficiency
We are dedicated to delivering sustainable products, solutions, and services that help our customers enhance both resource and energy efficiency. We are committed to reducing emissions and minimizing the climate footprint across our entire value chain.
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Society and people
We strive to be just and inclusive to create a high-level of engagement. Diversity gives us new perspectives and valuable insights. We work collaboratively to benefit our customers, society and the planet.
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Follow our progress
Sustainability is integrated into the business strategy and we have set ambitious goals regarding emissions, resource efficiency, diversity, safety and ethical business practices.
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