Business practices
Key measures and evaluation
Business practices and potential issues are regularly discussed by senior management during monthly Management Committee meetings, and remedial measures implemented if necessary.
| Measures | Targets 2021 | Progress and achievements 2021 |
|---|---|---|
| Online compliance trainings | Continued online compliance trainings for commercial and administrative employees, including management New training on social compliance | In 2021, 97% of employees finished the compliance trainings they were assigned for. All commercial employees as well as employees from administration and operations participated. New training on social compliance about preventing discrimination, was added in our online compliance trainings in 2021 |
| "Code of Conduct" | Review | Update of “Code of Business Conduct”: Inclusion of our “Equality, Diversity and Inclusion Policy” Zero confirmed incidents of corruption have been recorded in 2021 |
| "Corporate Social Responisbility Policy" | Review | Preparing document review for 2022 |
| Export control procedure | Continue training of employees on new export control procedure implemented in 2019 Compliance with the respective export control law Avoidance of infringements against export controls Creation of uniform standards | A completion rate of 93% (of relevant employees) was reached for export control training in 2021 |
| Whistle blowing system | Monitoring of whistle blowing procedure | In 2021, one misconduct was recorded via our external whistle blowing hotline. After a thorough investigation by a third party the allegations were confirmed. Disciplinary actions were executed |
Outlook
In order to keep up our high standards in business practices, compliance trainings are conducted biennially from 2021 onwards.
To prevent liability risks, internal and external audits will be carried out on a regular basis. Further internal communication on the whistle blowing service will be conducted in all relevant teams in 2022.