Business Ethics

Goal: ITAB should be perceived as an honest and transparent player in the market and in society

Through ITAB's Code of Conduct, all employees have a clear regulatory framework for, among other things, business ethics. Parts of the Code of Conduct have been communicated to ITAB's suppliers in the form of a Group-wide supplier policy. According to the Code of Conduct, ITAB has zero tolerance towards all forms of kickbacks, bribery and corruption. ITAB conducts regular audits and evaluations of internal checks across all subsidiaries, which provides reasonable assurance of effective and efficient operations, reliable financial reporting and compliance with laws and regulations.

 

Each company CEO within the ITAB Group is responsible for ensuring compliance with local regulations. The Group-wide Code of Conduct covers all ITAB employees and every employee must also sign to confirm that they adhere to this code. The Code of Conduct addresses, among other things, that each employee is valued, that the Group offers a healthy and safe working environment and works to reduce environmental impact. It also points out that ITAB stands for honest and direct style of communication, and that all employees must respect business confidentiality. If a business ethics question arises at company level, there is a system for how employees should report directly to the Group and how the issues should be handled. At the end of the year, approximately 97% of the Group's employees had signed the Code of Conduct. ITAB's goal is for all people in the Group to sign. Generally, in the case of new hires in Group companies, the line manager is responsible for ensuring that the employee understands and signs the Code of Conduct.

 

No known cases of corruption were detected in the Group during the year. ITAB has special reviews and training on anti-corruption, mainly in countries where the Group faces the greatest risks.Since the end of 2017, a Group-wide supplier policy has been in effect, containing basic business ethics requirements that ITAB imposes on its suppliers. In order to ensure that ITAB complies with GDPR regulations, GDPR training was given to employees whose roles require the handling of personal data.

 

An extensive valuation project named WE ARE ITAB was implemented in 2017. In 2019, with ACT as its basis, the valuation work has continued to increase knowledge about current situations, and to prepare companies for the transformational environment faced by retailers.

 

ITAB's tool for internal evaluation is based on the COSO framework. This is a framework for evaluating a company's internal evaluation of its financial reports. The framework streamlines the work on such evaluations. During the year, the internal audit programme was revised based primarily on business risks. Internal audit now also uses follow-up of the sustainability program and code of conduct.

 

 

Peace, justice and strong institutionsGLOBAL GOALS: BUSINESS ETHICS

The focus area Business ethics contributes mainly to Goal 16, which concentrates on peaceful and inclusive societies and incorporates the work on anti-corruption. Through its new Code of Conduct and its new code for suppliers, ITAB can contribute to strengthening the integrity in its value chain and contribute to a better social climate that is freer from corruption. 

 

 

 

INTERVIEW WITH ROY FRENCH

Senior Vice President MBU North Europe, ITAB 


How often are you involved in sustainability-related issues?

“On a daily basis. We work extensively with sustainability issues and how they can contribute to our business. In order to attract and retain our customers, it is vital for us to have a clear strategy when it comes to sustainability.”

How is sustainability a part of ITAB’s offer?

“Previously when we spoke about ITAB’s all-inclusive offer, we tended to focus on product lifecycles that extended from the ‘cradle to the grave’. Nowadays we talk about our offer from a ‘cradle-to-cradle’ perspective. We now start our design processes with sustainability in mind.

In our production facilities, we are working to reduce waste and increase our efficiency. We then install our products and ensure that the sustainability perspective is also taken into consideration when the products are in use. Finally, we try to reuse our products if possible. If not, we recycle them where possible.”