Being a respected market participant
Scroll downBusiness ethics are the principles that guide how we create value and make our day-to-day business decisions. Our aim is to run our operations in a transparent manner that honours our commitment to fair competition.
Our ability to create value is dependent on applying high ethical standards as the basis for trust-based relationships with the community, our employees, partners, suppliers, customers and stakeholders at large. Failure to comply with laws and ethical guidelines, is a threat to our reputation and success. Our Code of Conduct outlines Scandza’s expectations for employees, managers and business partners regarding business loyalty, integrity and commercial values; laws and regulations of business practice; and competition. Our CSR policy details Scandza’s anti- corruption policy and procedures, and our supplier standard outlines our expectations for our business partners regarding anti-corruption and anti-competitive behaviour. The Board of directors has the overall responsibility for Scandza maintaining their position as a respected market player and following all applicable laws regarding financial activity.
Scandza has zero tolerance for corruption
Corruption impedes access to markets and undermines economic and social development. Scandza is mainly operating in the Nordic markets, which are considered countries with low levels of corruption (7). Corruption is still however identified as a material issue to Scandza, because if not appropriately managed it could have significant consequences for the company, markets and communities in which we operate. Scandza has a zero-tolerance policy for corruption, as stated in our CSR Policy. Assessing and monitoring business processes, training and controls are fundamental tools in implementing our anti corruption policy. All employees and business partners are provided with our anti-corruption guidelines upon starting their engagement with Scandza. Scandza had zero reported incidents of corruption in 2021.
We oppose anti-competetive behaviour
Throughout 2020 and 2021, our sector has received much attention regarding the level of competition. Scandza supports free enterprise and seeks to compete in a fair and ethically sound manner. Our Code of Conduct states that no employee or others acting on behalf of Scandza may make any arrangement, participate in any discussion, share information, or enter into any agreement contrary to applicable antitrust pricing and cooperation laws and regulations. Any incident of anti-competitive behaviour, as described in our CSR policy, is reported immediately to Scandza’s General Counsel who keeps a log of all incidents. All logged incidents are investigated. Scandza has defined processes and protocols for addressing incidents should they be elevated to a level requiring further action. Scandza had no legal actions for anti-competitive behaviour, antitrust, or monopoly practices throughout 2021.