Ethics and anti-corruption

Sound business ethics and an honest and open business culture lie at the very heart of Gränges’ approach. All internal relationships and relationships with suppliers, customers and other business partners shall be characterised by responsible, ethical and sound business principles. Gränges strategically rejects all forms of bribery and corruption.

An ethical and transparent approach is essential for Gränges to avoid conflicts of interest. It also ensures that the company has accurate reporting, long-term sustainable and profitable operations, and strengthens the Gränges brand.

Code of Conduct, policies and training

Gränges’ Code of Conduct provides a framework for what Gränges considers responsible and sustainable behavior, and states that operations are to be run according to responsible, ethical and sound company and business principles. These principles apply to the daily work of all employees. The Code of Conduct applies to employees, the board, and independent consultants and others who act on Gränges’ behalf.

Gränges also has an insider policy and an anti-corruption policy that all employees are obliged to follow. The anti-corruption policy explains and expands on Gränges’ view of corruption including the handling of gifts to charity, which primarily occurs on a local level, and to political campaigns. In principle, all Gränges managers, officers in positions of responsibility and key people in purchasing and sales have taken a training programme in anti-corruption issues. The training is held regularly.

The company’s General Counsel regularly reviews regulations and guidelines in the company’s Code of Conduct and anti-corruption policy with all sales representatives and purchasers, and also holds seminars and workshops with sales representatives and purchasers.

All new employees undergo an introduction to the Code of Conduct and corruption issues when they join the company. The Board is also subjected to the anti-corruption policy and is informed of this.

All Gränges’ suppliers of materials, ingot, alloys and scrap as well as other larger suppliers are required to follow Gränges’ Supplier Declaration. This means that suppliers are required, amongst other commitments, to maintain the same standards as Gränges in terms of anti-corruption and to not engage in any form of bribery or corruption.

Prior to mergers with, or acquisition of, other companies Gränges carries out thorough due diligence to ensure that corruption has neither taken place nor is currently taking place. As the company works to ensure ethical behavior in all its business relationships, Gränges has also continued to tighten internal auditing routines.

Whistle-blower function

Gränges has a whistle-blower function where employees are able to anonymously report suspicions they may have that anything improper is happening in the company, if there is an individual who commits irregularities, or in any other way violates the principles of the company’s Code of Conduct. Reports are submitted anonymously to a panel composed of the General Counsel and SVP Human Resources. The whistle-blower function is available to all employees, and is described in the Code of Conduct and on the company’s intranet site.