Our Code of Conduct

We believe that high ethical standards and strong values create long-term value for our customers, employees and other stakeholders. Through our values, our Code of Conduct and policies, all encompassed within our governance model, The Sandvik Way, we set clear standards for “doing things right”. Our Code of Conduct sets the principles for how we all must act as individuals and as a company; it supports us in making the right decisions.

Total amount of speak up reports in 2017:224

  • Business Integrity 60
  • Human Resources 25
  • Other 15

Percentage of employees trained in Sandvik’s Code of Conduct 93%

Our group-wide Code of Conduct, “It’s in our hands”, confirms our strong commitment to ethical and responsible business practices and compliance with relevant laws and regulations in all markets where we operate. The Code of Conduct describes the principles of behavior that our employees should adhere to and provides guidance in our actions and everyday business decisions. It is an important building block of our overall governance structure and it is supported by policies and procedures to further detail our internal requirements and rules.

Foundation of the Code

The Code of Conduct covers areas such as environment, working conditions, human rights and anti-corruption. Its foundation is built on our core values, the International Bill of Human Rights, the International Labour Organization's Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention against Corruption as outlined in the ten principles of the United Nations Global Compact, in which we participate. We are also committed to adhering to the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. We believe that by doing so, we provide a solid foundation that supports a more sustainable future for Sandvik and for our stakeholders.

Training

The Code of Conduct applies to all employees globally including the Sandvik Board of Directors. Our employees are provided with regular training to understand the Code of Conduct and the policies related to it. 93 percent of all employees and longtime contractors had been trained by the end of 2017.

Speak Up

A global reporting tool called Speak Up supports the Code of Conduct and the Supplier Code of Conduct. Employees and external parties who witness a violation of the Codes can report this, anonymously if so desired. Speak Up is available through our intranet or internet portals and through country-specific telephone hotlines 24 hours a day, 7 days a week, in all countries where Sandvik has operations. In addition to reporting incidents, the system can be used to ask questions related to the Codes.

All Speak Up reports are screened automatically to preserve the integrity of the reporter, albeit under oversight by the Group Ethics Office. The case is assigned to the relevant business area or Group Counsel for investigation, with support from the Business Integrity unit specialized in internal investigations and appropriate remediation. Reports, investigations and remediation are recorded, monitored and included in reporting to the Group Audit Committee.