Our Code of Conduct outlines ethical behavior, business practices, and relationships with internal and external stakeholders in our work environment. We should treat existing and potential customers, suppliers, employees, investors, and other business partners, as well as the communities in which we operate, in the right way.
This Code of Conduct (referred to as the "Code") helps us practice our core values in our daily work and provides guidance for our behavior.
The Code of Conduct should provide guidance in areas related to:
·How can we respect human rights both internally and externally within the company
·How can we maintain good business ethics
·How can we ensure that our business is conducted in an environmentally responsible manner
This Code applies to all employees and board members of Piab Group (Piab) worldwide. In addition, our business partners, including suppliers, consultants, and independent contractors, must comply with standards similar to those specified in the Code. Our suppliers and other personnel who have business dealings with them, including employees, subcontractors, and other third parties, should establish and maintain appropriate management systems, and actively review, supervise, and modify their management processes and business operations to ensure compliance with the principles set forth in this Code of Conduct. Piab's official language is English, and all of our policies are in English only, except for this Code of Conduct, which will be translated into every local language where we operate.
This Code is divided into several key areas: business ethics and integrity, social ethics, environmental responsibility, and the regulation of the Code. In relevant sections, this guideline references more detailed policies, or guidance documents at the group and/or local level. If any local policies and guidance documents differ from or conflict with our Code of Conduct, this Code shall prevail.
1. Business ethics and integrity
abide by the law and observe discipline
We and our business partners comply with applicable laws, standards, and other legal provisions in the countries where we operate. We are aware of the continuous development of international regulations and social standards, and constantly adopt regulations and standards related to our business.
competition
We are committed to fair competition. We should abide by laws that protect competition, especially anti-monopoly laws and other regulations that regulate competition. The company and employees must not participate in any anti competitive activities, such as illegal price manipulation or market sharing. More details are explained in our Anti Monopoly Directive.
Anti corruption and anti bribery
We are committed to combating all forms of corruption, including extortion and bribery. Any of our employees, suppliers, and business partners shall not engage in such illegal activities, nor shall they neglect such illegal activities. We use appropriate means to promote transparency, honest transactions, responsible leadership systems, and corporate accountability. We should abide by the applicable criminal laws regarding corruption. More details are specified in our Anti Corruption Directive.
Gifts and entertainment
Neither Piab employees nor anyone acting on our behalf shall directly or indirectly solicit, give or accept gifts, remuneration, special allowances or benefits that may affect the recipient's judgment or be deemed unreasonable in the circumstances. However, we also acknowledge and accept that occasional, small, and appropriate gifts or hospitality within our business scope can have a positive impact on our business relationship. More details are specified in our Anti Corruption Directive.
Non accomplice
We collaborate with clients and business partners to jointly observe situations where our products and services may be used for illegal purposes. There are detailed trade compliance policies to support these principles.
confidentiality
Piab and our employees keep confidential the trade secrets of our business partners, and vice versa, that is, we require our business partners to keep Piab's information confidential. Prohibit the dissemination of confidential information to third parties or the public. According to applicable laws, confidentiality obligations shall continue to apply after the termination of any employee's employment with the company. After the end of our relationship with Piab, the confidentiality obligation still applies to our business partners
company assets
Piab employees should be loyal to their duties and jointly responsible for protecting the company's assets from loss, damage, misuse, and destruction. Company assets shall not be used for personal purposes or to support activities outside of Piab's business.
2. Social morality
human rights
We support and respect internationally recognized human rights protection, and ensure that our company's activities (such as our cooperation with suppliers) do not collude with human rights violations. In practice, this means:
·We comply with applicable legal requirements related to human rights.
·We will identify, prevent, and address actual or potential human rights violations.
Discrimination and harassment
We and our business partners condemn discrimination in recruitment and employment. No existing or potential employee shall be discriminated against based on factors such as race, skin color, gender, sexual orientation, marital status, pregnancy, parental status, religion, political views, nationality, ethnic background, social origin, social status, disability, age, or union membership. We oppose psychological, physical, or sexual abuse, as well as verbal harassment or abuse. We guarantee integrity, privacy, and freedom of speech.
freedom of association
We and our business partners respect the right of employees to voluntarily choose to form or join a union and represent an organization in accordance with applicable local laws.
Forced labor
We and our business partners are not allowed to engage in or support forced labor, bonded labor, or forced labor, nor do we accept any behavior of collecting employee deposits or confiscating employee identification documents. Employees are free to resign after providing reasonable notice in accordance with legal and contractual requirements.
child labor
We and our business partners do not allow child labor (under 15 years old) and any form of exploitation of children and adolescents (under 18 years old). Employees under the age of 18 are not allowed to engage in any work deemed dangerous. All local regulations must be followed.
Labor customs
We and our business partners are committed to providing fair compensation and working conditions for all employees. The working hours should be determined according to current domestic laws or industry standards, but should not exceed 48 hours per week. All employees are informed and have the right to know the basic terms and conditions of their employment.
Health and occupational safety
Piab and our business partners should comply with domestic and international regulations to ensure occupational health and safety in the workplace. By supporting risk analysis, training programs, and other preventive measures, we ensure that our employees can carry out their work in a safe and healthy manner.
Product Safety
We apply risk analysis and corresponding mitigation measures and strict procedures in our operations, and maintain a high level of professional knowledge in the application areas of our products, thereby improving the safety of our products in use. We comply with all EU directives (CE) related to safety, and are also committed to complying with directives in other markets.
Community land rights
We accept and support that the land rights of communities and indigenous peoples will be protected and promoted.
3. Environmental responsibility
We recognize that environmental responsibility is a prerequisite for the survival and prosperity of all living organisms. Therefore, for us, environmental responsibility means taking into account environmental factors when designing, producing, and selling our products. We and our business partners always comply with existing environmental regulations.
Environmental protection
We promote sustainable development in all aspects of our business, meet environmental protection requirements and standards, and act in an environmentally conscious manner in all locations where we operate. In this situation, we strive to seek processes that are compatible with the environment and use our Earth's resources with caution.
Sustainable products
We strive to optimize our products from the perspective of material usage and functionality, aiming to minimize the negative impact of the materials used on the environment and minimize energy consumption in their application areas. We are also committed to making our products fully recyclable. All materials used in our products must comply with the latest REACH and RoHS directives and should not contain any conflict materials as required by EU regulations on conflict materials or the US Dodd Frank Act.
operation
We operate our business and provide products in a way that minimizes environmental impact as much as possible. The overall goal is to minimize the environmental impact associated with our activities, products, and services to the greatest extent possible. Therefore, we adopt a preventive and cautious approach to address environmental challenges.
C. Regulation of the Guidelines
This Code has been approved by the Piab Board of Directors. All employees should be aware of our Code of Conduct and other work-related policies, and apply them in their work. Therefore, all employees must participate in online training on this Code and other policies and directives every year in order to understand and put them into practice. Directors are responsible for ensuring that all employees within their organization are aware of this policy, and where applicable, in addition to complying with local legislation, necessary parts should be incorporated into local rules and procedures. Compliance with this policy will be monitored and audited.
According to the requirements, business partners must demonstrate to us that they have complied with this Code of Conduct or similar guidelines by providing information and/or allowing Piab or its representatives to enter their office premises.
violation of guidelines
Any violation of this Code of Conduct will always be dealt with seriously, and violators may face disciplinary action or even termination of employment. In addition, violating the law may result in significant criminal fines, imprisonment sentences, and/or civil compensation for us or individual employees.
Our business partners are fully responsible for fully complying with this Code of Conduct or similar guidelines. If they discover any violation of this Code of Conduct during their operations, they should notify Piab Group.
Practical Guide
In our daily work, we may occasionally encounter situations where our Code of Conduct or other policies and guidance documents do not have clear provisions. Usually, this is a question involving common sense or prior experience. If we are unsure whether our behavior is correct in a specific situation, we should ask ourselves or discuss the following questions with colleagues:
·Does this behavior seem legal?
·Am I setting a good example by doing this?
·Is it possible for me to become dependent on someone because of my behavior?
Have I made a decision or action that can withstand media scrutiny?