Business ethics and compliance
Our daily operations are guided by Valmet’s Code of Conduct, which is aligned with the principles set out in the UN Global Compact. The Code addresses topics such as human rights, labor practices, environmental issues, compliance with laws and regulations, fair competition, occupational well-being and safety,
and ethical standards throughout the value chain. Valmet also has in place several policies which guide its and its partners' operations with regard to corruption, bribery and competition compliance.
Policies and commitments:
- Valmet’s Code of Conduct
- Valmet’s Anti-Corruption Policy
- Valmet’s Competition Compliance Guidelines
- Valmet's sustainable supply chain policy
- Valmet is a signatory of the UN Global Compact (UNGC)
Valmet arranges regular training on its Code of Conduct, anti-corruption principles and competition compliance guidelines to enforce the principles set in the policies. All Valmet's suppliers are required to commit to the principles set in the sustainable supply chain policy, to which compliance is assessed by potential self-assessments and audits.
Corruption risks are assessed as part of compliance and crime-related risks, e.g. fraud and misconduct, in the FRIME (Flexible Risk Management Evaluation)audits and in Valmet’s annual group-level risk assessment process. The control environment and the anti-bribery programs are assessed in the internal audit areas.
Valmet has in place an anonymous reporting channel that enables our stakeholders to report any violations or breaches of the Code. A report can be made 24/7 via telephone or Internet in native language. The reporting channel is maintained by a third party to guarantee anonymity.