Responsible business practices
To gain customer trust, we act with high ethical standards and professionalism. We have zero tolerance for corruption, kickbacks, or other incentives that may influence a business transaction. Our values guide our relationships with our customers, partners and colleagues.
These three areas provide the framework for the Munters sustainability agenda. We integrate these responsible business practices into our strategy and strategic priorities:
Sustainable and profitable business
We create value for our stakeholders by maintaining a sustainable and profitable business. Responsible business practices constitute a vital foundation for continued profitability and access to capital. These include effectively managing risks and paying taxes and fees in the countries where we operate.
Business ethics
We promote a culture of transparency, compliance, and ethical and sustainable practices in our business dealings. Doing so instills trust and builds strong relationships with our stakeholders. We believe in winning business fairly on merit, ability and integrity of our products and solutions.
Collaborations
We expect our partners to comply with the high standards of our business practices. Aligning our businesses with the Ten Principles of the UN Global Compact creates the conditions necessary for long-term success.
Code of conduct
Our employees and suppliers must sign and adhere to the Munters Codes of Conduct, based on the UN Global Compact’s ten principles on human rights, labor, the environment, and anti-corruption. We monitor and report compliance each year to our Board of Directors.
We also encourage our employees, suppliers, and customers to report unethical behavior, such as forced labor and human trafficking. To demonstrate our position on this issue, we are committed to complying with Section 54 of the Modern Slavery Act 2015. Section 54 of the Modern Slavery Act 2015.
Employee Code of Conduct
We have zero tolerance for of corruption. To ensure that all employees know which principles we follow, we provide periodic training on our Code of Conduct for all employees.
Supplier Code of Conduct
We regularly audit our direct hardware suppliers to verify compliance with our Supplier Code of Conduct. To ensure compliance, we follow up on audit results with each supplier.
Our certification process for hardware suppliers ensures the materials used are manufactured according to laws that prohibit forced labor and human trafficking.
Suppliers who violate our Code of Conduct may face disciplinary actions, including dismissal or termination when appropriate.
Sustainable investments and procurement
All major investment decisions include a sustainability evaluation. Before making any decision, we analyze social factors, such as human rights, the work environment, and the environmental impact. Our decision-making process also includes climate considerations and internal carbon pricing.
Whistleblower function
We encourage our employees to report any conduct they believe violates Munters policies, including our Code of Conduct, to their managers or through our web-based whistleblower service. This service is managed by an independent third party to ensure anonymity. The reporting tool, provided by WhistleB, can be accessed here.
Governance model
