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:
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 people to report any conduct they believe to be a breach of Munters’ policies, including our Code of Conduct, to their managers or through our web-based whistleblower service managed by an independent third party to guarantee anonymity.
Governance
The Board of Directors has the overarching responsibility for strategy, sustainability, ethics, and results. Our CEO and management decide on short-and long-term targets, focus areas, and priorities. The Sustainability Steering Committee supports the CEO and management, business areas, and Group functions. The business areas identify and execute activities to reach short-and long-term targets.
Governance model
