sustainabilitymatrixsoziooekonomischecomplianceteamwork

Socioeconomic compliance

In the year under review, SFS Group was not affected by any sanctions in the area of socioeconomic compliance. This is also the clear goal for 2020.

GRI 103: MANAGEMENT APPROACH 2016

GRI 103-1 Explanation of the material topic and its boundary

The SFS Code of Conduct describes the basics of conduct as an exemplary, reliable and fair business partner and employer. With the SFS Corporate Principles, also a vital compliance element, the cornerstones of the corporate culture are described: Partnership, Commitment, Community, Success, Change. Both documents have been translated into more than 10 languages and made available to all employees in the SFS Group. They form the basis of the SFS culture.

GRI 103-2 The management approach and its components

In order to ensure observance of the requirements of the Code of Conduct, SFS has implemented an effective compliance system that focuses on the following seven topics:

  • Anti-corruption
  • Anti trust law
  • Insider trading
  • Data protection
  • Foreign trade compliance
  • Information security
  • Violation of personal integrity

In its execution, the system incorporates various elements such as guidelines, regular training, introduction of new employees, e-learning campaigns, newsletters, integration into internal audits, annual reporting on the Code of Conduct and a central reporting office for employees and external partners.

Integration of the compliance obligation and the requirements of the UN Global Compact principles into the general procurement terms and conditions ensures SFS' standards are also applied to suppliers. These provisions are also integrated into contracts with distribution partners.

The management of compliance issues is handled by the corporate function of Tax, Legal & Compliance.

As part of the annual reporting on the Code of Conduct for employees, observance of the respective regulations are also monitored. All group companies are obliged to report relevant incidents to the Group Compliance Officer. In addition, compliance-related issues are checked at certain points in internal audits. The results of the survey and the audits form the basis of the annual compliance report to the Board of Directors of SFS Group AG.

GRI 103-3 Evaluation of the management approach

The effectiveness of the management approach can be seen in the absence of sanctions due to non-compliance (see GRI 419-1) and the noticeable increase in awareness of compliance issues within the SFS Group.

GRI 419: SOCIOECONOMIC COMPLIANCE 2016

GRI 419-1 Sanctions due to non-compliance

In the year under review, SFS Group was not affected by any sanctions in the area of socioeconomic compliance. This is also the clear goal for 2020.