Code of Conduct
Sandvik believes that ethical and sustainable business practices are a crucial foundation for a successful business. Sandvik has a long history of working in accordance with applicable laws and internationally recognized principles, as well as in partnership with our local communities. Our Code of Conduct is built on our internal core values and external principles, such as the International Bill of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention against Corruption as outlined in the ten principles of the United Nations Global Compact. We are also committed to adhering to the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.
The Code of Conduct is a vital component in The Sandvik Way, our governance framework. It guides our actions as individual employees and as a company in our daily work, it sets the ethical standards we adhere to and plays a key role in achieving our 2030 Sustainability Goals.
Speak Up
Employees and external parties who witness a violation of the Code of Conduct, laws, or our policies, can report the violation anonymously, through the global whistleblowing tool Speak Up. Each report is assigned to an investigator from the relevant business area, ensuring an independent and impartial investigation. The Ethics Office oversees the effectiveness of the Speak Up process. Reports, investigations and remediations are recorded, monitored, and included in reporting to the Audit Committee.
In accordance with the Sandvik Speak Up policy, no retaliation will be taken against any employee or business partner who raises concerns in good faith.
Our reporting tool, Speak Up, is publicly and directly accessible to all stakeholders, enabling them to report any negative impacts, including human rights concerns that Sandvik caused or contributed to. This process ensures that suspected breaches are identified and addressed appropriately. Additionally, certain countries have local grievance mechanisms and other support systems for employees that go beyond legal requirements, such as foundations providing rehabilitation and financial support related to health and well-being. The European Works Councils and relevant local unions have been involved in establishing local whistleblowing channels and appointing investigators.