Honest approach in relation to stakeholders

In all the countries where VBG Group conducts operations, we will adhere to current laws and ordinances. If a situation should arise where we cannot find guidance from the law, we will follow our Group-wide standards and principles.

VBG Group must have an honest approach in relation to its business partners and other stakeholders. Employees in VBG Group may not take payments, gifts, or other forms of remuneration from third parties that could affect their objectivity in business decisions. The Group once again held anti-corruption training in 2019, with the goal that all selected employees would complete the program during the year. The employees selected to participate in 2019 were the Board of Directors of VBG Group, management groups within the Group, employees in sales, marketing, purchasing and R&D and other members with contacts among customers and suppliers.

Business ethics goal

All selected employees in the Group are to undergo the company’s anti-corruption training annually.  At the end of 2019, all 435 selected employees had undergone the training program.

 Hundred percent

Outcome 2019

The outcome for 2019 was 100%.

Human Rights and Political Neutrality

Respect for human rights is not only a social issue, but also important from the perspective of business ethics. Our zero tolerance approach to discrimination and all forms of slavery, forced labour or child labour is becoming increasingly relevant in pace with the Group expanding globally. Especially in connection with establishment in developing countries, we must make a positive contribution to social improvement and create opportunities for the local population by placing the same stringent requirements on our suppliers and collaborating partners as we do on ourselves. Our accounting and financial reporting must be carried out correctly, in accordance with generally accepted accounting practices. This includes always providing information that is accessible, truthful, relevant, comprehensible and current.

Employees and members of the Board of Directors of VBG Group must handle their private (and other external) activities and economic interests in a way that does not result in a conflict of interest arising in relation to the Group. VBG Group is also politically neutral, and therefore does not permit names or assets belonging to the Group and its companies being used to promote the interests of political parties or candidates.