Behaving ethically and with integrity is a key element of one of our core values (Earning Trust). It is the right thing to do and protects our reputation. Ethics, bribery and corruption risk has been identified as one of the principal risks that could threaten our strategy, performance and reputation.
Corporate transparency is increasingly assessed by third parties and is becoming enshrined in company law (e.g. gender diversity, greenhouse gas emissions and corporate approaches to modern slavery). A company’s transparency is now seen as an important performance indicator and we see the benefit of making continual improvements in this area through strengthening the trust of our various stakeholders.
We engage with stakeholders on ethical topics within our sector. For example, we are an active participant in many of the local medical device trade associations of the countries in which we operate and we played an instrumental role in drafting the Code of Ethical Business Practice for our European industry association, MedTech Europe.
We have developed a Code of Ethics and Business Conduct [link], and a series of Global Policies which cover a range of business conduct and compliance issues, focusing particularly on anti-bribery and anti-corruption. We strive to ensure that all employees complete the necessary training, and completion is carefully monitored.
Our Chief Compliance Officer runs a Compliance Steering Committee made up of ConvaTec leadership team members. We have Compliance Officers (‘COs’) working in our Regions and, on an annual basis, conducting risk assessments in order to prioritise their compliance activities for the year.
Further information on our Compliance team resources are covered in detail in our Corporate Responsibility Report.
Further details are set out in the Annual Report.
We operate a whistle-blowing line which is managed by an independent, third-party, provider. Their website provides a channel for employees and others to report any suspected breaches of our Code of Ethics and Business Practice.
Information on political donations and relationships, and regulatory compliance, in 2018, is covered in detail in our Corporate Responsibility Report.
Being transparent with our stakeholders about all aspects of our CR performance is a vital part of building strong, long-term relationships based on trust. We are working to improve the quality of our disclosure through the publication of CR Reports and, as part of our commitment to transparency, we have aimed for the 2018 Corporate Responsibility Report to be in accordance with the GRI Standards: Core option. We have mapped the requirements of the standards to the relevant disclosures in a GRI Content Index. Our 2018 CR Report is subject to external assurance to provide additional credibility to the disclosure.