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. We were involved in drafting the Code of Ethical Business Practice for our European industry association, MedTech Europe and in 2019 we played an instrumental role in updating the AdvaMed Code of Ethics on Interactions with Health Care Professionals. AdvaMed is the largest medical device industry organisation in the US.
We have developed a Code of Ethics and Business Conduct, 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 the Ethics and Compliance Executive Team made up of ConvaTec executive leadership team members and other senior leaders in the organisation.
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 confidential helpline (whistle-blowing line) which is hosted by an independent, third-party provider. Their website provides a confidential channel for employees and others to report any suspected breaches of our Code of Ethics and Business Practice, as permissible by local laws.
Information on political donations and relationships, and regulatory compliance, in 2019, 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 2019 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 2019 CR Report is subject to external assurance to provide additional credibility to the disclosure.
