Ethical business practices
Valmet strives to ensure that all its operations are carried out in a socially responsible and globally aligned manner.
We strive for globally consistent and transparent management practices so that all our stakeholders can reliably assess the sustainability of our operations and development. Valmet also supports and promotes selected international guidelines and principles and is a signatory of the UN Global Compact.
Code of Conduct and related policies
The basis of Valmet’s operations is its Code of Conduct, which creates a uniform and ethical foundation for all our business transactions and work assignments. It also describes our approach to sustainable business operations, people, society, and environmental issues.
Valmet’s Code of Conduct is aligned with the principles set out in the UN Global Compact. The Code addresses human rights, labor practices, environmental issues, compliance with laws and regulations, fair competition, occupational well-being and safety, and ethical standards throughout the value chain.
Valmet has a zero-tolerance approach towards all forms of corruption and bribery. We are committed to conducting our activities in accordance with applicable anti-corruption laws. In addition to its Code of Conduct, Valmet has an Anti-bribery policy to ensure compliance with national and local anti-corruption laws and regulations in force in jurisdictions where Valmet conducts its business. As an example, Valmet has not made and does not make any political contributions.
Valmet arranges regular training on its Code of Conduct, anti-corruption principles, and competition compliance guidelines to enforce the policies' principles. All Valmet's suppliers are required to commit to the principles set in the sustainable supply chain policy, to which potential self-assessments and audits assess compliance.
Valmet also has several policies that guide its and its partners' operations regarding corruption, bribery, and competition compliance.
Valmet’s policies and commitments:
- Health, safety, and environment (HSE) policy
- Sustainable supply chain policy
- Equal opportunity and diversity policy
- Non-discrimination and anti-harassment policy
- Human Rights Statement
- Anti-Corruption policy
- Competition Compliance Guidelines
International principles
- UN Universal Declaration of Human Rights
- ILO Declaration on Fundamental Principles and Rights at Work
- UN Global Compact and Sustainable Development Goals (SDG)
- OECD’s Guidelines for Multinational Enterprises
- UN Guiding Principles on Business and Human Rights
Social impact of ethical business
Valmet is committed to the United Nations Guiding Principles on Business and Human Rights, and we express our engagement in our Human Rights Statement. We have a comprehensive due diligence framework to monitor and manage social impacts related to our own operations and our supply chain. The due diligence framework includes social impact assessments and their findings, action plan creation, and progress monitoring. We have a location-specific social impact assessment process, targeting the evaluation of social impacts in our operations to ensure our social policies and procedures are effective and adequate.
Read more about human rights management >>
Reporting misconduct
Valmet has an anonymous reporting channel that enables our stakeholders to report any violations or breaches of the Code. A report can be made 24/7 via telephone or the Internet in the native language. The reporting channel is maintained by a third party to guarantee anonymity.
Certified operations
Valmet’s Global Management System (GMS) provides a common platform for quality and HSE management in all operations. Through the annual planning process, targets and improvement initiatives are aligned across all units and locations to drive development toward our strategic objectives. By taking best practices into common global practice, we can continually improve.
We believe that multisite certification of our operations assures our customers and other stakeholders that we have a process[1]oriented and standardized global way of working according to the international ISO standards for quality (9001:2015), environment (14001:2015), and health and safety (ISO 45001:2018) management systems. Our target is that at least 80 percent of our people will work in operations certified to all three standards by 2025.
Sustainability management
Valmet has strengthened sustainability-related governance to increase dialogue with Valmet’s functions, business lines, and areas. With its renewed Sustainability360° Agenda, Valmet significantly strengthened sustainability-related governance. We created a broader and more detailed formulation of our sustainability governance framework, explicitly defining teams, meeting purposes, schedules, and agendas.
With stronger sustainability management, Valmet aims to deepen the systematic and impactful dialogue across all business lines and areas. The larger communication framework with a greater degree of formality will help ensure our sustainability efforts remain focused on Valmet’s material topics with progress checks and regular support for annual sustainability planning.
