sustainabilitymatrixsoziooekonomischecomplianceteamwork

Socioeconomic compliance

In the year under review, the SFS Group was not affected by any sanctions in the area of socioeconomic compliance. This is also the clear goal for 2022.

GRI 103: MANAGEMENT APPROACH 2016

GRI 103-1 Explanation of the material topic and its boundary
The SFS Code of Conduct describes the basic principles of being an exemplary, reliable and fair business partner and employer. The SFS Corporate Principles, another core compliance element, describe the cornerstones of the Group’s corporate culture: partnership, commitment, community, success, change. Both documents were translated into more than ten languages and their contents were communicated and made available to employees throughout the SFS Group. They form the basis of the values embraced in SFS’s culture.

GRI 103-2 The management approach and its components
To ensure compliance with the requirements of the Code of Conduct, SFS has established an effective compliance system that focuses on the following seven topics:

  • Anti-corruption
  • Antitrust law
  • Insider trading
  • Data protection
  • Foreign trade compliance
  • Information security
  • Personal integrity violations

In practice, the system comprises various elements such as guidelines, regular training, induction of new employees, e-learning campaigns, newsletters, integration into internal audits, annual reporting on the Code of Conduct and a central reporting office for employees and external partners.

By integrating compliance obligations and the requirements of the UN Global Compact into the General Terms and Conditions of Purchase, the SFS Standards are applied to suppliers as well; corresponding provisions are also incorporated into contracts with sales partners.

The central Tax, Legal & Compliance unit is responsible for implementing compliance-related topics.

Compliance with the requirements of the Code of Conduct for employees is monitored as part of annual reporting on the Code of Conduct for employees. All companies report relevant incidents to the Group Compliance Officer. In addition, specific compliance-relevant topics are examined sporadically within the scope of internal audits. The results of the survey and audits form the basis for the annual compliance report submitted to the Board of Directors of SFS Group AG.

GRI 103-3 Evaluation of the management approach
The effectiveness of the management approach can be seen in the absence of sanctions due to non-compliance (see GRI 419-1) and the growing awareness of compliance-related topics seen within the SFS Group.

GRI 419: SOCIOECONOMIC COMPLIANCE 2016

GRI 419-1 Sanctions due to non-compliance
In the year under review, the SFS Group was not affected by any sanctions in the area of socioeconomic compliance. This is also the clear goal for 2022.