In place since 2004, the Code of Conduct is the framework that helps us translate our values into actions. Efforts to promote sound business practices, good working conditions and well-being all originate from the Code, but this is not where they end. Now we’re taking further steps and formalizing the compliance department by assigning a new Vice President for Compliance and Ethics.
SCA has significant business in approximately 100 countries, in many with leading market positions, and in different cultures. This means that SCA is exposed to compliance risks. We have a set of governing documents as well as trainings to guide and provide all employees with the necessary knowledge to comply with SCA’s values and policies. To help achieve it, SCA is formalizing the compliance department and identifying how best to integrate and follow up on compliance within the business.
SCA is known for its strong stance on ethical business practices; the numerous awards we have won in this area are an independent testimony of this. Yet ensuring we remain compliant in all markets and in all business cases can be challenging as we saw from the law suits filed against the company last year. This will now fall under the remint of the compliance department, only recently formalized at SCA, that will work together with the SCA Legal team, Internal Audit as well as with the Group Functions to ensure an effective compliance program.
Compliance is important
Interestingly, at SCA the compliance department sits within Sustainability, reflecting our belief that being compliant is a necessary and valuable part of being a sustainable company. This is something Karin Henrikson, VP Compliance and Ethics – a new position developed as part of our drive to improve our compliance, is very clear about.
Karin Henrikson, VP Compliance & Etihics
“Compliance is an integral part of our business and can really add value” says Karin. “A lot of business opportunities rely on our stakeholders knowing we are a compliant company and that we, at the very least, measure up to the same level as them in this area. This includes banks, financial markets, customers and consumers, as well as business partners. Likewise, investors are also very interested in our compliance record; increasingly we get questions about it, often requiring quite detailed answers. We, in turn, place the same demand on our suppliers”.
Identification of crucial areas
One key area of focus for the compliance department this year is ensuring we are ready on day one of operating under the new hygiene company, should the planned split of the company be approved at the Annual General Meeting. This includes preparations relating to the ongoing acquisition of BSN medical. “It is a super interesting time” says Karin, “we can’t build it all in a day but we can identify where to start and prioritize those areas that are most crucial. I am looking forward to the exciting times ahead and welcome the active participation of all employees”.
Find out more about SCAs Code of Conduct