At the ROCKWOOL Group, we are committed to conducting ourselves sustainably, responsibly and transparently. ROCKWOOL has signed up to the United Nations Global Compact and expresses our continued support for the Global Compact, hereby renewing our ongoing commitment to the initiative and its principles. This commitment means continuously evolving our governance, policies, training and stakeholder dialogue.
Driving sustainability performance
During the year, we continued to strengthen the relevant governance structures to support the Group’s sustainability ambitions. We established a Group sustainability function and steering committee in 2016. The steering committee met on five occasions. Further steps to ensure that business decisions reflect our sustainability commitments included updating investment processes to align with sustainability goals. In early 2017 the Board of Directors decided to increase the focus on sustainability and consequently asked the Audit Committee to include monitoring of the Group’s sustainability performance as a part of the Committee’s area of responsibility.
Supply chain and human rights
Sourcing is done in accordance with the Group Procurement Policy, which requires that suppliers of direct materials with an annual spend more than EUR 100,000 sign the Code of Conduct, aligned with the 10 principles of UN Global Compact and now available in 12 languages. So far, 94 percent have signed the Code, up from 76 percent in 2015. We carried out 121 supplier evaluations in 2016, two of which led to corrective actions. A project was initiated to review current internal procedures within the supply chain to ensure they are sufficiently robust. Human rights are part of the ROCKWOOL Group’s Social Charter. Read more about our approach to human rights in the ROCKWOOL Group Annual Report.
The ROCKWOOL Group recognises that corruption is a potential risk in business and is dedicated to responding to this risk as comprehensively and systematically as possible. The fight against corruption is part of the Business Ethics Manual of the Group. The Group’s Integrity Committee consists of the CEO, Chief Financial Officer, a senior member of Group Management and the Group General Counsel. It oversees the Group’s compliance within competition law, anti-bribery, data privacy and export control. It takes a zero tolerance stance on corruption in any form, as outlined in our Business Ethics Manual, while at the same time offering a timely and consistent response to all issues raised through our anonymous whistle blower system.
Engaging our people
All employees with third party contacts and indirect employees must undertake e-learning training in Business Ethics. Additional training is given in countries with high corruption ratings and for Group sourcing and procurement staff. The Group’s whistle blower policy encourages employees, suppliers, distributors and customers to expose any corrupt practices or misconduct with their anonymity protected. In 2016, we investigated eight integrity incidents, three of which were reported and investigated as a result of whistle-blowing.