A global mindset and responsible business conduct are key to NKT. We are committed to ensure a proper corporate governance and that we have the necessary processes, rules and policies in place.
We are committed to promote ethical behaviour across the company and ensuring compliance across all segments, markets and entities is fundamental to our success.
Our Code of Conduct defines the fundamental principles of conduct in NKT in relation to employees, vendors, business partners and the public.
We are continuously improving our compliance approach and we have a broad-reaching compliance program in place that encompasses anti-bribery and anti-corruption, anti-trust law (competition law), data privacy, and export controls and sanctions.
NKT is compliant with applicable laws, regulations and international standards, we strive to meet stakeholder expectations, and we are constantly building a strong compliance mindset throughout our organization.
In NKT, the Ethics & Compliance Board oversees the development and execution of our Ethics & Compliance program which we operate across the entire NKT Group and which is ultimately supervised by the Audit Committee on behalf of the Board of Directors. The Ethics & Compliance function collaborates with Financial Compliance on implementing internal controls to increase our efforts in detecting potential compliance issues.
We operate a whistleblower hotline that can be used by both employees and external stakeholders to report concerns about unethical behaviour. Our employees are encouraged to speak up and we have a strict non-retaliation policy.
As a global company, we comply with both national and international trade controls, including economic sanctions and export controls. To ensure compliance, we operate a robust compliance program according to which all relevant business partners are screened to ensure they are not subject to any applicable sanctions or other relevant restrictions and all business transactions will immediately be terminated if that is the case. While we primarily operate in low-risk countries in relation to sanction and trade controls, the area is reviewed on a continuous basis.
As a global company, complying with export controls and sanctions regulations is key to our operations and compliance is being monitored closely.
— Michael Stagelund Hvidt, Ethics & Compliance
NKT is a responsible taxpayer and we base our tax reporting on responsibility, openness and transparency in all aspects of tax related reporting and compliance, wherever the company and its subsidiaries operate. We are committed to work with relevant stakeholders to drive transparency and the development of efficient tax systems and aim to follow recommendations of Good Governance on tax affairs in the countries in which the subsidiaries of NKT are located. NKT does not operate in tax havens and any future operations in tax havens will be of purely commercial reasons.
As a signatory to the UN Global Compact, we are committed to conforming to all aspects of the Universal Declaration of Human Rights. We respect and abides by local labour law, and supports freedom of association, and all employees have contracts complying with local laws and regulations.