We set high standards of ethics and responsibility in our business.
Ethical business
We expect all of our employees to act with integrity, complying with laws, regulations and industry requirements, considering the impact of their actions and making ethical business decisions. We continuously improve our compliance framework supported by an embedded integrity mindset throughout the organisation.
Building an integrity mindset
Having an integrity mindset means going beyond compliance and considering the impact of our decisions and actions on stakeholders. To build and reinforce the integrity mindset at Mölnlycke we raise employees’ awareness within this area, train them in ethical dilemmas and encourage and empower them to handle the ethical dilemmas they may face in their daily work and interactions.
Our Code of Conduct anchors our commitment to comply with laws and regulations and to be an ethical company. in the broader frame of international commitments such as the Sustainable Development Goals (SDGs). The Code of Conduct provides all employees with guidance and is regularly updated.
Mölnlycke Ethics Hotline
The Ethics Hotline enables internal and external stakeholders to report concerns and grievances or any other suspected violations of laws, policies and procedures or inappropriate behaviour. Topics of reports can include issues such as, but not limited to, fraud, corruption, working environment issues and discrimination.
Our employees can voice their ethical concerns or seek advice through the Business Ethics Compliance function or by using the company’s Ethics Hotline. All concerns are investigated by dedicated personnel. In 2023, the majority of cases, 56% was related to employee relations and the second largest categories, 18% of reports, concerned misuse of corporate assets.
“We encourage and empower our employees to ask questions and bring up ideas, questions and concerns. We train them on speaking up, and we train our managers on listening. We believe this is how we show that we care and how we ensure a stronger, more sustainable and responsible organisation.”
Signe Elbæk Chief Compliance Officer
Fair competition
Mölnlycke is committed to conducting business in compliance with all applicable laws and legislations and with integrity and focus on business ethics. Competition law is an inherent part of an ethical business, as competition laws monitor the distribution of economic power, to allow undistorted competition and healthy economies to grow.
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This position statement sets out the scope and approach of Mölnlycke’s fair competition ambition, taking into account the nature of our industry and stakeholders as well as relevant legislation.
Mölnlycke is committed to conducting business in compliance with all applicable laws and legislations and with integrity and focus on business ethics. Competition law is an inherent part of an ethical business, as competition laws monitor the distribution of economic power, to allow undistorted competition and healthy economies to grow.
Mölnlycke believes that fair competition is one of the essential principles of a well-functioning market, which benefits the development, progress and well-being of society. Mölnlycke’s Code of Conduct reinforces this principle by stipulating that “Mölnlycke promotes and protects competition” and that Mölnlycke personnel “shall comply with all competition laws and demonstrate fair and correct behaviour in competition”. To further ensure fair competition we follow our guiding principles:
- We do not discuss commercially sensitive information
We do not discuss commercially sensitive information, market sharing or market allocation with our competitors. We are aware that sharing, receiving, or exchanging this type of information could be prohibited even when it is informal, such as in conversation with a former colleague or friend, or when it takes place during industry association meetings.
- We respect fairness
Vertical agreements affect business partners that are not acting at the same level of the value chain, such as a Mölnlycke relationship with a distributor or a supplier. We respect fairness and it is important to us to not exert undue influence over our distributors. For example, in the EU, we do not prevent passive sales (i.e., sales made in response to unsolicited orders) or impose resale prices on distributors.
- We follow best practice in tender processes
In tender processes, transparency must be maintained throughout the procurement cycle by adhering to all applicable procedures. It is therefore important that decision makers are provided with correct and transparent data. We do not exert any improper influence on the content of the tender documents, nor do we have undue contacts with decision makers in tender processes.
Protecting human rights throughout the value chain
An essential part of our vision to revolutionise care for people is promoting and ensuring respect for human and labour rights in all of our stakeholder relationships. When referring to human rights, Mölnlycke takes into consideration internationally recognised human rights as set out by the United Nations (the “UN”), the International Labour Organisation (the “ILO”), the European Union, and applicable national laws. This commitment is formalised through the Human Rights policy and position.