Ethics - Doing the right things in the right way
Our high standards for our colleagues’ and business partners’ ethical behavior are supported by ambitious annual targets.
Our ethics targets
Acting with integrity throughout the value chain is more than just a matter of respecting laws and regulations – it is a vital part of Atlas Copco’s culture. We have an unwavering commitment to the highest ethical standards, including zero tolerance for human rights abuses and all sorts of corruption.
Atlas Copco aims to earn the trust of everyone impacted by our operations, by building relationships based on integrity, fairness and respect. We expect the same high standards from our business partners and work continuously to assess and reduce the risks associated with our value chain.
| ETHICS | 2022 | 2021 | 2020 | Target |
|---|---|---|---|---|
| Employees sign the Group’s Code of Conduct compliance statement annually | 99% | 98% | 99% | 100% |
| New employees participate in the Group’s ethics training within 12 months of joining the company, starting 2023 1) | _ | _ | _ | 100% |
| Employees participate in the Group’s biennial ethics training, starting 2023 1) | _ | _ | _ | 100% |
| Significant suppliers confirm compliance with the Group’s Code of Conduct | 93% | 93% | 93% | 100% |
| Significant distributors confirm compliance with the Group’s Code of Conduct | 92% | 87% | 84% | 100% |
Following up our progress
Code of Conduct
Every employee is also required to annually sign a Code of Conduct compliance statement. By the end of 2022, 99% of our employees had signed the statement. New employees are required to participate in the ethics training within 12 months of joining Atlas Copco. Performance against these targets will be followed up annually.
In 2022, the content of the Code of Conduct was thorougly updated to reflect changing stakeholder expectations with new topics including modern slavery, risk management, circularity, data protection and privacy, among others. The new training will be rolled out in 2023.
Code of Conduct and our business partners
All significant business partners must commit to our Code of Conduct by signing a Business Partner Criteria document. The document has been translated into more than 30 languages and is available on the Group’s website. At the end of 2022, 93% of our significant suppliers had signed the compliance statement.
Code of Conduct and our distributors
Atlas Copco also requires that all significant distributors commit to our Code of Conduct by signing the Business Partner Criteria document. Distributors who represent the bulk of the sales value or who operate in high-risk markets are prioritized. At the end of 2022, 92% of our significant distributors had signed the statement.
How our targets relate to the UN Global Goals
Global Goal 8: Decent work and economic growth
Atlas Copco requires all business partners to comply with the Code of Conduct. Child labor or forced labor is not tolerated and compliance is assessed and audited. Atlas Copco ensures the right to collective bargaining and expects the same of our business partners.
Global Goal 16: Peace, justice and strong institutions
We have zero tolerance for corruption. This is clearly communicated in our Code of Conduct. Atlas Copco requires all employees to sign their compliance with our code of conduct and to take annual trainings in how to handle ethical dilemmas. Business partners are expected to confirm their compliance with criteria based on our Code of Conduct.
