Governance and ownership as a guarantee for sustainability within the Beijer Ref Group
Beijer Ref complies with the Swedish Code of Corporate Governance and has delegated responsibility for sustainability work in various focus areas to relevant parts of the organisation. Through clear governance, responsible ownership and strong commitment from the entire organisation, sustainability is integrated into daily operations.
Sustainability is a central and integral part of Beijer Ref's corporate governance. The Board of Directors and the Executive Management have established strategies, corporate policies and sustainability targets. The Board of Directors actively monitors the work to ensure that the Group achieves its goals and fulfils its high ambitions. Sustainability issues (ESG) are a standing item on the agenda of at least two board meetings per year. Between these meetings, an audit committee monitors and ensures compliance.
Responsibility for implementing initiatives lies at both central and local levels. Each strategic initiative is owned by a management function, and the local subsidiaries are responsible for carrying out and implementing the actions. To emphasise the importance of governance and proper engagement, Beijer Ref included sustainability targets as part of the top management's bonus targets in 2022.
Supported by policies, such as the Sustainability Policy and the Code of Conduct for Employees and Suppliers, the subsidiaries work towards achieving set targets in their respective areas. As a decentralised organisation, the Group expects all subsidiaries to take active responsibility for their local operations and for their management to have a strong commitment to sustainability issues. In addition, each subsidiary has a designated sustainability contact person, responsible for implementing actions and local communication.
Policies and ethical guidelines
Beijer Ref has a Code of Conduct that covers all employees within the Group, supplemented by two additional ethical policies. One concerns competition and reinforces the Code of Conduct, while the other covers anti-corruption provisions. For a global group like Beijer Ref, operating in markets with a higher risk of corruption and human rights violations, clear processes in case of incidents and sanctions are crucial, as shown in these policies.
Responsible supply chain
As a leading global player, Beijer Ref is responsible for continuously developing its work to ensure that suppliers meet high standards of responsible and ethical behaviour. Quality, social responsibility and climate focus must always be guiding in the business and in business relationships.
The Group has a centralised Supplier Code of Conduct that applies to all major business partners. This code specifies the Group's requirements regarding human rights, social and labour law conditions, business ethics and anti-corruption. Since 2018, Beijer Ref has worked actively to implement this Code of Conduct among its suppliers and has achieved its goal of having the 100 largest suppliers sign it. Continuous follow-up and dialogue with suppliers is an important part of this work.
Beijer Ref works proactively to create deeper collaborations with strategic partners to drive projects that promote sustainability. One example is the renewed partnership agreement with Danfoss, which includes a project to explore options that can strengthen the circular economy.
Business ethics and anti-corruption
Beijer Ref has a clear stance on business ethics: the Group has zero tolerance for corruption and other unethical behaviour. The main method of combating corruption is to continuously promote a corporate culture where each individual acts with integrity in line with Beijer Ref's values and policies. Integrity and business ethics must permeate all parts of the business, and it is of the utmost importance that all employees know how to handle situations related to unethical behaviour.
Anti-corruption is addressed in the Group's Code of Conduct and related policies and in the Supplier Code of Conduct. The message is clear: all employees and persons acting on behalf of the company must comply with the Code of Conduct. Irregularities and fraud should be identified and investigated as early as possible. To ensure that the entire organisation understands the Group's ethical approach, over 90% of employees have undergone Code of Conduct and Business Ethics training over the past three years. This training will be repeated every two years through an e-learning tool.