Ethics and compliance

Grundfos is a company with high ethical standards and a reputation of honesty and integrity.

As a global company, we operate in many different countries, and across cultures, traditions, local laws and regulations and we therefore need a common set of guiding principles that applies to all Grundfos employee and outlines what we believe to be good business conduct.

The Grundfos Code of Conduct has been continuously updated and strengthened in order to improve our corporate governance. In 2009, the Code of Conduct was extended to include all aspects of the UN Global Compact. It focuses on ethics and legal compliances within bribery, entertainment and gifts, fair and lawful competition, conflict of interest, confidentiality, acceptable accounting, human rights, labour rights, environment, and political contributions.

The Code of Conduct is signed every year by all Grundfos General Managers.

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CODE OF CONDUCT – how we practice it

As a supplement to the Code of Conduct, we have the Code of Conduct handbook, CODE OF CONDUCT – how we practice it. The handbook is a practical guide to all managers and employees to understand the principles of our Code of Conduct and how to put these into practice. Also,                                                                  the handbook is a helping hand when handling difficult                                                                                  situations and dilemmas.

                                         The Code of Conduct handbook is distributed to all employees                                                 in  the Grundfos Group and exists in 10 different languages.

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Code of Conduct governance framework

The Grundfos Code of Conduct is supported by a strong Code of Conduct Governance Framework. The scope of the framework is to support and facilitate the understanding of – and compliance with – the Code of Conduct, from Group Management over local management to each individual employee.

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Supplier Code of Conduct

In GRUNDFOS we value responsibility at our suppliers, and we wish that they live up to the same high standards as we do. We believe in communication and dialogue as a strong development tool, and we both encourage and support our suppliers when it comes to setting                                                                     ambitions and responsible goals.

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