Governance
Living an ethical business culture
We are committed to fostering and upholding a sound and ethical business culture by embedding an integrity mindset in every decision. We ensure that all aspects of our operations are guided by trustworthiness, accountability, and fairness, prioritising the well-being of patients, caregivers and payers, each other and society.
By upholding these principles and encouraging our employees to think critically and make ethical decisions, we strive to create sustainable value for all stakeholders, maintain trust and safeguard our reputation, as well as cultivate a culture of trust, innovation, and collaboration in our chain of activities. This is the Mölnlycke way.
Our position on business ethics and integrity
Mölnlycke is committed to building a strong culture of compliance where all employees understand and are empowered to apply business integrity behaviours. Mölnlycke embeds this commitment through the establishment of a solid compliance framework with all associated initiatives that support an ethical business culture.
Mölnlycke's Code of Conduct provides employees with overall guidance and establishes a frame. With its Code of Conduct Mölnlycke formulates its commitment to comply with laws and regulations and to be an ethical company in the broader frame of international commitments such as the UN Global Compact’s Ten Principles.
In addition, Mölnlycke has established and implemented policies and procedures addressing high-risk activities and operations primarily concerning interactions with costumers, healthcare professionals, and others to prevent incidents of corruption and bribery.
Mölnlycke Ethics Hotline
Mölnlycke has a global Ethics Hotline process in place to receive, assess and investigate business conduct incidents. The Ethics Hotline is open to all internal and external stakeholders. The investigation of concerns raised follows a strict process and is reviewed and reported on a regular basis.
“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
Business ethics: target and outcome 2024
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0employees feel safe to report concerns without the fear of retaliation by 2025
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0employees feel safe to report concerns in 2024
Third party risk management
Within the medical device industry, interaction with distributors is essential to reach customers across different markets and geographies. These relationships can expose Mölnlycke to ethics and compliance risks, such as bribery and corruption. In order to further reduce this risk and strengthen the reliability of our business relations, Mölnlycke continues enhancing its third party management programme with additional guidance and support to ensure that third parties are working in alignment with Mölnlycke’s values.
Read more on the Distributor portal.
To find out more on how work with third party risk management upstream, please see Sustainable supply chains.
Third party management: target and outcome 2024
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0 %distributors in scope to undergo due diligence by 2025
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0 %distributors in scope underwent due diligence