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.

We set high standards of ethics and responsibility in our business. 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

We regularly raise awareness of risks and challenges through communication and training activities, including the annual Code of Conduct training for all Mölnlycke employees. As a result of these efforts we saw a significant strengthening of the reporting culture in 2023 vs 2022.

 

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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 category, 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

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 program with additional guidance and support to ensure that third parties are working in alignment with Mölnlycke’s values.

Read more on the Distributor portal.

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 statement.

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