CODE OF CONDUCT

 

VOLVO CAR CORPORATION CODE OF CONDUCT

Click here to download

GENERAL STATEMENT

Volvo Car Corporation’s ambition is to conduct business fairly and honestly.  This integrity requires us to act ethically, at all times and in all circumstances, when we act on behalf of the Company. All personnel must know and comply with all Company directives and legal requirements related to their work. This Code of Conduct summaries the major Company directives and instructions that apply generally to our global operations. However, governing law, labour contracts, and the application of special directives can vary around the world. For that reason separate regulations may apply that are specifi c for a country or region. If local law or labour contracts conflict with Company directives, then local law and labour contracts take priority.  When necessary and appropriate, Volvo Cars establishes and complies with standards of our own, which may go beyond legal requirements. If national or international law, industry standards and this code address the same subject, the stricter regulation shall apply.

Volvo Cars is aware of its social responsibility and strives towards always combining business advantages with social and environmental responsibility.  The Company’s Code of Conduct rests on internationally accepted conventions for Human Rights and Labour Rights as well as international guidelines for multinational companies.

WORKPLACE ENVIRONMENT

Diversity and Equal Opportunity
Volvo Cars recognizes diversity and inclusion as a value for its business and is committed to equal opportunity in employment. Our hiring policies and practices require that there be no discrimination because of gender, ethnicity, religion or other belief, political opinion, disability, sexual orientation, age or other characteristics protected by applicable law. All employees of Volvo Cars, as well as those who do, or seek to do business with the Company are expected to honour the Company’s non-discrimination values. One important principle in our commitment to having a diverse and inclusive work place is the Company’s zero tolerance towards harassment. All employees shall treat each other with dignity, respect and courtesy, regardless of any of the above stated characteristics.

Health and Safety
Volvo Cars and its business partners shall provide and maintain a safe and healthy work environment that meets or exceeds applicable standards and legal requirements. Safety should always be one of the most important factors in any decision.

Drugs and Alcohol
Substance abuse poses a threat to all of us in virtually all aspects of our lives, including the workplace. Volvo Cars does not accept any substance abuse, including use or possession of illegal or illicit drugs and alcohol abuse of its employees or business partners at any premises of Volvo Cars.  Employees are prohibited from being at work or on Company business while under the infl uence of, or impaired by, alcohol or illegal or illicit drugs.

Child Labour
Child labour is not accepted in any of Volvo Cars’ business. Volvo Cars does not accept the use of child labour by any supplier, dealer or subcontractor.  In no event will the Company employ any person below the age of 15 unless this is part of a governmental-authorized job training or apprenticeship program that would be clearly benefi cial to the persons participating.

Forced Labour
Forced labour is not accepted in any of Volvo Cars’ business. Volvo Cars does not accept the use of forced labour by any supplier, dealer or subcontractor.  Volvo Cars shall not engage in or support the use of forced labour, nor shall any employee be required to deposit identity papers when commencing employment with the Company. Volvo Cars shall guarantee that all working conditions comply with all statutory requirements.

Freedom of Association and Collective Bargaining
Volvo Cars recognizes the right of all employees to form or join associations of their own choosing, and to bargain collectively. Volvo Car does not accept disciplinary or discriminatory actions from the employer against employees who choose to peacefully and lawfully organise or join an association. Volvo Cars shall respect voluntary organisation by, for example, allowing the collection of union dues on Company premises, posting of trade union notices, distribution of union documents, and provision of office space.

Compensation
Wages and benefi ts shall always be fully comparable with legal or industry standards. Information on wages and benefi ts shall be available to employees in accordance with applicable law.

Working Hours
Volvo Cars shall comply with national legislation on working hours.

BUSINESS OPERATIONS

Marketing
All of Volvo Cars products and services shall be marketed and sold in a fair and honest manner. Marketing of products and services should always comply with national legislation and should be conducted in an honest and fair manner in relation to the characteristics of the product or service.

Bribery and Corruption
Volvo Cars has a long standing policy not to engage in any act that could possibly be construed as giving or taking a bribe or in any other kind of corruption. All employees of Volvo Cars should always follow the Company’s limitations and conditions on accepting or giving gifts or favours from individuals or organisations that do business with the Company, or that are actively seeking to do business with the Company. An offer or a promise in itself can be considered to be a bribe.

Gifts or favours that are offered by suppliers, dealers and others should only be accepted if it is of minimal value, what is considered as minimal value can vary from country to country but shall never exceed €50. Employees of Volvo Cars are not allowed to accept gifts such as cash, gift certifi cates or similar, from an individual or organization that does business with the Company. All employees of Volvo Cars should also know and follow the Company’s directives regarding accepting refreshment, entertainment and other social events associated with the work at the Company.

The Volvo Car’s dealings with its business partners shall be characterised by fairness. Volvo Cars will under no circumstances tolerate giving or receiving of money, gifts or favours to infl uence improperly the behaviour of another individual, organization, politician, government employee or body in furtherance of a commercial or personal advantage or otherwise act in violation with law.

Antitrust Laws and Equal Competition
Volvo Cars is committed to complying with competition laws and fair competition is vital to the success of the Company. The Company must compete vigorously and fairly and without any anticompetitive understandings or agreements with its competitors. Volvo Cars is also committed to comply with competition laws that apply to dealers and other independent business that deal in Company products. This means that these businesses have the right to determine their own policies, and practices, and to select their own suppliers and customers without any restrictions from the Company.

ENVIRONMENT

Product Quality and Safety
It is critical that Volvo Cars builds safe products and that Volvo Cars is active and responsible in all areas of automotive safety. Our products should be design to meet and exceed applicable laws and regulations, but also to advance the state-of-art safety wherever applicable.

Environmental impact
It is Volvo Car’s policy that its operations, products and services should accomplish their functions in a manner that responsibly protects health and the environment. Considerations of potential health and environmental effects should be an integral part of all Company and business partners’ business decisions. Volvo Cars is committed to long-term sustainability and is focused on many initiatives to reduce and minimize the environmental impact of its operations and products, such as fuel economy, reducing vehicle
and plant emissions and reducing water consumption.

The Precautionary Principle
Volvo Cars is applying the Precautionary Principle in its operations. Special precautions should always be taken whenever there is reason to believe that an action can harm human health or the environment. Volvo Cars are avoiding the use of material and methods that might have effects on health or environment as much as possible.

Business partners are expected to continually strive to reduce the environmental impact of their own operations and to ensure the health and safety of their employees.

COMMUNITY INVOLVEMENT

Political Contributions
Volvo Cars is politically neutral and will not contribute to any political party or to any politician. The name of the Company shall not be used in political campaigns or for the benefi t of a specifi c political interest.

APPLICATION AND NON-COMPLIANCE

The provisions of this Code of Conduct set forth the guiding principles of all employees of Volvo Cars, all business partners with whom Volvo Cars does business with, all dealers that sell the products of Volvo Cars, as well as all other representatives that conduct business on behalf of the Company. Volvo Cars expects all business partners to ensure that this Code of Conduct is communicated to their employees and subcontractors. Volvo Cars also expects that all of its business contacts and commercial partners should be governed by the same principals stipulated in the Code of Conduct, or similar ones.

Volvo Cars reserves the right to conduct an audit upon advance written notice to all units producing goods or services for Volvo Cars, at any time. We also reserve the right to appoint an independent third party of our choice to conduct audits in order to evaluate compliance with our Code of Conduct. A supplier failing to undertake sustainable improvements within the stipulated time frame would seriously damage its relationship with Volvo Cars. Unwillingness to cooperate or repeated serious violations of Volvo Cars’ Code of Conduct and local law may lead to reduced business and ultimately termination of the business relationship with Volvo Cars.

All employees have a responsibility and are expected to report any non-compliance to the Code of Conduct to the appropriate representative within the Company, i.e. Human Resources, Internal Audit, Internal Control, Legal Department or Security Department. Volvo Car Corporation (including all its affiliated companies) has a whistle-blowing email function allowing business partners and employees to report suspected or observed bribery and corruption issues, anti-trust cases and fraud such as financial statement reporting and asset misappropriation ("Serious Non-compliance Issues"). Reports can be submitted, preferably in English or in a local language, by sending an e-mail to: codeofconduct@volvocars.com

You are encouraged to sign the e-mail with your own name in order for the reported issue to be handled in the most efficient way. Confidentiallity will be maintained to the fullest extent possible. E-mails sent to the whistle-blowing address are automatically routed to the attention of Senior Vice President, General Counsel of Volvo Car Corporation, who makes an initial evaluation of the report. The decision on further action to be taken is made by the Global Compliance Committee, reporting directly to the Audit Committee of the Board of Directors of Volvo Car Coporation . Cases of a less severe nature that will not result in serious consequenses for the company will no be investigated other than if they refer to persons who are in key positions or in leading positions within the company. Volvo Car Corporation has a policy of non-retaliation, which implies that retaliation is forbidden towards any employee who raises or has raised an issue in good faith, or who cooperates in a Company investigation of an issue.

Volvo Cars also encourages employees of our business partners, to report non-compliance with the Code of Conduct to Volvo Cars.