Our approach to governance
Ensuring we have the right policies, processes, and an ethical business culture is critical. We aim to operate openly and transparently, and raise our standards.
Our governance strategy defines a strong organisational structure, business conduct policies and practice guidelines.
We foster and promote a corporate culture that encourages health, safety and well-being for all workers.
Executive management and supervisory bodies aim to protect fair business practices dealing with associated risks, compliance, bribery and corruption.
An ethical business culture
The “G” in the ESRS disclosures stands for controlled and transparent corporate management. The disclosure outlines requirements for detailed corporate reporting on topics such as corporate values or management and control processes.
‘We aim to build an ethical business culture across our value chain, that’s why we focus on policies, processes and KPI’s’
Lars Hägerborg
CFO, Toyota Material Handling Europe
Business conduct
Compliance
Our Compliance Committee has the responsibility to oversee matters of legal compliance - including our approach to Anti-Bribery and Corruption and Competition law Compliance.
Regulations, policies & guidelines
We have established policies and guidelines to set internal standards, leading to a harmonised way of working. Policies are mandatory, guidelines give space for local entities to implement.
Management of relationships with suppliers
Our suppliers have accompanied us on our ESG journey for many years. We have asked them to become ISO14001 certified, as this ensures compliance with environmental legislation and requires policies from suppliers to reduce their environmental impact. As a result of this commitment, 98% of our direct material suppliers with an annual purchase value of over € 100K are already certified.
We have also established a set of criteria, based on EcoVadis methodology, that suppliers must adhere to. We also put special focus on employees working directly with suppliers – employees receive specific training on responsible purchasing.
Identifying and managing risks
According to our latest Materiality Matrix, five relevant topics were considered as material and therefore included in our sustainability reporting processes: ‘Governance’, ‘Compliance’, ‘Bribery and Corruption’, ‘Risk Management’ and ‘Responsible Purchasing’. Our upcoming Double Materiality Assessment will update the areas or risks and opportunities we need to further strengthen.
Our approach to sustainability
EcoVadis provides a global business sustainability ratings network - comprised of 95,000 companies, from 160+ countries, across more than 200 industries. Its online platform allows multinationals to access ratings of their selected suppliers.
As a European organisation we use EcoVadis to manage our sustainability performance. We have been rated over 70 out of 100 on our approach to both business ethics and responsible procurement.
Code of Conduct training for all employees
Code of Conduct is our fundamental compass, which contains guidance and a set of binding rules regarding ethical behaviour for all employees. The document comprises of rules that cover topics like discrimination and human rights, and offers guidance regarding use of company assets, insider trading, compliance with local legislation and environmental preservation.
All employees, among others, are trained on our Code of Conduct biannually, with regular updates and bi-annual training courses guaranteeing employees are aware of any changes or adaptations.
Our Code of Conduct Helpline
Our Code of Conduct Helpline is a third-party platform, available to all employees, suppliers and customers who wish to raise concerns. Available every day, 24/7, it can be accessed by phone or via the website to raise any concerns. Managed by our Head of Legal Counsel, you can also request to get assistance of an independent third party, if anonymity is preferred.
More info on whistleblowing & anti-retaliation procedures >>
Read more about G1. Business conduct in our Sustainability report >>
