Sustainability at Glaston

At Glaston, responsibility is part of our day-to-day operations. Glaston is committed to complying with national and international law, regulations and commonly accepted operating methods in full in everything it does.

Glaston respects human rights and basic labor rights according to the United Nations Universal Declaration of Human Rights, and the company is committed to implementing the United Nations Guiding Principles on Business and Human Rights, the United Nations Global Compact, the OECD’s Guidelines for Multinational Enterprise and the International Labour Organization’s Declaration of Fundamental Principles and Rights at Work.

Glaston’s day-to-day activities are guided by the Code of Conduct. Approved by the Board of Directors, the Code of Conduct includes a commitment to respecting human rights. The company requires its employees to comply with the Code.

In 2022, Glaston’s operations began to pay more attention to the processes of assessing and identifying human rights impacts, and the company carried out a non-formal human rights risk assessment regarding the nature of the company’s business and areas of operation. The company is primarily active in Europe and the United States. Glaston’s Code of Conduct and the suppliers’ Code of Conduct play an important role in the management of human rights risks.

In the future, Glaston will assess its human rights impact (human rights due diligence) in order to identify any human rights impacts related to our business and to prevent or mitigate any related risks. If any impacts are identified, we will attempt to eliminate, prevent or mitigate them. We provide people who are affected by the impacts with access to legal remedies or possible compensations if it is discovered that we have caused or contributed to the impacts.

Glaston is committed to responsible sourcing, which includes, among other things, supplier requirements and audits as well as implementation of human rights and occupational safety. Most of Glaston’s approximately 2,000 active subcontractors operate in Europe, where the company’s largest assembly and production units are located.

In 2020, Glaston published a separate code of conduct for its suppliers (Glaston Supplier Code of Conduct), to which the company requires suppliers to commit. In 2022, the suppliers’ commitment rate to the Code was significantly increased. In addition, commitment has also been increased as part of the company’s purchasing agreements.

An audit model for suppliers, which includes a human rights due diligence form was created during 2022. The implementation of the audit model will start in 2023.

At Glaston, combating corruption and bribery is included in the company’s Code of Conduct, and the topics are covered extensively in Code of Conduct training.

In 2020, in order to focus particular attention on risks related to bribery and corruption, Glaston’s Board of Directors approved the Group’s anti-bribery and anti-corruption policy. The purpose of this policy is to increase Glaston employees’ awareness of the risk of corrupt payments, to unequivocally prohibit the payment and receipt of bribes, and to ensure that the company conducts business honestly, in accordance with ethical standards and in compliance with anti-corruption laws, rules and regulations.

A separate anti-bribery and anti-corruption training program was completed at the end of 2022, and it will be launched in early 2023.

Any violations of the Code of Conduct and other guidelines can be reported to Glaston’s General Counsel using the email address created for this purpose and anonymously via Glaston’s whistleblowing channel. Glaston investigates all reported incidents promptly and confidentially and takes appropriate action based on the findings of the investigation. The process is fair to all parties, and may person making a report in good faith will not be subject to retaliation. Moreover, no action will be taken against persons suspected of wrongdoing until the case has been carefully investigated.