Sustainability Report 2023/24

ENGEL
Sustainability Report 2023/24
Sustainable Focus Areas / 07 / Governance
Ethics, integrity & compliance
Impact
Adhering to regulatory requirements and
thus acting ethically and with integrity is the
foundation for sustainable business success.
Accordingly, the aspects of company-wide
compliance and the necessary compliance
management system are diversified. A violation
of applicable regulation and fundamental principles
not only have a negative impact on the
individual person, but can grow into problems
that entail negative consequences for entire
industries, regions and sometimes even countries.
This illustrates that compliance throughout
the entire value chain is of fundamental
importance.
The highest standards apply not only to our
products, but also to our behavior towards all our
stakeholders. We are unreservedly committed to
clearly defined ethical values ​and thus to all legal
regulations, such as those relating to human
rights, environmental protection, labor and antitrust
law and anti-corruption, as well as the values
​to be supported by the whole ENGEL Group.
Disregarding these principles not only has
negative consequences for our stakeholders but
also poses significant risks to ENGEL itself, including
the risk of fines, blacklisting, and serious
reputational damage. Furthermore, it represents
a significant threat to ENGEL’s stated goal of
sustainable corporate governance.
To strengthen the conformity of ethics and
compliance within ENGEL Group, all employees
are familiarised with the binding rules set
out in the Code of Compliance. The internal
ENGEL Code of Compliance represents the
company’s fundamental values and serves as
a guideline for all ENGEL Group companies. It
forms the basis for sustainable, ethically sound
and legally compliant business conduct and is
a binding set of rules. It represents the essential
elements of the ENGEL corporate philosophy –
and thereby serves as a strong pillar of ENGEL’s
sustainable success.
Our normative foundations and
how they relate to each other
Principles / Commitment
Goals
Code of
Compliance
Guidelines
Instructions
(Business-) Decisions
In addition to the Code of Compliance,
once a year, ENGEL employees are asked to
participate in the online internal compliance
training via the e-learning module. In the fiscal
year 2023/24, 90 percent of ENGEL employees
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