Code of conduct

Code of conduct

It takes time to build successful businesses. MIDAQ creates that success through active ownership, long-term perspective, and sustainable development. We work both operationally and strategically with activities that promote long-term business. This means that we follow the laws and regulations that govern the Group's activities. The purpose of the code of conduct is that it should be comprehensive, but at the same time easy to follow. MIDAQ follows the 10 principles formulated by the UN Global Compact.

The work with the Group's code of conduct is based on the vision:

  •  active ownership
  •  long-term perspective
  •  sustainable development

The following keywords are central to achieving the vision:

  • Businesslike
  • Passionate
  • Prestigeless

MIDAQ has created a framework for the Group's work with the code of conduct. By being a long-term, active, sustainable, and hence responsible owner, MIDAQ has created the basis for each business area's work with the code of conduct. The parent company shows the direction for the code of conduct and places high demands on each business area. The goal is to set the requirements for the MIDAQ Group and in that way be able to meet the expectations that exist from stakeholders.

Employees

The MIDAQ’s Group code of conduct has been approved to emphasize the principles that govern the Group’s relationships with employees, business partners, and other stakeholders. The code of conduct applies to all board members and employees within the MIDAQ Group. However, the business areas may have a code of conduct, in addition to the Group’s code, which is applied to their own business. The MIDAQ Group’s code of conduct shall be seen as a framework and a minimum for each company in the Group.

Senior executives must appear as role models. "Tone at the top" is important and guiding. Senior executives must support the MIDAQ Group's vision and key words as well as the code of conduct. MIDAQ urges all its business partners to apply these principles. This document is applied when evaluating business partners.

Human rights

The MIDAQ Group supports and respects international human rights and works to prevent human rights violations from occurring.

Business principles

Laws and regulations must be applied in all countries where MIDAQ operates. In cases where the legislation does not provide guidance, separate standards are applied, which are based on the Group's core values ​​and culture. The MIDAQ Group shall not offer business partners or authorities rewards or benefits that violate applicable law. MIDAQ Group employees may not receive payments, gifts, or other forms of compensation from a third party that may affect the objectivity of the business decision.

Accounting and reporting

The MIDAQ Group must always report in accordance with generally accepted accounting principles and the accounts must show the transactions in a correct and non-misleading manner. The MIDAQ Group's accounts must be truthful and comply with current regulations in each country.

Equal treatment

The MIDAQ Group recruits and treats employees in a way that is non-discriminatory  in terms of gender, religion, age, functional variation, sexual orientation, nationality, political opinion, trade union or other association affiliation, social or ethnic origin. The MIDAQ Group encourages diversity at all levels in the Group.

Environment

The MIDAQ Group's products, services and processes aim to be designed in a way that efficiently utilizes energy and raw materials and minimizes waste and residual products over the product's lifespan. The MIDAQ Group has an overall environmental policy, but each business area designs its own environmental policy which, in addition to the framework, is adapted to its own company. The MIDAQ Group shall avoid materials and methods that may lead to environmental and health risks in cases where alternatives are available.

Labour

Work performed by children or through coercion or threats of violence is not accepted by the MIDAQ Group. The minimum age for employment is the age reached when compulsory schooling has ended. The MIDAQ Group must respect freedom of association and the right to collective bargaining and agreements.

Managers and employee’s responsibilities

The MIDAQ Group's managers are responsible for informing and presenting the contents of this document to their organization. Managers should also encourage employees to report behaviours that are inconsistent with these principles. Explicit or implied acceptance of dubious acts is not tolerated.

Whistleblowing

The MIDAQ Group advocates a transparent business climate and a high level of business ethics, where all employees have a key role to play in capturing any irregularities that need to be corrected. Violations of this code of conduct or other irregularities must be reported confidentially to the closest manager or business area management. If you want to report an issue anonymously, it is done through the MIDAQ Group's whistleblower system, through direct contact with MIDAQ AB's Chairman of the Board Gunilla Rittgård via phone +46 (0)72-209 2010 or via email, rittgard@icloud.com. This code of conduct must be applied continuously, and non-compliance may lead to disciplinary action.

Continuous updateThis document has been adopted by the board of MIDAQ AB and will be continuously updated with new requirements, guidelines, or rules and new legislation.

November 9, 2021

The board of MIDAQ AB

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