Code of conduct
Vörður has adopted a code of conduct. Its purpose is to promote social responsibility, honesty, fairness, and integrity in business, and to build trust in Vörður among customers and the public.
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Vörður has adopted a code of conduct. Its purpose is to promote social responsibility, honesty, fairness, and integrity in business, and to build trust in Vörður among customers and the public.
Vörður has adopted a sustainability policy based on Nasdaq's ESG guidelines. A constantly changing world affects the environment and communities everywhere, and these changes affect our customers, staff, and operations. To meet these challenges, and for the benefit of all stakeholders, Vörður aims to have a responsible and sustainable impact on the environment and society in which it operates. Management recognises the responsibility the company holds towards its customers, shareholders, staff, and society. Vörður's staff follow a code of conduct designed to ensure sound and proper business practices and to help prevent corruption and bribery, among other things. The company expects good ethical standards from its business partners and has set out the following code of conduct for its suppliers:
Business ethics
Comply with the laws and regulations that apply to them, and operate in line with sound and proper business practices. Work at all times against corruption, including bribery, extortion, and fraud. Suppliers must not offer, request, demand, give, or accept bribes, directly or indirectly, for themselves or others.
Environmental matters
Understand the environmental impact of their operations and work systematically to reduce it.
Child labour and forced labour
Ensure that staff work of their own free will and without coercion. Do not employ children under the legal working age to carry out work that is hazardous or harmful to their health and safety.
Freedom of association and the right to collective bargaining
Respect and recognise staff's right to freedom of association and collective bargaining. Where this right is restricted under the law of the relevant country, suppliers must allow staff to elect representatives to protect their rights in the workplace.
Pay, working hours, working conditions, and labour law
Pay staff regularly (at least monthly), and ensure that payments, or any part of them, are not withheld by intermediaries. Staff must be paid at least the minimum wage required under the law, regulations, and/or collective agreements in the relevant country. Comply with laws and regulations on staff rights, such as rest periods, working hours, holiday entitlement, sick pay, and other terms of employment.
Health and safety
Ensure a safe and healthy working environment in line with social and technical developments in society. Take measures to reduce the risk of accidents and negative effects on staff health.
Discrimination
Ensure that staff have equal opportunities and enjoy equality without discrimination on the basis of gender, race, religion, age, disability, sexual orientation, nationality, opinions, financial circumstances, family background, or other status. Work in a spirit of equality where bullying, sexual harassment, gender-based harassment, and violence are condemned.
Conflicts of interest
Avoid any conflict of interest in their dealings with the company. A conflict of interest includes, for example, cases where a supplier's representative, or their friends or relatives, have or could have a personal interest in the business in question. Suppliers must, without exception, notify the company of any potential conflicts of interest.
These rules are meant to remind all Vörður staff to avoid any conflicts of interest and questionable business practices that could damage the company's reputation or their own. They offer broad guidance on integrity and business ethics, and set out how we approach the challenges we meet in our work.
The rules specifically address matters such as professional conduct, supporting the company's reputation, handling information and releasing data from the company, staff responsibilities, provide a framework and guidance for decision-making when ethical issues arise, offer guidance on staff behaviour and their work, provide instructions on handling company assets, dealings with the media and regulators, and respect for laws and regulators.
An ethics committee operates within the company, tasked with drafting and reviewing the rules, handling reports and enquiries, and assessing reports of breaches of the code of conduct.