[ESRS G1 ESRS 2 IRO-1]
The objective in setting up and continuously developing the Compliance Management System is to prevent, detect and respond to compliance violations against the interests of the company, to avoid liability risks and damage to the company’s reputation. Furthermore, to advise and safeguard the company’s management, executives and employees, and to increase efficiency by coordinating existing compliance activities. The Compliance Management System corresponds to the following structure (figure “Elements of the Lenzing Compliance Management System”):
Elements of the Lenzing Compliance Management System
Compliance is based on the corporate values of the Lenzing Group and the measures it takes to promote integrity within the company. Formal structures, such as the assignment of responsibilities, ongoing monitoring and structures for communication, evaluation and documentation are essential components of the Compliance Management System.
The ongoing compliance program is based on the following pillars:
- Measures to prevent misconduct
- Measures to detect compliance risks and weaknesses
- Measures to respond to misconduct and identified weaknesses in order to avoid them in future.
At the meetings of the Supervisory Board’s Audit Committee on March 1, 2023, September 6, 2023, and November 14, 2023, the Compliance Officer reported on the content, objectives and status of the compliance organization, the structure of the Compliance Management System, training, internal and external investigations and various compliance measures (communication, surveys) in a separate agenda item.
Lenzing Global Code of Business Conduct
[ESRS G1-1; GRI 3-3c, 2-23, 2-24]
Compliance measures and business ethics are crucial for Lenzing to comply with a multitude of legal regulations and standards at various sites and countries around the world. Lenzing attaches great value to the integrity and legally compliant behavior of all employees and business partners. Therefore, Lenzing has anchored its principles for compliant behavior in the Lenzing Global Code of Business Conduct, which was updated in 2023. It serves as a guideline, orientation aid and advisor at the same time, so that all employees know how to react appropriately and in compliance with the rules in every situation. At the same time, it points out to Lenzing employees that violations of the Global Code of Business Conduct have serious consequences (civil, criminal, administrative criminal and/or disciplinary consequences, up to and including termination of employment). The Lenzing Global Code of Business Conduct is available to all employees in the Group languages in the intranet (“Lenzing Connect”) and is also accessible to external stakeholders on the company website. It is supplemented by the Global Supplier Code of Conduct, which outlines Lenzing’s expectations for supplier conduct with respect to safety and health at work, labor and human rights, environmental protection, ethics and management practices. An overview of other publicly available policies to which Lenzing has committed can be found here.