For an investment company like Ratos, credibility, sound ethical values and regulatory compliance are essential in doing business. Corruption is a widespread problem in the world, leading to ineffective markets and major costs for companies as well as for many countries in the form of limited progress.
An important aspect of Ratos’s active ownership involves mapping corruption risks. A few of Ratos’s companies are considered to have an elevated risk of corruption. The risk assessment was done using a tool devised for Ratos’s investment organisation and the companies, and can be found in Ratos’s CR Handbook. The code of conduct that Ratos’s companies implement contains written business ethics and anti-corruption instructions. All companies will perform corruption risk analyses as part of comprehensive risk mapping and management, and have preventive processes that are risk-specific, such as guidelines for employees and training programmes for people with high-risk jobs.
Ratos’s CR Handbook, which has guidelines, support and best practices for all companies, contains principles for the companies’ anti-corruption initiatives and development of its anti- corruption programme. Companies with an elevated risk of corruption or irregularities have more requirements in regard to preventive efforts in their own operations and with business partners.
As of 2016, Ratos’s general rule is that all companies will have implemented a whistleblowing system, run by an external provider to guarantee anonymity and full integrity. Exceptions can be made for smaller companies that do not have an elevated risk.