We work to ensure that we run our business responsibly and to the highest ethical standards.
Responsible business conduct
We are committed to ensuring that our ESG commitments are converted to positive impacts through ambitious targets and dedicated action. Our Code of Business Conduct and policies provide guidelines for our business practices and set out how we operate in an accountable way with consistency across all markets.
Employees are encouraged to raise breaches of the Code of Business Conduct through an independent Business Ethics Line or by reporting to the Corporate Compliance Committee. Anonymous whistle blowing is possible wherever permitted by local law. The Corporate Compliance Committee reports to the Audit Committee about breaches or suspected breaches of the Code. The members of the Board receive training around their duties when appointed. In addition to reviewing any suspected compliance breaches, the Corporate Compliance Committee initiates a minimum of one activity per month to raise awareness about ethical behaviour.
Read more about our Human Rights and Ant-slavery Policy, Collective bargaining and Data privacy and cybersecurity in our 2022 Sustainability Highlights Report.
Managing our risks and opportunities is a key factor in the continued business success of Colt Group. We strongly believe that good risk management creates a more resilient and sustainable business. Colt Group operates an Enterprise Risk Management Framework covering all types of risks, including sustainability risks. The risk management process at Colt Group is based on the ISO 31000 principles and follows a 4-step cycle: identify, assess, respond and monitor.
In 2022, Colt Group updated the climate-related risk register which identifies all climate-related risks to our operations including those regarding the transition to a lower-carbon economy, as well as the physical risks of a changing climate. The impact and likelihood of each risk have been assessed over a relevant time horizon in order to give an overall risk rating. In line with the requirements of the Task Force on Climate-related Financial Disclosures (TCFD ), this year we completed our initial climate scenario analysis to better understand the potential impact of climate change and the appropriateness of controls in place to prevent them.