Pneumatech Accountability

In all our communications, both written and spoken, we are committed to being open, truthful and accurate within the limits of commercial confidentiality. We provide reliable and relevant information on our activities in a timely, regular manner. We consider interaction important and therefore have a positive attitude toward constructive dialogue with all of our stakeholders.

Pneumatech has established high reporting standards, where each employee involved in the recording, processing and reporting of information is expected to safeguard its validity and correctness.

• Whenever we operate, our reputation is a most valuable asset, and it is determined by how we act. We shall avoid any action that would jeopardize respect for Pneumatech.
• We have high standards of business and personal ethics; we adhere to our internal policies and follow all applicable laws and regulations in the countries where we operate.
• We are commited to honesty in every situation and we refrain from having interests which conflict with the interests of the group.
• We support and strive for fair competition and thus refuse to enter into discussions of agreements with competitors concerning pricing, market sharing or other similar activities.
• We refrain from giving or receiving anything of more than token value to or from any stakeholder, to avoid the risk of creating an unhealthy loyalty.
• We respect company assets and safeguard all tangible and intangible assets of the group from loss, theft and misuse.
• Pneumatech does not take political stands. Therfore we do not use Pneumatech funds or assets to support political campaigns or candidates or otherwise provide services to political endeavors.

Pneumatech management is responsible for approving the overall Pneumatech strategy and orgnaization.

Group executive management is responsible for developing and following up on Pneumatech strategies, objectives and policies, including financial, social and environmental performance, under the leadership of the group CEO.

The Business Code of Practice summarizes policies common to all entities in our orgnaization. Our behavior is guided by these internal policies, helping us to increase the value of Pneumatech.

These policies, along with other principles, guidelines and instructions are gathered in The Way We Do Things, an internal database accessible to all employees through the group's intranet. It is the responsibility of each employee to be familiar with and adhere to the content of The Way We Do Things. Appropriate training is provided through our Circles program, which is mandatory for all new employees. We inform key stakeholders about our Business Code of Practice.

Based on the policies described in The Way We Do Things, operational units prepare strategies and implementation plans.

Follow-up procedures are established for each policy. Social and environmental performance indicators are reported and followed up on a group level. Risk assessments in relation to our key stakeholders regarding legal, as well as social and environmental performance, are reported at board meetings.

To safeguard the implementation of our policies, internal audits are conducted on site.