Ethical business practices

Our Board of Directors oversees our sustainability agenda and steers the direction, whereas the Executive Committee approves annual plans and the execution of the development roadmap. The sustainability leadership team represents each of our business divisions and is responsible for monitoring and developing Uponor’s sustainability agenda, including target setting. Segment-based sustainability teams, in collaboration with local responsible teams, execute their own development projects to complement our overall sustainability performance.

We are committed to the UN’s Global Compact Business Ambition and its Ten Principles, which ensures uncompromised business and human rights.

Our Code of Conduct includes zero tolerance for anti-competitive activity, bribery, discrimination, and unethical business behavior. We have established whistleblowing channels, both internal and external, to provide the right tools to address any deviations from our normative and ethical framework.

We organize various compulsory compliance training across our markets, including ESG-related training for all of our 4000+ employees.

Active engagement and transparently exchanging information with all our stakeholders is vitally important — not only from the perspective of developing business activities, but also for contributing to sustainable societies.

In 2021, we launched our new Supplier Code of Conduct to commit our supply chain even more closely to our values and ambitions. All new suppliers are required to commit to our ethical, environmental, and social requirements, as well as fulfill our ESG criteria upon supplier evaluation.

Target by 2027:

• 90% of spend covered by the new Supplier Code of Conduct

To ensure full alignment and sufficient resources on the important mission we have taken on, our management STI and LTI programs are linked to ESG targets.

In 2021, we signed two separate long-term load agreements, worth 70 million Euros, with sustainability-linked performance targets, and in 2022, we signed a new $50 million, five-year revolving credit facility, with its pricing mechanism linked to sustainability targets, linking the margin to greenhouse gas emission reductions.

Tax and tax-like charges we pay, collect, and remit support the maintenance of society at large and its services. We entirely comply with tax requirements in the countries in which we operate, and further harmonize tax processes to improve visibility to our taxes. We are committed to ensuring that the information we publish in our tax reporting is substantive and correct.