At H&M Group, we make it a rule to act with integrity at all times. Our business principles commit us to comply with all rules and regulations in each country where we operate and do not accept any form of corruption.
We implement this commitment through our Code of Ethics, which has been in place since 2003. The Code of Ethics states a zero tolerance policy on corruption and demands compliance with all relevant laws and our own business principles. It states, among other things, that business partners should not provide any kind of gifts or favours to H&M Group employees. In the same way, H&M Group employees must not ask for or accept any personal advantage from a business partner.
All our business units are regularly assessed as regards the risks of corruption. Based on this risk assessment, the Code applies to all business partners and all H&M Group employees who are in regular contact with these. All colleagues working in our offices around the world, as well as store management, and all our business partners must sign the Code of Ethics and commit to comply.
We make all our business partners and relevant employees aware of the Code and we provide the information and training necessary to understand and comply with it. All suppliers must sign the Code before they can be accepted by H&M Group. We inform all new employees of the Code during the recruitment process.
Corruption
Corruption is a challenge in many of the markets where we operate. We have a zero tolerance policy and take a proactive approach in preventing corruption. This is described in our Code of Ethics, which applies to all of our business partners, not only suppliers, and of course all our 179,000 colleagues around the world.
We conduct regular corruption risk assessments and, rather than aiming at zero cases on paper, our goal is to actually find the cases where our Code of Ethics has been violated. We see education and building awareness as crucial tools in preventing corruption, especially in high-risk countries. Our Code of Ethics – provides a clear backbone to our business, ranging from our clear commitment to legal compliance in the countries in which we operate to not accepting or facilitating any form of corruption with a clear no-gift policy.
Our tax policy always reflects our business and we are tax compliant at all times. All taxes and fees are paid at the appropriate time and according to local laws and regulations in the countries where we operate. The company’s tax rate depends on the results of our entities and the corporate tax rates in each country.
H&M Group provides a secure Speak-Up channel, to our employees, business partners and third parties to inform us of suspected of Code of Ethics violations. All reports will be investigated and appropriate actions taken.
