code-of-conduct-for-business-ethics-in-demant

Performing
with integrity

The way we act as company is reflected in how we connect with employees, users, customers, third parties and other stakeholders. We take a proactive approach to business ethics to ensure we behave as a company we can be proud of.

We have a strong business ethics programme, which reflects our commitment to high level business ethics it lays the foundation for Demant’s larger sustainability agenda. Read more about it at Business ethics page.

We strive for high ethical standards and conduct business with integrity and honesty. We strive to act responsibly and are committed to operating our business in accordance with the law and the minimum standards set in our Code of Conduct.

  • icon-code-of-conduct
    Providing code of conduct training to highly exposed employees

    2024 performance
    76%

    2030 target
    100%

  • business-ethics-days_round
    Conducted Business Ethics Days to further educate our champions on business ethics compliance
  • coc-elearning-round
    Launch of e-learning for global Code of Conduct and Whistleblower scheme – in 11 languages
  • gift-and-hospitality-round
    Update of Gifts & Hospitality Guidelines by adding country-specific appendices
  • sustain_round
    Launch of Sustain, a supplier engagement programme for our Hearing Aids business area

A quality mindset

hearing-aids-marketing

Ensuring the highest standards of quality and safety in our products, while meeting the regulatory requirements, is crucial to our purpose of providing life-changing differences through hearing health.

Working with quality is vital for us to sustain the high standards and reliability of our products and to ensure the safety of our customers and users. We ensure that the Group complies with relevant regulations related to specific substances and defines quality management in quality policies for the Hearing Aids and Diagnostics business areas.

We furthermore mitigate risks associated with quality and safety by Biological Safety Evaluation and use ISO10993 as a guiding standard. We evaluate materials in skin contact in accordance with the standard and when necessary, we perform animal testing according to ISO10993-10 while evaluating whether chemical extraction and characterization is deemed sufficient instead. These tests are conducted by external partners.

To safeguard our ability to deliver the clearest communication to our customers and users, clinical validation and marketing processes ensure that we conduct responsible marketing all the way from headquarters to local markets. 


Restricted list
We ensure that the Group complies with relevant regulations related to specific substances. All relevant substances, which are banned or restricted, are listed in the restricted list.

The restricted list is based on the following regulations:

  • Restriction of Hazardous Substances (ROHS)
  • Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) directive
  • Toys directive

As far as conflict minerals are concerned, which are subject to the requirements of Dodd-Frank Section 1502 or Regulation (EU)2017/821, suppliers are requested to declare content.

On top of the mandatory legal requirements, we have imposed extra restrictions on our use of substances, e.g. a ban on the use of all phthalates and natural rubber latex.

Zooming in on data privacy

data-privacy

We handle personal data of our employees, customers, users, business partners and other stakeholders with the utmost care and respect, recognizing its sensitive nature, especially when it comes to hearing health information. Protecting the confidentiality and integrity of the data we manage is among our top compliance priorities and we work to safeguard personal data at every stage of our data processing operations.

To achieve this, we continuously implement high-level security measures and procedures, launch and update relevant policies and run several internal initiatives including training and awareness. When it is necessary, we also cooperate with the authorities if the situation requires.

Among the internal initiatives to address the challenges of data privacy management under the EU legislation, GDPR, we have established a network of Data Privacy Champions. It comprises around 110 participants, including appointed Data Privacy Champions in various locations and employees working on privacy tasks. The network aims to share knowledge of development and best practices across different regions related to data privacy. This granular approach allows for a more effective alignment of practices and policies.

Navigating the complexities of data privacy and related regulations
The data privacy landscape is increasingly complex. As our industry and products become more digital, the internal demand for data privacy support equally grows. Legislation is evolving and becoming more intricate and requires us to continuously monitor and adapt our processes and policies accordingly.

As an example, we are seeing a rise in new regulations to address artificial intelligence. We strive to provide our business with the best possible guidance to meet the current and new requirements, ensuring that our internal procedures facilitate ongoing work in this field.

Working with suppliers

sustain

Our commitment to caring for people extends not only to our own employees, but also to the workers that we impact indirectly in our value chain. We work to ensure that robust processes are in place to support the protection of rights at every stage.

As a global business with suppliers all over the world, we are very aware of the importance of our interactions with them. Our Third Party Compliance Code outlines our expectations for suppliers and business partners regarding working conditions for workers in our value chain.

Our close collaboration with suppliers enables us to consistently deliver quality products in scale and thus ensure timely delivery throughout our value chain. At the same time, it allows us to assess how sustainable practices are integrated in their businesses, ensuring our business remains competitive and responsible in the long term. This collaborative approach not only helps us meet our sustainability targets but also encourages our suppliers to improve their own operations, creating a ripple effect. The engagement we pursue opens the door to innovative solutions and builds trust and transparency.

Aware of the importance of this engagement, we launched Sustain, our supplier engagement programme for our Hearing Aids business area. This programme aims at fostering collaboration with suppliers, focusing on decarbonisation and addressing human rights impacts within our supply chain.