Code of Conduct
This code of conduct (the "Code of Conduct") has been approved by the board of directors of Bioretec on 11 February 2025. The purpose of the Code of Conduct is to ensure that all employees of Bioretec and its group companies follow shared basic ethical principles (Bioretec and its group companies are herein referred to as "Bioretec").
The Code of Conduct is reviewed by the board of directors of Bioretec annually and whenever required by material developments in Bioretec's business, business, or operational environment or changes in legislation materially affecting Bioretec. The chief executive officer of Bioretec is responsible for monitoring compliance with the Code of Conduct, evaluating the need to amend or update the Code of Conduct, and ensuring appropriate and adequate training of Bioretec's staff in matters covered by the Code of Conduct. Changes or amendments to the Code of Conduct are approved by Bioretec's board of directors, but the chief executive officer is authorized to make such changes that are technical or non-material in nature.
Bioretec’s Code of Conduct describes generally approved practices and the company’s commitment to abiding by laws and regulations in the following specific areas.
Legal compliance
Bioretec complies with all laws, regulations, and binding commitments applicable to its business domestically and internationally. Bioretec’s internal organisation is structured to meet the requirements of its quality management system certified according to ISO 13485:2016. All employees are required to abide by applicable legislation when conducting their professional duties in Finland or in other countries and the same is expected from Bioretec’s business partners.
Anti-bribery and anti-corruption policies
Bioretec does not approve of bribery or corruption in any form. All corruption and bribery is forbidden with regard to Bioretec’s operations. Bioretec and its employees, or third parties acting on Bioretec’s behalf, must not promise, offer or give bribes or other illegal payments directly or indirectly to any authorities, officials or other parties in order to facilitate the commencement, extension or continuation of business or for any other reason. Neither shall Bioretec and its employees, or third parties acting on Bioretec’s behalf, request or accept bribes or any illegal payments. No employee of Bioretec, or third parties acting on Bioretec’s behalf, shall be involved in any activities that would compromise confidence in Bioretec’s impartiality or operational integrity.
Anti-money laundering and international sanctions
Each employee of Bioretec must comply with legislation related to the prevention of money laundering and terrorist financing. No business operations must be engaged in with persons that are the subject of criminal prosecution or international sanctions.
Bioretec commits to monitor and keep record of any shareholders, directors, officers or employees of Bioretec and persons with whom Bioretec has dealings to the extent such persons are the subject of international sanctions.
Conflicts of interest
Bioretec and its employees avoid situations in which Bioretec’s, and its employees’ interests are conflicting or inconsistent. Employees should always act in the best interest of Bioretec and respect the rights of Bioretec’s customers. Bioretec’s employees must not participate in business or other activities that may create a conflict of interest between the company and the employee or his or her related parties. All employees are obligated to disclose any possible conflicts of interest to the extent permitted by applicable law.
Confidentiality
Bioretec’s employees may gain confidential information concerning the business operations of Bioretec or its contractual partners. Confidentiality of information must be maintained at all times.
Employees must ensure that all confidential information remains undisclosed, regardless of whether the information has been received from Bioretec or from a party engaging in business operations with Bioretec. Disclosing such information is only allowed if express permission has been granted for its disclosure or if a disclosure obligation exists based on mandatory applicable law.
Data protection
Bioretec complies with the applicable data protection legislation that establishes the obligations for collecting, handling, processing, transferring and possessing personal data.
A justified reason as required by the applicable data protection laws and regulations must always exist for processing personal data. Personal data can only be collected and processed on legal grounds specified in the law in accordance with Bioretec’s privacy policies and the agreements with its customers.
All of Bioretec’s employees must abide by Bioretec’s information security and data protection policies.
Environment
Bioretec’s goal is to reduce and prevent the harmful impacts of Bioretec’s operations on the environment, people, and property, as well as to promote the efficient use of natural resources. Bioretec maintains organizational structures, management systems, and procedures in accordance with relevant environmental laws, regulations, and operational standards.
Equal opportunities
Bioretec adheres to diversity and promotes the equal and consistent treatment of all employees in all areas of work regardless of the employee’s ethnic background, nationality, race, age, gender, religious beliefs, sexual orientation, marital status or other similar status protected under law.
Human rights
Bioretec respects and promotes human rights as they have been defined in the United Nations’ Universal Declaration of Human Rights. These rights include freedom of opinion, expression, religion, assembly and association, and the right to be free from any discrimination based on race, age, nationality, gender or sexual orientation.
Whistleblowing channel
When potential risks or issues related to this Code of Conduct are detected at Bioretec Bioretec employees should contact their supervisor or Bioretec´s CFO. Bioretec’s employees, Bioretec’s business partners, and other Bioretec stakeholders can report breaches of this Code of Conduct through Bioretec’s Whistleblowing channel available on the company website bioretec.com/whistleblowing.
Each case is taken seriously and handled confidentially in accordance with Biorotec’s processes. Bioretec takes appropriate action regarding any breaches of this Code of Conduct.