Sustainable Business at Siemens
The Siemens Compliance SystemBeing a responsible company – this is our foundation. With our compliance system, we want to establish compliance in the minds and actions of all Siemens employees.
For Siemens, promoting integrity means acting in accordance with our values - responsible, excellent, and innovative – wherever we do business. A key element of integrity is compliance: adherence to the law and to our own internal regulations. We have zero tolerance for corruption and violations of the principles of fair competition.
The Siemens Compliance System is divided into three action levels: Prevent, Detect and Respond. These action levels encompass a comprehensive system of activities by which we intend to ensure that our business is completely in accordance with all applicable laws and regulations, as well as with our own internal principles and rules.
Business Partners Code of ConductSiemens has required its suppliers and business partners with an intermediary function to adhere to a code of conduct. This code is modeled after the 10 principles of the United Nations Global Compact. It covers legal compliance in general and our anticorruption policies in particular, including provisions against anticompetitive practices and conflicts of interest.
Selection and monitoring of our business partners
Under certain circumstances, Siemens can be held legally responsible for the actions of its business partners. We counter this risk by taking a comprehensive approach to selecting our partners, by contractually obliging them to adhere to our Code of Conduct, and by monitoring the ongoing collaborations. This process covers the entire life cycle of the business partnership. Our compulsory companywide Business Partner Compliance Tool supports implementation of the process and ensures documentation of relevant information and activities. And we systematically harness the potential of big data using dashboards and analytics to improve risk management and the monitoring of our business-partner relationships.
Integrating compliance into our business processes
Integrating compliance into our business processes has played a crucial role in creating an effective compliance system, and a key aspect of this has been educating our customers about our compliance principles.
One example of this took place in 2018 at the Hannover Messe, the world’s most important industry trade fair. There the Digital Factory and Process Industries and Drives divisions presented the new game “Compliance included …” to their customers. When it comes to compliance, this is what Siemens is all about: clean business, always and everywhere!