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Observance of Human Rights
For STADA, good corporate governance means that the focus is not only on the achievement of goals, but also on the way in which these goals are achieved. The Company goal of achieving economic success in line with ethical responsibility, is also mirrored in STADA’s Code of Conduct, which provides guidance to employees particularly for proper behavior when facing legal or ethical challenges. It includes, for example, behavioral guidelines for dealing with each other and with third parties as well as rules regarding tolerance, respect and discrimination. In addition, the Code of Conduct explicitly states that STADA markets and sells its products in accordance with all relevant rules and regulations and prohibits the use of forced or exploitative child labor in any form whatsoever.
Contracts negotiated since financial year 2016 pursuant to the Corporate Policies and which have been negotiated in connection with the production of finished goods include additional clauses on the topic of Corporate Social Responsibility within the scope of which STADA and its suppliers are increasingly obligated to comply with the ten principles of the UN Global Compact. This is associated with an obligation to, among other things, support and respect the protection of international human rights and ensure that neither party is complicit in any violations of human rights and commits to the removal of all forms of compulsory labor and to the elimination of child labor. Within the context of an increasingly sustainable cooperation with STADA suppliers, measures were looked at in the reporting year to determine the extent to which extent compliance with basic environmental and social standards can be improved and, if necessary, monitored. This was followed by potential evaluation approaches such as self-disclosures (e.g. in the form of questionnaires) and audits. Accordingly, the objective in the current financial year is to integrate an option for auditing suppliers on the subject of Corporate Social Responsibility in the contractual clauses for suppliers.