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, to achieve economic success in line with ethical responsibility, is also mirrored in STADA’s Code of Conduct, which provides guidance to employees particularly for correct 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.
Since financial year 2016, STADA has begun to increasingly obligate itself and its suppliers in their contracts to adhere to the ten principles of the UN Global Compact. This is associated with an obligation to, among other things, respect and support 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. At the same time, in the context of a social compliance questionnaire, STADA also increasingly queries its suppliers regarding their handling of the universal rights of each individual (see Annual Report 2017: Responsible Corporate Governance and Compliance).
Further, a person’s right to integrity is taken into account using the application of GCP in STADA’s development and manufacturing practices (see Annual Report 2017: Product Safety and Quality) or using EHS evaluations for example (see Annual Report 2017: Fundamental Information about the Group – Product Development).