As a worldwide company, THORNICO has a global responsibility to act from a holistic mindset in relation to the world, its population and their joint future. In THORNICO, this responsibility is incorporated under the Company Karma business philosophy, which is a core aspect of the way THORNICO intends to do business regardless of industry and market. In its commitment to Company Karma, THORNICO and its group companies are thus involved in different activities that serve to expand the positivity of doing good both internally and externally. To secure a continuous dedication and development of Company Karma, THORNICO’s Code of Conduct introduces a number of Company Karma tools which serve to manifest the business philosophy in all business sectors in THORNICO and its group companies. THORNICO seeks to establish a widespread and global commitment to responsible business practices in order to support the transparency and interconnectedness of its businesses all over the world.
To secure a global commitment to Company Karma, THORNICO has developed its Code of Conduct as both an internal tool to guide all group companies and their subsidiaries in terms of the joint corporate responsibility they have to all of their internal and external stakeholders around the world and as an external way of communicating the THORNICO policies. A united dedication to Company Karma will increase the positive impact the THORNICO conglomerate has on its surroundings while functioning as a valuable business differentiation that will be echoed in the business world at large.
THORNICO’s Code of Conduct emanates from the following declarations:
• United Nations Universal Declaration of Human Rights (1948)
• ILO Declaration on Fundamental Principles and Rights at Work and its Follow-up (International Labour Conference, 18 June 1998)
• Agenda 21 (UNCED Rio 1992)
• United Nations Convention against Corruption (General Assembly resolution 58/4 of 31 October 2003)
The policies and regulations are a natural part of our Company Karma business philosophy and elaborate on THORNICO’s general approach to responsible business practice and identify the measures that need to be taken to uphold this responsibility, which is a core value throughout all companies. On a board-level, all companies have committed themselves to comply with our Code of Conduct inclusive policies regarding human rights, labour, environment, anti-corruption and General Data Protection to prevent any breach and to make sure that the policy is implemented correctly in all THORNICO companies and is fully met by all employees, including managers and directors. The Code of Conduct is divided into three key focus areas securing a holistic approach to the companies’ responsibilities, namely 'human', 'globe' & 'economy'.
Additionally, THORNICO has introduced all our European companies to the regulations of GDPR (the Data Protection Law Enforcement Directive and other rules concerning the protection of personal data) in order to ensure that they meet the rules accordingly, and our companies have taken part in a risk assessment and mitigation process with a view to ensuring that all regulations are met.
Our globe is constantly confronted with environmental challenges, and notions like global warming, urbanisation, lack of renewable energy sources and overpopulation have all become the natural course of our lives on Earth. Within the principles of ‘globe’, THORNICO strives to minimise any negative environmental impact the company might have. Integrating a concern for the environment into the different businesses in THORNICO is, therefore, a natural part of Company Karma.
Additionally, as a policy within ‘economy’, THORNICO is required to publish its tax strategy for the UK in accordance with the UK Finance Act (Finance Act, 2016). This internal UK Tax Strategy can be found here