Compliance at Phoenix Contact
Compliance is an integral part of Phoenix Contact’s DNA and is given a correspondingly high level of importance. Therefore, the central Legal and Compliance Department reports directly to the Chief Financial Officer.
The core of the Compliance Management System is the Phoenix Contact Group Code of Conduct. It applies in all Group companies worldwide. It is supplemented by measures such as the whistleblower system and our policy statement on the German Supply Chain Act (LkSG).
Our Compliance Management System is a key element of our corporate governance and is anchored worldwide. It is much more than “complying with legal requirements”. As part of our culture, it underpins our credibility and contributes to risk prevention and mitigation.
Code of Conduct
The Code of Conduct of the Phoenix Contact Group forms the core of our compliance measures. At the same time, it is our common denominator and applies without restriction to all employees. To facilitate this, it is available worldwide, both internally and externally, and in various languages.
The German Supply Chain Act
Phoenix Contact has been subject to the new German Supply Chain Act (LkSG) since January 1, 2023. However, human rights have always been a central component of our corporate culture.
We have taken the LkSG as an opportunity to make our activities even more transparent in line with the law: to this end, we have put together a cross-functional team to work on the systematic implementation of the LkSG worldwide. We have published the details in a policy statement regarding the LkSG. We have also revised our Code of Conduct to give the issue even greater priority.
Compliance Management System
The Phoenix Contact Compliance Management System comprises measures that ensure compliance with laws, guidelines, and our Code of Conduct within the Group. These include prevention, detection, and response measures. Examples of these include internal directives, employee awareness training, and providing advice regarding real-life issues. The measures also include making different contact persons and reporting channels available, and also investigating compliance incidents.
Our whistleblower system gives both our employees and third parties the opportunity to report information about possible violations of the law and internal regulations.
The whistleblower system also serves as a complaints procedure in accordance with Sections 8 and 9 para 1 of the German Supply Chain Act (“Lieferkettensorgfaltspflichtengesetz”).