Ramco Statement of Sustainability
As a supplier of fasteners to the international automotive industry, Ramco has a responsibility to operate its business in a long-term and sustainable manner. The company will be an effective, reliable, and stable partner for customers and suppliers, deliver value to owners, and be a secure employer for its employees. Ramco supports the Ten Principles on respect for human rights, working conditions, environmental responsibility and anti-corruption embodied in the United Nations Global Compact. Annually an overall risk analysis will be performed during which sustainability risks and environmental aspects are identified and analyzed. Special emphasis is given to consideration for the environment throughout the entire chain of value, and the company has therefore assessed products and processes with regard to conflict minerals and REACH, among other key areas. Ramco also works to influence external flows of goods in a positive direction. Ramco works to improve continuously and to continue to develop sustainability.
The code of conduct was adopted with the purpose of formulating fundamental principles that underpin the company’s relations with stakeholders.
Follow-up and reporting
Ramco’s integrated management system for quality, the environment, and working environment describes the company’s way of working, from policies and guidelines to procedures and work instructions. The management process provides a systematic approach to strategy, objectives, and ongoing target monitoring. The reporting of sustainability information is done through the company’s various management systems. We are certified to IATF 16949 and ISO 14001.
Minimization of sustainability risks in the flow of goods
Ramco takes responsibility wherever it can exert influence with respect to the environment and working environment throughout the value chain. A supplier must confirm that it meets and complies with the company’s code of conduct and anticorruption policies or equivalent, and that furthermore it is certified according to IATF 16949 and ISO 14001. Further requirements must be also met, such as maintaining a policy regarding conflict minerals where applicable.
There is an established working method to follow up and audit main suppliers, which together account for between 90-95% of the total purchasing volume. All suppliers to Ramco have to undergo an evaluation based on parameters that include the code of conduct, environmental considerations and safety. If the decision is made to do business with a supplier after this evaluation is carried out, an audit is performed on site. This audit covers the management system, financial status, procurement and supply chain processes, and supplier monitoring. Regular evaluations are made of established suppliers, and Ramco has dedicated employees who work with, and develop, quality assurance.
The company’s main environmental impact consists of energy use and emissions to air and water. Our well-functioning environmental management system, ISO 14001, and its dedicated employees are audited partly by external environmental auditors and by customers.
Ramco estimates that about 50% of purchased raw materials come from scrap-based steel mills, which reduces the need for primary raw materials and thus also minimizes energy use and emissions. Through the safe and correct handling of hazardous waste, the company contributes even further to reduced environmental impact.
Ramco aims to use renewable electricity and heat as much as possible and thus reduce energy consumption and emissions. Ramco does this through efficient logistics and energy-efficient production.
Ramco’s environmental work aims to ensure that the company’s own production is carried out with as little environmental impact as practicable while being economically viable. The company conducts operations that require official permits and all production units have the necessary permits. These are monitored continuously and the environmental aspects measured at each site and reported externally according to official request while also being monitored internally to build up information and data for follow-up. Energy surveys are carried out locally, and outcomes are monitored and reported. Ramco is not covered by programs for emission allowances and does not work with compensation for emissions.
Reduced environmental impact
Proactive environmental work is carried out at all units and the company’s focus on reducing its negative environmental impact has produced good results.
The company has noted improvements following investment in energy-efficient production equipment. Work is continuing to further develop expertise in energy consumption to support future investments.
Reduced weight contributes to lower carbon emissions
Ramco offers optimized application solutions that can reduce fuel consumption in vehicles, which in turn contributes to lower carbon emissions. Ramco works to help customers reduce the number of fasteners per vehicle and thus achieve weight reduction through the development of alternative solutions.
Sustainable product development
Ramco is involved in electric vehicle projects with various automotive manufacturers and is helping to drive development in terms of shape and material for fasteners to create optimal conditions for the new technology. The company has positioned itself with technology for electric cars and hybrids, and during the year developed cooperation with one of the world’s largest electric car manufacturers.
Ramco Specialties will exceed customer expectations for quality, delivery and service by meeting its set quality objectives and performing on-going and successful implementation of continuous improvement activities.
Ramco Specialties will maintain its environmental system, regularly review the established targets and identify and implement improvement opportunities.
Ramco Specialties’ quality and environmental objectives are to:
- Provide 100% customer satisfaction
- Ship zero defects
- Provide 100% on time delivery
- Continually improve
- Comply with all legal, regulatory, and other requirements
- Prevent pollution
- Continuously measure and follow environmental work and objectives and provide internal as well as external parties with pertinent and impartial information.
We support the UN Global Compact’s ten principles and the company’s code of conduct guides the company in this work. Ramco also requires its subcontractors to choose whether to adhere to our code of conduct or if they have their own equivalent. The focus ahead will be to improve the monitoring of the value chain with regard to human rights and to train employees on sustainability issues.
Ramco strives to be an attractive employer with a good working environment where involvement and participation are the basis for the continuous development of the company and its employees. The company’s overall goal for environmental work is to achieve a long-term effective and sustainable business that safeguards good physical and mental health, offers job satisfaction for all employees and prevents accidents happening. Incidents are monitored and accidents that lead to absences are reported as part of the systematic work environment.
Continuous training and skills development are a priority. A key value for the company is that all individuals are equal and must be treated as equal. It is therefore important that everyone feels responsible for combating discrimination and promoting greater gender equality.
Code of Conduct
The scope of the Code and the individual’s responsibility
This Code of Conduct has been adopted with the aim of expressing the fundamental principles that form the basis for Ramco’s relations with stakeholders. All personnel shall be aware of and follow the Code of Conduct.
Ramco also urges its suppliers, consultants and other business partners to apply the principles.
Ramco will not accept any discrimination or reprisal against employees who report a suspected infringement in good faith.
Our business principles
Business acumen is a key concept for Ramco’s operation. For us business acumen entails, for example, that we take responsibility for our operation, are receptive to our stakeholders’ needs and that we actively take a stand, and evaluate and analyze ourselves, the operation, and our business partners.
Ramco or its personnel shall not offer or receive from business partners or other stakeholders any payment or other benefit that infringes upon prevailing legislation or good practice. It is the duty of each employee to act in such a way that trust cannot be put into question.
In our operation we shall always comply with the prevailing legislation, rules, and regulations in each country where we operate. In the event that this Code of Conduct contravenes compulsory legislation, regulations, or other rules, they shall take precedence over this Code of Conduct. If there is no regulation, the principles in this Code of Conduct shall serve as guidance.
Communication and financial reporting
It is essential that Ramco is characterized by an open, helpful attitude to all its stakeholders. Objectivity, professionalism, and service shall distinguish the way we treat Ramco’s stakeholders. Disclosure of information shall be in accordance with the applicable legislation, rules and regulations, and the company’s communication shall be long-term and shall comply with the company’s vision, business concept, strategies, goals, and values. There shall be appropriate internal control functions and processes for ensuring compliance with applicable legislation, regulations, and other rules.
Handling conflicts of interest
A fundamental principle for Ramco is that in the event of a conflict of interest in relation to an employee, a related party, an existing or a potential business partner or any other stakeholder, it should primarily be resolved through a mutual agreement based on the principles of good ethics, business acumen, loyalty, and trust.
Ramco works in a goal-oriented way to develop processes in a sustainable direction. Active environmental work reflects the corporate social responsibility we have for ensuring our own production is conducted with the lowest environmental impact that is practically feasible and financially viable. Moreover, personnel shall be well aware that they are an important element in preventive efforts and in the day-to-day environmental work.
Ramco shall always follow prevailing environmental legislation and take into account its stakeholders’ environmental requirements.
Good working conditions and human rights
Each employee of Ramco is expected to actively help create a safe, secure, efficient and quality-conscious workplace characterized by a pleasant, open working climate. Employees of Ramco shall have equal rights, obligations and opportunities in terms of employment and working conditions, training, education and development regardless of gender, social or ethnic origin, religion, age, disability, sexual orientation, nationality, political views or trade union affiliation.
Ramco disassociates itself from child labor and work carried out under duress or threat of violence, and supports and respects the protection of internationally asserted human rights.
Ramco strives to be an attractive workplace with a good working climate and work environment, where commitment and participation lay the foundation for developing the Group and all its personnel.
Statement on Modern Slavery
Ramco is committed to ensuring that there is no modern slavery or human trafficking in our supply chain or in any other part of our business.
Policy – Conflict Minerals
“Conflict minerals” originating from the Democratic Republic of the Congo (DRC) are sometimes mined and sold under the control of armed groups to finance conflict characterized by extreme levels of violence.
In August 2012, the United States Securities and Exchange Commission (“SEC”) issued its final rules regarding “Conflict Minerals” known as ‘3TG’ as defined in and required by section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”).
The concerned minerals are:
• Coltan (columbite tantalite) and its derivatives (Tantalum)
• Cassiterite and its derivatives (Tin)
• Wolframite and its derivatives (Tungsten)
Ramco strives to be a good corporate citizen. We are committed to ensuring the health, safety and protection of people who come into contact with our products and business, we require high social, environmental and human rights standards among our suppliers and we support efforts by our customers to reach our common objectives to build up a socially and responsible supply chain.
Ramco is committed to the responsible sourcing of “conflict minerals” throughout our supply chain and continuing to comply with the underlying SEC rules and regulations surrounding “conflict minerals” to enable all Ramco products as “Conflict Free”.