Good Corporate Governance Guides Sustainability
The management of Bittium Corporation is governed by the Articles of Association, Finnish law and Bittium´s governance guidelines. Bittium observes the Finnish Corporate Governance Code 2020 prepared by the Finnish Securities Market Association and entered into force on January 1, 2020. Bittium´s Corporate Governance Statement is available at www.bittium.com.
GRC (governance, risk management and compliance) refers to the skills and abilities that enable an organization to meet its targets, address uncertainties and operate with integrity. Bittium´s GRC measures also include the framework for internal control, which begins with our core values and extends all the way to the principles set by our Board of Directors.
Bittium´s Ethical Principles and Code of Conduct
Our ethical principles comprise the following areas of sustainability:
Due to our market areas and business sectors, corruption is a significant risk in the areas of social responsibility and human rights. We do not condone any forms of bribery or corruption in our operations or those of our partners.
We use our internal and external anti-corruption guidelines that were updated in 2017. We provide our employees with training on the subject as part of our employee training program and we expect our partners to comply with the instructions.
We use a monitoring tool for detecting corruption and other ambiguities in the operations of our partners.
We provide our external and internal stakeholders with a channel for reporting violations of anti-corruption rules. There were no cases of corruption reported to Bittium in 2019.
2. Information security and data protection
Bittium´s information security and data protection policies specify the methods employed in the classification, storage and disclosure of information.
3. Fair business, advertising and competition
We follow the rules on fair business, advertising and competition. We have access to different methods of securing our customers´ information in accordance with information security procedures.
4. Corporate citizenship
The company supports community involvement in order to promote social and economic development.
5. Protection of intellectual property rights
We respect intellectual property rights and apply our IPR strategy and guidelines to all of our operations. Sustainable purchasing is also an essential part of our sustainable approach to business. The principles of sustainable purchasing have been described in greater detail in ‘Confidential customer relationships and secure products´.
In 2019, we developed Bittium´s export control system and the related practices from various perspectives, including sustainability. Bittium has always complied with the export control instructions and regulations, for instance, when operating in the defense and information security sectors, where the functionality of the export control system is a precondition for successful cooperation with the authorities as well as the customers.
Alongside the development of our export control system, trained dozens of employees from the sales, marketing, product management and logistics functions on the principles of export control.