Code of Conduct

It means that we take care of the safety and well-being of our people, our suppliers and our partners. It means that we follow laws, regulations and good business practices. And it means that we always consider the environmental impacts of our operations as well. In essence, we want to preserve and further build the positive reputation of the name Ramirent. 

Code of Conduct details Ramirent’s way of operating in a responsible and prudent manner with all its stakeholders. This needs to be the foundation of our company and its operations. 

Let’s be proud of how we conduct business – always doing things in the right way, not taking risks which can tarnish our company’s reputation. And let’s do it smoothly and a smile on our faces. 

Whenever in doubt, ask yourself: 

Is it consistent with Ramirent’s Code of Conduct and Policies? 

Is it legal? 

Is it ethical? 

Would I want to read about it on “Morning News”? 

If the answer is “No”, then simply don’t do it! 

10 key principles of conduct: 

1.    Complying with laws and rules Following the laws as well as internal and external rules, both in letter and spirit, is the foundation of Ramirent’s business conduct. We should know enough to determine:  – The difference between what is allowed and what is not allowed, and always act in a lawful and ethical manner; – When to seek for advice. The moment we find ourselves in doubt, we always seek for advice.  

2.    Competing fairly and complying with anti-trust and competition laws We always comply with competition laws to protect and promote effective competition. 

Do’s:  – Seek competitive advantage only through superior performance. – Respect our customers, suppliers and competitors rights to fair business. – Oppose unethical or illegal practices, such as collaboration that hinders free competition: agreeing prices, market or customer allocation with competitors. – All competitor contacts must have a clear and lawful purpose. Any contracts with competitors as well as participation in trade and professional associations must follow Ramirent’s internal rules. – Avoid all unnecessary contact with competitors. If a competitor initiates a discussion on a sensitive topic, refuse immediately.

Don’ts: – Do not abuse our market position, especially if it is dominant. – Don’t discuss sensitive information.  

3.    Zero tolerance for corruption, bribery and money laundering  We do not accept corruption, bribery or money-laundering to avoid influencing business decisions or gaining business advantage unlawfully. We follow the laws and internal rules.   

Do’s: – Know your customers and business partners. Obtain and maintain relevant and updated information about them by conducting due diligence, background and credit checks and screening against applicable sanctions lists.  – Always think first, if someone offers you anything of value, before accepting it. If you doubt whether it is lawful or not, it is already a risk, and you should not proceed. Instead, seek for advice. – Anything of value may be a payment, loan, discount, political or charitable contribution, reimbursement, gift, gift card, meal, entertainment, employment or internship, business opportunity, service or other benefit.  – Only normal standards of hospitality are accepted as well as given. These vary between countries according to local laws, tax authorities’ guidelines, and business practices, and are subject to local internal rules. 

Don’ts: – Do not offer nor accept any payments or cash personally.  – Do not offer nor accept personal benefits that could affect objectivity in decision-making.

4.    Avoiding conflicts of private and professional interest Conflict of interest is a conflict between the private interests and the official responsibilities of a person in a position of trust, and such conflicts must be avoided. 

Do’s: – If you suspect a conflict of interest, seek advice from your manager or other appropriate personnel. – Get a written approval from a relevant superior before any engagement, for example for side jobs or engagement in entrepreneurship. – Non-competitive side jobs are allowed only if they do not damage the employee´s ability to perform their work with full potential. – We give equal opportunities to customers, suppliers and candidates for open positions.

Don’ts:  – Don’t engage in activities competing with Ramirent’s business or ones that could damage confidence in Ramirent’s employees or organization. – Avoid making purchase decisions (or sales contracts) with a company owned or controlled by you, your spouse, relative or a close friend. – Avoid making purchase decisions (or sales contracts) with a company where your spouse or close friend is employed in a decision-making position.

5.    Protecting Ramirent’s assets and information In our daily work we are entrusted with Ramirent’s and our business partners’ assets and confidential information as well as personal information and shall handle it with due care. Unauthorized use of such information is illegal and may result in civil or criminal penalties. 

Do’s:  – If you have any confidential or personal information, only use it as authorized for Ramirent’s benefit and objectives following relevant laws and internal rules and take appropriate safeguarding measures.  – When having access to non-public information, for example inside information that may affect share price and trading, carefully follow Ramirent’s Disclosure Policy. – Keep business information confidential, for example: prices, volumes, terms of delivery and other contract and tender information, product development and designs, intellectual property, trade secrets, trademarks, copyrights, business plans, databases, records, clients, candidates, unpublished financial data and reports. – Keep personal information confidential, for example: employment contracts, salary information, personal identification numbers. – Ensure that records concerning customers and partners are kept in compliance with the GDPR directive. – Prevent theft, carelessness and minimize waste.  – Keep passwords, keys, phones to yourself. – Record all rentals, also employee rentals, always in the rental system in a timely manner to ensure availability and avoid loss or damage. – Any suspected fraud or theft should be immediately reported for investigation according to internal rules.  – Always seek advice if you are uncertain about information sharing rules. 

Don’ts:  – Assets and information entrusted to us shall not be used for own gain in conflict with Ramirent’s interests, or in any other fraudulent or inappropriate manner.  – Don’t leave Ramirent’s computer unattended in places where unauthorized people could have access to it.

6.    Ensuring financial integrity We record and report business information honestly and accurately in order to have appropriate information available for making responsible business decisions. 

Do’s: – Follow tax and accounting laws and regulations as well as internal rules and seek advice from finance. – Always refuse requests to rewrite invoices. – Report only the true and actual number of hours worked. – Record all expenses according to internal rules and seek for guidance if needed. – Incur expenses in line with decision making rules and budget, and for the benefit of Ramirent.

7.    Respecting people and human rights by ensuring equality, well-being and safety In our daily behavior we respect human rights such as: freedom of thought, opinion, expression, religion and right to assemble peacefully, as well as freedom from any discrimination based on race, age, nationality, gender or sexual orientation. These core principles of the United Nations Global Compact and International Labor Organization are the basis for Ramirent’s business conduct as well as other internal rules and practices.  We promote a workplace where we approach each other with a smile, service attitude and maintain a safe, healthy and well-managed work environment. 

Do’s: – Treat each other’s opinions equally, provide equal opportunities and promote diversity. – Care for each other’s physical and mental well-being to empower people, prevent accidents and injuries and minimize hazards. – All employees have the responsibility for maintaining a safe and healthy workplace, follow safety and health rules and practices and report accidents, injuries and unsafe equipment, practices or conditions.  – Develop and maintain systems and best practices to detect and act on potential occupational threats to well-being and safety. – Take care of your personal and professional development and contribute to this continuously. – Continuously follow up job satisfaction and participation to ensure a sound and motivating work environment.   – Ensure an understanding of human rights and prevention of abuses.  – Have a sober workplace where limited amount of wine or beer may only be served when customary for special events and under appointed supervision.  – Contribute to freedom of association and collective bargaining.

Don’ts:  – Do not tolerate discrimination, harassment or violence and immediately notify this behavior according to local rules, the Code of Conduct or Speak Up Line. Local internal guidelines are given according to local laws.  – Use of hard liquor is not permitted. – Working in Ramirent is not allowed under influence of alcohol or illegal drugs. 

8.    Responsible sourcing Ramirent is committed to responsible sourcing practices and expects its suppliers to comply with applicable laws and share the principles outlined in the Code of Conduct. 

Do’s:  – Consider whether you have sufficient information on the supplier. Background check suppliers for origin of raw materials, fair working conditions, and use of child and forced labor, obtain signed confirmation and maintain it as part of the contract. – Communicate clearly Ramirent’s requirements to suppliers.  – Select suppliers only based on pre-defined criteria.  – Avoid or immediately discontinue cooperation with a supplier who exploits child or forced labor. – Always look after Ramirent’s best interests when selecting and operating with suppliers. – Assess suppliers systematically and regularly from an economic, social, and environmental perspective. 

Don’ts: – Don’t make any fixed commitments, if you have any concerns of suppliers’ ethical behavior.

9.    Contribution to society to promote common good We participate in the development of our local communities with transparency and integrity of our actions and comply fully with laws and internal rules. 

Do’s: – We support primarily programs and events related to sports, culture and environmental protection to add value to Ramirent’s people, objectives and initiatives. – For example, the initiatives can be related to sustainability, digitalization, safety, equipment and machinery, construction industry or student activities. – All sponsorship projects must be based on written contracts approved according to decision making policy.

Don’ts:  – No sponsoring is allowed for political activity, violence, religious groups, alcohol or drugs. – Sponsoring offered by Ramirent has to share Ramirent values and be in compliance with Ramirent strategy.

10.    Taking care of the environment Ramirent’s core business objective is to promote renting instead of owning. Sharing the equipment decreases the environmental footprint of the industry. The environment is also considered throughout our operations through precautionary measures.

Do’s:  – Understand and follow with due care the processes for work and workplace safety and environmentally friendly handling of chemicals and waste. – Follow the established routines for handling, function testing and maintaining of equipment to minimize environmental impacts. – Avoid unnecessary risks. In case of doubt, consult with your Manager or HSEQ.  – Share our best practices with others; for example, keeping customers informed of environmentally friendly alternatives and procedures, and placing clear environmental requirements on our suppliers. – Follow the processes to prevent environmental accidents on projects. – Ensure that products meet their targeted environmental requirements. – Report on any possible activities that might cause risk to the environment, environmental incidents and accidents as well as near misses.  

Compliance belongs to all We are all committed to follow Ramirent principles of conduct. We continuously communicate about it and follow up compliance to it. 

Ask for advice Ask for advice on laws as well as internal and external rules to make responsible business decisions.  Please contact: – your Manager or HR Manager or compliance@ramirent.com or phone +358 40 570 4002.

Speak up on misconduct If any misconduct is suspected or identified, we raise the concern promptly. By doing so we have the best possibility to deal with the issue. All employees must speak up on any suspected or identified breach of law, this conduct or other internal rules. There are 2 ways to speak up, please contact: – your Manager or HR Manager or the Speak Up Line. The Speak Up Line is an independent, confidential service where issues can be filed online or by phone. 

Consequences of misconduct Misconduct may lead to termination of employment or cooperation with Ramirent.

Non-retaliation policy We ensure non-retaliation and confidence for all who speak up. It means we ensure the identity of the person reporting the issue is kept confidential and protect all who speak up in good faith and cooperate with internal or external investigation or audit.  

Language The Code of Conduct is primarily issued in English. Translations are made into all Ramirent languages. 

Administration The Code of Conduct is approved by the Board of Directors of Ramirent Plc, as are its all revisions.