Sustainability Governance and Ethics
Delivering sustainable value for all our stakeholders
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Ethical Business
By operating in accordance with our Group’s Values and Policies, as well as adhering to all local laws and regulations, we establish and maintain a culture of ethical behaviour throughout our global operations. We provide training and support to help keep our colleagues, as well as our wider Group, protected from instances of fraud and cyber-related crime.
We encourage colleagues to be vigilant and proactive and to report any concerns they have. Our Group whistle-blowing platform, SafeCall is available in every country where we work for colleagues to quickly and confidentially report any concerns they might have.
Alignment with SDGs
Guiding our organisation
To demonstrate and promote high standards of ethical business behaviour we guide colleagues to know and follow our Code of Conduct with pride.
Always doing the right thing is at the heart of our culture and underpinned by our Values of Integrity and Respect.
Our comprehensive Code of Conduct and supporting policies, including Whistle-blowing, Anti-Bribery and Corruption, Group Sanctions and Human Rights policies, set standards for ensuring that our business activities are conducted in a responsible manner for the benefit of our shareholders, customers, colleagues and suppliers.
Our Whistle-blowing Policy together with Safecall, our secure whistle-blowing facility, guides colleagues on how to make reports if they suspect anything inappropriate or experience any misconduct or wrongdoing in our business. The facility, hosted by Safecall, an independent provider, enables colleagues to report concerns via a web portal or by telephone, anonymously if preferred.
Our independent whistle-blowing facility is managed by the Group General Counsel and is advertised at all operating sites. Spirax Group does not tolerate retaliation against anyone who raises a concern in good faith, even if that concern is not substantiated.
All reports are taken seriously, evaluated and investigated appropriately . Concerns are investigated by the Group General Counsel or another senior manager as appropriate. The Board also receives reports from the Group General Counsel if any concerns have been raised via the Policy.
Spirax Group has zero tolerance to any form of bribery and corruption, both within our Group and in any dealings with our customers, suppliers and other third parties. We will not enter into contractual relationships with third parties who are known to engage in corrupt practices and we will not be involved in giving or receiving bribes or favours.
Our Anti-Bribery and Corruption Policy is explained to colleagues through our ABC training module. The training is issued to colleagues via our Group Essentials training programme and is available in 16 key languages.
In line with our Gifts, Entertainment and Hospitality Policy, we also maintain an online gift register, where colleagues are expected to record gifts, to ensure our conduct is in keeping with the highest ethical expectations and always within the law.
View our Anti-Bribery and Corruption Policy and our Gifts, Entertainment and Hospitality Policy.
Spirax Group complies with all economic sanctions, laws, regulations, embargoes or restrictive measures which is communicated to all colleagues via our Sanctions Policy. We also operate a screening process for our counterparties.
Our organisation is committed to maintaining effective policies and procedures to ensure that no individual within our organisation or supply chain is at risk of exploitation. The Group applies a multi-faceted approach to raising awareness of modern slavery and human trafficking and takes concrete actions to prevent and identify potential instances. In recent years, we have invested significant resources and have continued to build teams to put tools in place to ensure stakeholders in Spirax Group’s supply chain are protected from any form of modern slavery.
The Group’s Modern Slavery Statement reflects the Group’s Values and the interplay between those Values and our commitment to the mission behind the UK Modern Slavery Act. It explains how we operate to the highest ethical standards across our global Businesses.
Sustainability Governance
As Sustainability is a Growth Enabler within our Together for Growth Strategy, One Planet is overseen by one Executive Committee Sponsor, the Group HR Director and one Business Executive Committee Sponsor, with the overall strategy under the sponsorship of the Group Chief Executive Officer (Group CEO). This streamlined approach ensures focused leadership and accountability for our sustainability efforts.
The Group Sustainability Management Committee (GSMC) oversees the implementation of One Planet and ensures alignment with our sustainability goals. The members of the GSMC meet regularly to review strategic progress and materiality, review annual improvement priorities and review and refresh our focus areas going forward.
Progress against targets is formally reported to the Group Executive Committee (GEC)and the Board of Directors maintain strategic oversight. Supporting customers on their decarbonisation journey is a significant element of both our STS and ETS Business strategies and is a Growth Driver within the Together for Growth Strategy. The Board plays a critical role in providing strategic oversight and formally approving the Company strategy and Business-specific implementation plans, with a focus on integrating climate-related considerations into long-term planning.
This includes ensuring that robust governance frameworks are in place to identify, assess and manage potential market-based risks and opportunities arising from climate change. Through regular review and engagement with management, the Board helps ensure that the Company remains resilient, adaptable and aligned with evolving regulatory expectations and stakeholder demands in a transitioning global economy.
Materiality Assessment
Our materiality assessments play a central role in shaping the One Planet Roadmap, ensuring that our sustainability priorities are firmly anchored in the issues that matter most from both a financial and an impact perspective. By assessing the significance of sustainability topics to our stakeholders alongside their potential financial effects and impact on enterprise value, we have identified where focused action can best protect and enhance business performance, resilience and growth.
This approach enables us to concentrate resources in the areas with the greatest potential to influence revenue generation, risk, opportunity and cost efficiency while delivering meaningful outcomes for people, communities and the environment.
Stakeholder Engagement
We undertook extensive stakeholder engagement as part of our double materiality assessment in 2023. Insights from customers, colleagues, investors, suppliers and communities help us to streamline our focus, pivot where expectations and external conditions change, and strengthen the link between sustainability performance and long‑term shareholder value.
As a result, the One Planet Roadmap is a forward‑looking framework that aligns material sustainability priorities with our strategy and ensures we continue to balance financial discipline with delivering positive, measurable impact across our value chain. We will continue to undertake materiality assessments on a regular basis to inform how we refine and evolve One Planet over time.
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Sustainability
Embedding Sustainable Operations
Engaging People and Communities
