1. Background

Swedish Export Credit Corporation (SEK) is a state-owned company and sets high standards for sustainable business, quality, integrity and ethics.

SEK applies the ten principles of the UN Global Compact, which includes standards governing anti-corruption, human rights, labor and the environment.

This Code of Conduct for suppliers (the “Code”) outlines our expectations for all our suppliers, including any approved subcontractors used by our suppliers.

Suppliers must comply with all applicable laws, regulations and standards in the countries in which they operate. SEK expects suppliers to maintain high ethical standards in their business practices in general and to comply with and adhere to the principles set out in this Code.

2. Ethics

SEK expects its suppliers to promote a culture of high standards of ethics, integrity and openness. SEK has established a “Speak Up” channel to report actual, planned or potential misconduct on the part of SEK employees, suppliers or subcontractors. Suppliers can report relevant cases in strict confidence by using the web-based channel on www.sek.se.

3. Anti-corruption

SEK expects its suppliers to strictly prohibit bribery, corruption, extortion or embezzlement in any form. In all of its operations and activities, the supplier must refrain from bribery or any other unfair influence that leads to business advantages.

The supplier must avoid interaction with any SEK employee that might, or appears to, conflict with the employee acting in the best interests of SEK. The supplier should not offer any improper advantage to an SEK employee or their family members in order to gain business.

SEK has a policy prohibiting the receipt of gifts from suppliers.

4. Human rights

The supplier is expected to support and respect the UN Guiding Principles on Business and Human Rights. This means that the supplier should identify, prevent and manage human rights risks as appropriate in relation to the size, nature and context of its operations.

5. Labor standards

SEK expects suppliers to ensure that their employees are offered a safe and healthy working environment and provide their employees with the protective equipment and training necessary to perform their tasks safely.

The supplier should provide a workplace free of harassment or discrimination on the basis of age, gender, language, religion, political or other opinion, ethnic origin, nationality, union affiliation, sexual orientation, family responsibilities and disability.

All employment should be voluntary and the supplier must not use forced labor. Forced labor is defined as any type of work or service demanded from the supplier under the threat of any sort of punishment. The supplier must not engage in, or benefit from, the use of child labor.

The right of employees to freedom of association and collective bargaining must be respected and promoted by the supplier. Employees must receive salaries, vacation and other possible employment benefits, and have reasonable working hours, at least in accordance with the fundamental conventions of the International Labor Organization (ILO) (https://www.ilo.org).

6. Environment

SEK expects its suppliers to strive to minimize the adverse environmental impact of their activities, products and services through a proactive approach and responsible management of their environmental aspects.

The supplier must comply with all applicable legal requirements, standards, agreements and guidelines regarding the environment.

SEK expects its suppliers to promote the development and distribution of environmentally friendly technologies.

7. Compliance and monitoring

The supplier is expected, on request, to provide SEK with the information SEK requires to assess the supplier’s adherence to the Code.

The supplier is required to report to SEK (compliance@sek.se) any incident, behavior or other circumstance that is or may be regarded to constitute material non-compliance by the supplier with the principles of this Code.