Terma recognizes that its’ social, financial, and environmental impact is highly linked to its supply chain and business partners, and we therefore hold our suppliers, business partners, and other stakeholders to the same standards as we hold ourselves.
|Why this matters to society
||Why this matters to Terma
|Just like Terma’s own, the CSR performance of the companies in our supply chain has an impact on the societies in which they operate.
||Our engagement towards CSR also means being a responsible supply chain partner and engaging with our suppliers on CSR challenges. This has the potential to generate a closer relationship with suppliers and raising the bar for responsible business conduct.
Integrating social responsibility in the supply chain
Responsible Supply Chain Management is one of the 6 focus areas of Terma’s new 3-year CSR strategy Allies in Responsibility. To learn more about our aim, targets and activities within Responsible Supply Chain Management, read our booklet.
Being a responsible company means engaging where possible in our sphere of influence to ensure that our partners adhere to the same principles as we do. It is about raising awareness, clarifying the requirements and standards. It is evidently working with our supply chain towards reducing the environmental, ethical, and social impacts and risks.
Terma’s Supply Chain Management department is responsible for the establishment of all new supplier relationships and oversight of the supplier base. Terma assures itself that proper procedures regarding the onboarding of suppliers are followed through clearly stated means, such as an audit, at least every three years.
Terma’s Code of Conduct for Suppliers and Service Providers describes the requirements that we have towards our suppliers, business partners and other third parties such as for instance marketing consultants, with whom we do business with. We expect all our business partners to behave in respect of this commitment in a joint effort towards continuous progress, sustainable development, and improved ethical business practices. Our suppliers are required to cascade these principles throughout their own organization and supply chain; and are encouraged to implement and adhere to their own similar codes of conduct.
Terma in numbers
- 1,500 employees
- Terma operates in 16 locations in 9 countries on 3 continents
- Suppliers in 49 countries
- Nearly 97 % of our 1st tier supplier base is located in OECD countries
- 2 production facilities in Denmark