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Code of conduct

As of 19 October 2020


1.1 Our Code of Conduct

At NORBIT, we shall conduct our business with integrity and transparency, respecting the laws and cultures of the individuals in the countries where we operate. We shall promote high ethical standards in our daily work, and we expect all NORBIT employees and those working on behalf of NORBIT to act in accordance with our core values and the principles and requirements set out in this document.

The Code of Conduct is NORBIT’s key governing document. It sets out important principles and our expectations, commitments and requirements for ethical conduct in our business. The Code of Conduct includes our values, ethical guidelines and important requirements, as well as providing references to other useful resources.

NORBIT aims to continuously improve the policies and practices that supports this Code of Conduct. The Code of Conduct has been approved by the Board of Directors of NORBIT and will be evaluated on an annual basis.

1.2 Our purpose and values

In NORBIT we have defined our core purpose as
“Explore More”
and our vision to be:
“To be recognised as world class, enabling people to explore more.”

This is our purpose, and the answer to why we are here for customers, society and employees. The purpose sets the direction for our choices and priorities. It inspires innovation and drives change. Everything we do must be in line with our purpose, which is reflected in all the group’s activities. From exploring customers’ needs and commercial opportunities where NORBIT can bring new tailored technology, to always exploring how to improve performance in all aspects.

Our values describe how we will deliver our purpose and what we expect from each other and what customers, our owners and society in general can expect from us. Our values are, deeply rooted in our organisation, securing customer focus and acting as important guidelines in our daily work.

NORBIT has formulated the following core values to form a guideline for the company’s business operations:


NORBIT’s Code of Conduct highlights important standards that are consistent with NORBIT’s values and which we expect all employees, suppliers, business partners and others working on behalf of NORBIT, to observe and strictly adhere to. NORBIT’s Code of Conduct are founded on key UN and International Labour Organization (ILO) conventions and documents. National laws in the country the supplier or business partner operates shall be respected.

1.3 Who does the Code of Conduct apply to?

The Code of Conduct applies to all employees of NORBIT and those working on behalf of NORBIT, including the Board of Directors and consultants. We also expect all our business partners and suppliers to act in a manner that is consistent with the principles of the Code of Conduct.

1.4 Responsibilities

You have a personal responsibility to comply with the requirements set out in the Code of Conduct, applicable laws and other regulations relevant to your work. Leaders have an additional responsibility in supporting and promoting compliance with the Code of Conduct and related policies, standards and procedures. As a leader you must ensure that activities within your area of responsibility are carried out in accordance with the Code of Conduct, other governing documents and applicable laws.

1.5 Consequences of breaches

NORBIT does not tolerate any breaches of the Code of Conduct. If there is any suspected misconduct, an investigation may be initiated internally or be carried out by external advisors. Failure to comply with the Code of Conduct may lead to disciplinary consequences, up to, and including, dismissal or termination.


NORBIT is a member of UN Global Compact, the world’s largest sustainability initiative. Through its membership, the group confirms that it supports the Ten Principles of the UN Global Compact on human rights, labour, environment and anti-corruption.

NORBIT is committed to making the UN Global Compact and its principles part of the group strategy, culture and day-to-day operations of the group, and to engage in collaborative projects advancing the broader development goals of the UN.


NORBIT aims to create value for customers, shareholders, employees and the society at large; first and foremost, by producing a variety of specialised products and solutions that support the customers’ sustainability strategies.

NORBIT will develop goals and strategies to ensure that its corporate responsibility is integrated in the group’s business strategies, operations and stakeholder relations.

“Doing more with less” is the company’s environmental tag. NORBIT is subject to several directives and standards in order to reduce the impact on the environment.


All employees and representatives of NORBIT shall behave with respect and integrity towards business relations and partners, customers and colleagues. The executive management team has a particular responsibility to promote openness, loyalty and respect.


“Safe under pressure” is one of NORBIT’s core values. A safe, secure and healthy working environment is a key priority in the group, and this applies wherever we are. We work continuously to improve our performance towards our vision of zero injuries.

NORBIT supports and respects internationally proclaimed human rights. The group shall have no

form of human rights abuse in any stage related to production of its products.


In NORBIT we shall work to promote a working environment characterised by equality, diversity and mutual respect. We will demonstrate that people with different qualities can work together to bring out the best for NORBIT and its customers. We acknowledge and respect that all people are unique.

NORBIT does not accept any form of discrimination on the basis of factors such as gender, age, ethnicity, religion, disability, sexual orientation or political conviction, nor does NORBIT accept harassment, including unwanted sexual attention.


NORBIT’s organisational culture shall be characterised by openness and good internal communication so that any misconduct or problems can be addressed, discussed, and resolved in a timely manner. NORBIT’s employees are encouraged to report any incident of discrimination to their nearest leader. Retaliation against any employee who has reported misconduct, is prohibited.

We support and respect internationally recognised labor rights. NORBIT employees shall have the right to join or form trade unions of their own choosing and to bargain collectively. The employer shall not interfere with, obstruct, the formation of unions or collective bargaining. Workers representatives shall not be discriminated and shall have access to carry out their representative functions in the workplace. Where the right to freedom of association and/or collective bargaining is restricted under law, the employer shall facilitate, and not hinder, the development of alternative forms of independent and free workers representation and negotiations.


In order to make the right decisions and create a good working environment, the internal communication in NORBIT must be open, honest and unambiguous. The same applies to external communication, which is important for people’s trust in NORBIT.

Both internal and external communication shall be timely and correct. All external communication regarding press releases, financial information etc. shall be made in collaboration with NORBIT’s Group CEO or CFO, or anyone appointed by the CEO or CFO. Only designated persons shall make statements to the media on behalf of NORBIT.


Employees or representatives of the NORBIT possessing confidential information related to the company shall conduct themselves and safeguard such information with great care and loyalty and comply with any and all signed confidentiality statements.

All employees have a duty of confidentiality in relation to customers, prospective customers, other employees, NORBIT and other companies’ activities. This duty applies not only externally, but also in relation to other employees who do not have a work-related need for the information. The duty of confidentiality applies regardless of source and the circumstances under which we have received the information. Employees are bound by the duty of confidentiality even after the employment relationship with NORBIT has been terminated.

As an employee, you may get access to information which is not publicly available, and which can affect the price of the NORBIT share or any other financial instruments. Such information may be inside information which shall be processed in a correct and legal manner.


Corruption in any form is strictly illegal and NORBIT has zero tolerance for any form of corruption, bribery, fraud or dishonesty. This means that we have no tolerance for paying, facilitating or receiving any bribes or facilitation, payments, extortion, kickbacks or any other improper private or professional benefits to customers, agents, contractors, suppliers or employees of any such party or government officials. We conduct our business honestly, fairly and transparently.

This means that NORBIT’s employees and representatives shall neither directly nor indirectly offer, promise, request, demand or accept illegal or unjust gifts of money or any other remuneration in order to achieve a commercial benefit.

NORBIT supports fair and open competition. The company’s employees and representatives shall

never take part in any activities that may constitute a breach of competition legislation.


A conflict of interest occurs when personal interests, participation in external activities or business interests can affect decisions that employees make on behalf of NORBIT. Employees or representatives shall avoid situations in which a conflict between their own personal and/or financial interests and the company’s interests may occur.


NORBIT encourage its employees to report suspected or actual occurrence(s) of inappropriate, unethical or illegal events. The whistleblower shall not receive any form of retaliation or retribution for a report that was provided in good faith – that was not done primarily with malice to damage another or the organisation. NORBIT has drawn specific guidelines for whistleblowing, including whom to report to, how to report and how the company is required to act on the report.