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Human Rights and Labor Practices

Sampo Group’s Code of Conduct outlines the group-level guiding principles regarding human rights and labor practices. According to the Code of Conduct, Sampo Group is committed to ensuring compliance with applicable human rights, labor, and employment legislation. Sampo Group operates in each of its operating countries in accordance with local legislation and respects the lawful rights of its employees. In addition to national laws and regulations, Sampo Group respects the Universal Declaration of Human Rights, the Core Conventions of the International Labour Organization (ILO), the OECD Guidelines for Multinational Enterprises, and the UN Global Compact. The Group is dedicated to ensuring that internationally accepted human rights are never infringed in its operations.

Sampo Group does not tolerate any kind of discrimination, bullying, or harassment. At Sampo Group, all employees are treated fairly and equally, regardless of age, disability, ethnic origin, gender, political attitude or workers’ representative activities, religion, or sexual orientation. Discriminatory practices regarding recruitment, promotion, remuneration, or general conduct in the workplace are not tolerated. Sampo Group strongly condemns all forms of forced and compulsory labor, as well as child labor, and is committed to the effective abolition of such practices.

All employees of the Group companies have a written contract of employment with agreed terms and conditions, including notice periods on both sides. All employees are entitled to fair compensation, working hours, facilities, holiday leave, and maternity, paternity, and parental leave, in accordance with the legislation of the country where they work.

Sampo Group companies operate in the Nordic and Baltic countries, where freedom of association is generally respected and even protected by law. Workers have the right to organize, bargain collectively, and strike. In addition, the Group’s Code of Conduct ensures that Sampo Group employees are free to join organizations of their choice that represent them, consistent with local organizing laws. These organizations may, if recognized as an appropriate agent, engage in collective bargaining according to the applicable legal regulations. Sampo Group does not collect data on how many of the Group’s employees belong to trade unions. However, it can be stated that, in general, the level of organizing is high in the Nordic countries compared to the rest of the world. For example, in Denmark, Finland, and Sweden, trade unions are strong and well organized, with over 70 per cent of the whole workforce belonging to trade unions.

Sampo Group companies acknowledge that the risk of possible direct human rights violations is relatively low in their operations. In Sampo Group’s own operations, the human rights issues identified to be most relevant are discrimination and equal opportunities. Information on equal opportunities and non-discrimination is available in the Diversity and Equality section.

At Sampo Group, the risk of indirect human rights violations mainly arises from external factors, such as customers, investments, and suppliers. In terms of customers, data breaches and misuse of customer information may result in human rights violations, particularly if sensitive personal information is disclosed. Sampo Group companies have stringent policies and processes to ensure that all collected data is protected through security measures and adequate employee training. More information is available in the sections Data Privacy and Information Security and Cybersecurity. Regarding investments, Sampo Group companies have started to screen investments against international norms and standards, including those related to human rights. More on investments can be found in the section Responsible Investment Management ja Operations. Sampo Group companies are also committed to encouraging business partners and third parties to respect and comply with human rights. This shows, for example, in the Sampo Group Code of Conduct, which suppliers and other business partners are encouraged to adopt. Further, the Group companies have more specific policies on these matters for their own suppliers.

Reported Human Rights Violations, Sampo Group 2019
Number of incidents reported through internal reporting channels 0

Further information can be found in the Corporate Responsibility Report (page 41).

Updated 7 May 2020