3.1 Compliance and ethics We also believe that acting on the basis of our Ethical Princi- The Siemens compliance system ples allows us to focus even more on responsible business The goal of compliance at Siemens is to ensure that our practices. We aspire to support the sustainable development worldwide business practices follow the applicable laws and of Siemens and the societies where we operate by adhering comply with the BCGs. Our Compliance organization covers to responsible business practices. the following activity fields: Worldwide commitment to fighting corruption → Anti-corruption In collaboration with other international and national orga- → Anti-money laundering nizations, we are committed to fighting corruption and → Anti-trust promoting fair competition in our markets and beyond. → Data privacy → Human rights This approach is also reflected in our Collective Action → Export control activities, which includes our commitment to: HUMAN RIGHTS CYBERSECURITY AND DATA PRIVACY → The United Nations Global Compact (UNGC) → The World Economic Forum and its Partnering Against To ensure compliance throughout the company, the Siemens Corruption Initiative (PACI) comprehensive compliance system is based on the three → The United Nations Convention Against Corruption and pillars of prevention, detection, and response. the Organization for Economic Cooperation and Develop- ment (OECD)’s Anti-Bribery Convention Preventive measures include compliance risk management, → The implementation of these conventions as part of preparing topic-specific guidelines and procedures, incorpo- Business 20 (B20) rating compliance requirements into business processes, our Collective Action activities, and providing comprehensive The Ten Principles of the UN Global Compact, the OECD training and advice to our people. Guidelines for Multinational Enterprises, and other key guidelines are embedded in our BCGs and provide a founda- In addition, protected channels for reporting compliance tion and direction for all our activities. BUSINESS CONDUCT violations like the “Tell Us” whistle-blower system, the GUIDELINES Ombudsperson, and professional and fair investigations are indispensable for identifying and resolving matters of indi- “We help our customers and vidual misconduct. Our reporting channels also allow our partners around the world drive people to submit reports anonymously. their digital and sustainable We believe that transparent communication and clear conse- transformation. Without excuses or quences help reduce and resolve incidents of individual exceptions, we always act ethically, misconduct. Our internal audit department also continuously legally, and with the highest performs compliance controls and audits to ensure that our integrity.” compliance system is put into action and meets our world- wide requirements. CEO Roland Busch SIEMENS SUSTAINABILITY REPORT 2023 33