Integrity Committed to the highest standards of business integrity

Target: Applying a Code of Conduct-based approach to projects and counterparties

ABB’s integrity program forms part of the backbone of our company. We are committed to continuously enhancing our integrity program and our company culture. Over the past year, we invested in new measures to strengthen accountability for integrity, increase transparency, and expand our risk detection and prevention capabilities. 

2021 integrity initiatives

Innovations in relationship risk management

In 2021, we enhanced our assessment and monitoring of the reputational and legal risks presented by third parties. Specifically, we began to incorporate smart, front-end risk and reputation assessments into our processes and to invest in continuous, risk-based monitoring over the lifecycle of our third-party relationships.

We assessed and categorized our global sales channels and designed new onboarding and lifecycle monitoring processes to mitigate fraud, corruption and associated human rights and reputational risks in both our sales channel and supplier relationships. Once these improvements have been fully implemented, third parties will be ranked according to risk. This will provide us with better insights at the time of selection, enable risk-based monitoring over the course of a relationship, and deliver actionable intelligence on our highest-risk third-party relationships.

In parallel, we developed new learning and guidance materials for the ABB employees who manage third-party relationships to help them meaningfully monitor and act on potential integrity warning signals. We also revised our standard terms and conditions for sales channel and supplier relationships to clarify our performance expectations and risk-management practices. 

Case study Peer-to-peer platform bolsters integrity culture at ABB

ABB employees having a discussion Reveal case study