United Internet is committed to transparent, responsible business conduct as set out in the German Corporate Governance Code and employs comprehensive compliance and risk management to ensure integrity, compliance with the law, and sustainable business practices. Defined Corporate Values, Leadership Principles, and the Code of Conduct serve as the basis for thinking and acting together at United Internet.
The double materiality assessment resulted in material impacts and risks in relation to business conduct, which are described in more detail in the following.
Business conduct that is based on responsibility promotes value creation within the Company. It conserves resources and reduces pollution. At the same time, fair and respectful interaction within the Company creates a positive working environment that supports social justice. This contributes to the Company’s resilience and hence to long-term job security and a sustainable value chain.
One material point here is compliance with internal policies and guidelines. Inadequate prevention/a lack of awareness among employees regarding internal guidelines such as the Code of Conduct can facilitate disrespectful behavior and negatively affect the corporate culture. These impacts may lead to employees experiencing psychological stress resulting in damage to their health.
Compliance with existing laws and guidelines, including environmental requirements, is extremely important to United Internet, since violations can lead not only to negative consequences for the environment and society but also to fines, and can damage the Company’s image. Illegal or unethical business practices such as corruption, bribery, and other forms of illegal conduct can lead in individual cases to criminal prosecution.
Both violations of existing laws and guidelines and the failure to integrate sustainability matters into products and services could negatively impact the Company’s brand image. This could result in the loss of customers and in turn to lost revenue for United Internet.
The Management Board and the Supervisory Board issue a public declaration of compliance each year in which they commit to largely follow the practices recommended in the German Corporate Governance Code. The small number of justified derogations are explained in detail so as to inform stakeholders in full about the corporate governance structures. In addition, the Management Board reports regularly to the Supervisory Board and the latter’s Audit and Risk Committee. The focus here is on the enterprise-wide internal control system and the risk management system, which also cover sustainability-related targets, plus the internal audit system and the compliance management system.
In addition, the Company encourages the continuous professional and personal development of the members of the Supervisory Board through specific training and CPD measures, so as to meet business conduct and market environment requirements. Among other things, a Supervisory Board member took part in a dedicated event on the topic of sustainability. Moreover, United Internet’s Supervisory Board received training on current developments in digital law. The bodies’ professional skills are show in the “General Information” chapter .
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