2 To be perceived and acknowledged as

economically, socially and ethically

responsible.
2 Core values throughout the organization ²
© Àigh Ethics,
© Empowerment,
© Openness
© Teamwork
© Actively involving all stakeholders whenever possible
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 emand honesty and integrity in all parts of our activities and
expect the same from all parties
 Bribes are forbidden
 Gifts and other favours as elements of expected hospitality must not
exceed local customs.
 All employees must avoid any conflict of interest between private
economic issues and the company's business
 All business transactions made on behalf of an SKF company must
clearly appear in the company's accounting

SKF encourages its suppliers to adhere to similar codes of conduct

and their performance in this respect has a significant impact on
supplier selection process
V FOUR CORE VALUES
© To respect employees and their rights.
© To offer safe and good working conditions.
© To offer non-discriminatory conditions.
© To continuously develop skills and competences to enable the
individual·s satisfaction and career possibility.
¦ 


© ot to engage in or support forced labour.

© Not to engage in and tolerate child labor-lower age rule followed.
© To Support the right of employees to form and join trade unions
of their choice and bargain collectively.
© To Ensure that wages and other related benefits meet at least the
legal or industry minimum standard in the country in question.
© To Comply with applicable laws and working standards on
working hours
¦ 



© To Offer safe and healthy workplace to all employees.

© To eliminate rather than just reduce work related accidents and injuries
throughout its facilities.
© To Give employees good opportunities to train for job enrichment and
wider responsibility.
© To Give all employees a fair chance to compete for job opportunities.
© To Treat employee data with strict confidentiality.
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© Communication
Open, approachable ² provide facts in
quickest possible time to the stakeholders

© Environment, Àealth and Safety

Firm Commitment to Ecologically sustainable development
Shared responsibility for environmental care ² by all employees
Progress continually monitored and reported in the annual report
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SKF's management is actively encouraged to find ways and
activities by which SKF and its employees can make a positive
and lasting impact on the society

The positive contributions typically come from involvement in

projects and initiatives which aim at encouraging personal
development for less privileged people, supporting education
and vocational training, supporting local sports and health
initiatives and stimulating other voluntary work.
V To protect the shareholders' investments and strive for
a sustainable and improving return.
V SKF does not interfere in the political life of the
countries where it operates.
V Companies within the SKF Group are forbidden to
contribute financially to political parties or politicians.
V The Group President and CEO - in person or through
explicit delegation - is the only person authorized to
express political statements on behalf of SKF
V All employees have the obligation to follow the Code
of Conduct and no one in the organization has the
mandate to authorize exceptions from the Code of
Conduct.
V Its responsibility of each manager that every employee
is aware of the code of conduct.
V http://investors.skf.com/main.php?p=cg&s=code_of_
conduct&lang=en

V http://en.wikipedia.org/wiki/SKF