Supplier Code of Conduct
At Schroders, we are committed to our values of excellence, innovation, teamwork, passion and integrity. These are the guiding principles that everyone at Schroders uses to navigate the investment world and deliver value to our clients. Our values define our reputation, determine the behaviours we expect of our employees and shape how we do business.
Schroders aims to work with suppliers who align with our values and support our goals. We expect our suppliers to adhere to all relevant legislation and to act responsibly, fairly, ethically and safely at all times. These principles form an integral part of our sourcing activities and decisions.
Our Supplier Code of Conduct sets out the behaviours and high standards we expect from our third party suppliers and their subcontractors.
Legal and regulatory standards
Schroders require our suppliers to comply with all laws and regulations applicable to its business in the countries in which they operate and seek commitments from their own supply
chain to also meet this requirement.
Schroders is committed to upholding all laws relating to the protection of human rights including but not limited to the UN Universal Declaration of Human Rights. In line with our statement about Modern Slavery and Human Trafficking (found on our website here) we are committed to preventing slavery and human trafficking from taking place in our supply chain. We expect our suppliers and their subcontractors to:
- Prohibit human trafficking and child or forced labour including modern slavery
- Comply with all applicable wage and working regulations
- Embrace diversity, fairness and inclusion in their workforce/work place
- Support freedom of association in line with local regulations
- Act ethically and with integrity and require their employees to do the same
- Have robust policies in place that require their employees to adhere to relevant regulations and treat their own employees fairly and ethically
- Have the ability to demonstrate robust procedures are in place to be confident that child labour, slavery or human trafficking is excluded from their supply chain.
Ethical sourcing and behaviour
We expect all our suppliers to conduct business with integrity and incorporate the ethical and responsible behaviour and sourcing of goods into their processes and governance whilst complying with all relevant legislation. Suppliers will be expected to have policies in place to demonstrate robust governance.
Schroders is proud to be an accredited London Living Wage employer. All of our London-based employees, including contractors are paid above the London Living Wage.
We expect, where applicable, our suppliers to adopt and pay the living wage in each of the countries in which it operates and seek the adoption of the local living wage throughout its supply chain.
Bribery and corruption
We expect our suppliers to operate with integrity, comply with the Foreign Corrupt Practices Act, the Bribery Act 2010, the Criminal Finances Act 2017 and have policies in place to prevent fraud, bribery and corruption, market abuse, money laundering, tax evasion and any other improper payments, or inducements within its business and seek to only work with suppliers that demonstrate similar commitments. Suppliers must not directly or indirectly offer improper payments or inducements to Schroders employees that may give rise to actual, potential or perceived conflicts of interest or engage in any other unethical behaviour.
Diversity and inclusion
Schroders is committed to Diversity and Inclusion. Our action plan is available on our website here.
Schroders expects our suppliers to abide by all relevant equality legislation in the countries in which they operate and not discriminate on the basis of age, sex or sexual orientation, gender identity, disability, origin, race, colour, religion or belief in any employment or hiring practices.
Health and safety
Schroders is committed to ensuring all employees and on-site suppliers to Schroders are provided with a safe working environment which meets the requirements of the Health and Safety at Work Act 1974.
We expect suppliers to Schroders to provide a safe and healthy working environment for their employees which meets the requirements of all applicable occupational health and safety regulations and abide by all local laws and regulations including the Health and Safety at Work Act 1974.
Suppliers should ensure their employees receive the appropriate safety instruction and training to keep them safe and well in the workplace and have business management practices in place
- Health and Safety Policy administration
- Hazard identification, risk assessments and relevant procedures
- Fire safety and emergency evacuation procedures i.e. disaster recovery
- First aid and accident reporting procedures
- Clean and safe working conditions
Schroders recognises the role we play in protecting the environment and minimising our environmental impact. We expect suppliers of Schroders to work together with their supply chains to minimise the environmental impact of their operations and ensure business practices meet all applicable environmental laws and regulations.
We require our suppliers to comply with all applicable environmental legislation and regulations and encourage suppliers to have policies for effective environmental management and to participate in voluntary environmental reporting and certification programs and endorse environmental efforts such as:
- Reducing consumption of greenhouse gas emissions
- Reducing consumption of gas and electricity and purchasing energy from renewable sources wherever practical and possible
- Reducing consumption of natural resources and environmentally damaging products and changing to recyclable and sustainable alternatives
- Effective waste management, targeting recyclable waste and minimising waste to landfill
Schroders expects any information received by a supplier from Schroders to be held securely with appropriate technical and organisational security in place to safeguard that information to ensure there is no disclosure of the data to any other party without our permission.
Compliance and measurement
Suppliers must be able to demonstrate compliance with Schroders’ Supplier Code of Conduct. Such compliance includes documented evidence and cooperation, upon reasonable notice, with any certification activity to demonstrate compliance with the Code Schroders undertakes. In line with our procurement procedures, suppliers participating in formal tender processes may be required to provide written acknowledgement of their adherence to the Code of Conduct.
Where local laws and regulations do not meet the same standards as Schroders Supplier Code of Conduct, Schroders terms take precedence where they do not incur a breach of such local regulation.
Supplier adherence and commitment to this Code of Conduct forms an integral part of Schroders sourcing activity and is used along with all other relevant decision criteria when selecting new suppliers or renewing current contractual relationships. In addition, failure to comply with our Supplier Code of Conduct and/or local laws and regulation may result in termination as a Schroders supplier.
To download our Supplier Code of Conduct in full, please click here.
Should you have any questions regarding this Code of Conduct please contact:
Group Head of Procurement