Business Integrity Policy

Teraloop is regulated by legal, ethical and technical frameworks. We are affected by policies and conventions. Teraloop is committed to behaviour and communication which are aligned with the ethical standards inscribed in our Code of Conduct. We do our utmost to actively prevent deviations from ethical and sustainable conduct. If such deviations in our own or our partners’ business are detected, we are determined to take swift corrective action. Wherever we work, guiding and monitoring the ethics of our business is a central task of Teraloop’s management. 

Teraloop Code of Conduct

Teraloop and its partners are committed to doing business in a fully sustainable way. Our business needs to be right for the environment and all the stakeholders affected by Teraloop’s activities. Our reputation is maintained by building trust and long-term customer and partner relationships as well as promoting and following sustainable and ethical business practices. We expect adherence to high ethical standards from all our partners.
What we expect from others, we first practice ourselves. This code of conduct has been integrated with Teraloop’s contractual practices as well as internal and external guidelines. We do that to encourage Teraloop’s management and personnel and partners to act in the spirit of the core values of our company. They are integrity, sustainability, prosperity, innovation and commitment. 

Teraloop, its management and employees adhere to this set of rules:

• We categorically refuse to practice or accept any form of bribery or extortion
• We have zero tolerance for discrimination and abuse of fundamental human rights
• We treat each other and our stakeholders in a fair way
• We act to foster a positive business culture of mutual respect and integrity
• We make decisions which reflect our values
  

Following our Code of Conduct

In order to ensure that Teraloop’s personnel, management and partners understand and follow the Code of Conduct, it is introduced to them prior to hiring or contracting with them. The Code of Conduct becomes an inherent part of every new partnership agreement into which Teraloop enters. Non-adherence to Teraloop’s Code of Conduct and Business Integrity Policy may lead to disciplinary measures or termination of any such agreement. To ensure that any deviation from our chosen code of ethical conduct is adequately reported and acted upon, the compliance of our partners’ performance with our Code of Conduct and our Business Integrity Policy is systematically monitored and evaluated. 

Any potential violation of Teraloop’s policies needs to be directly reported to Teraloop’s management. Teraloop’s website is all the time available for informing the company management of a deviation from Teraloop’s standards. Teraloop’s management is accountable for swiftly acting upon any reported deviation by following the procedure set for corrective action in Teraloop’s quality system.

Teraloop is committed to operating in a transparent way. We strive to effectively communicate and demonstrate Teraloop’s values to each other and our stakeholders. 

Teraloop’s Corporate Social Responsibility

Teraloop’s corporate goal is defined as prosperity through access to sustainable electricity. Our mission is to enable sustainable energy value chain. Our vision is fully renewable generation of electricity. Teraloop is inspired, driven and guided by the necessity of addressing the social, environmental and financial sustainability of its operations. Aligned with the goal of the company, long-term prosperity of both Teraloop and its stakeholders is considered reachable if this remains the basis on which Teraloop develops its business.

Teraloop’s Corporate Social Responsibility Policy is separately documented in Teraloop’s quality system. Teraloop’s operations acknowledge the fundamental responsibilities in the areas of anticorruption, human rights, labor and environment. To enable long-term sustainable business and take responsibility for its impact on people and planet, Teraloop has integrated the 10 principles of the Global Compact of the United Nations with its internal policies and other guidelines.