CORPORATE SOCIAL RESPONSIBILITY POLICY

LEGAL COMPLIANCE

Altech complies with local laws and regulations of each country in which we operate. If provisions in other laws, regulations or rules, be it local, national or international, have a more stringent position than matters mentioned in this Policy, those shall be observed and complied with. In cases of conflict between this Code and a mandatory local regulation, the regulation shall prevail.

CUSTOMER INTEGRITY

In the course of its operations, Altech has access to customer data for processing and storing. When handling data, Altech take into account customers’ rights to maintain personal integrity and privacy. Altech complies with applicable laws and regulations on the freedom of speech, the right to privacy and personal integrity as well as on personal data retention. Altech will endeavor to prevent any unauthorized access to personal information. Altech does not process personal data other than as allowed by applicable legislation.

ANTI-CORRUPTION

None of Altech’s employees may offer, ask, give or accept, directly or indirectly, any undue advantage for personal gain from any third party, unless it can be constituted as being within the boundaries of accepted business practices such as representation and reasonable hospitality given in the ordinary course of business.

In most countries gifts or benefits to government employees or public officials are considered a violation of law or regulation. Altech’s employees must not offer money or any gift to an official or employee of a governmental entity, except for symbolic gifts of insignificant monetary value provided this is allowed by all applicable laws.

FAIR COMPETITION

Altech is firmly committed to fair competition and open markets. We are firm believers that free and fair competition works in our favor allowing Altech to provide the highest value to our partners and their customers.

CONFLICT OF INTEREST

Business decisions are always be made in the best interest of the company and personal relations or considerations may never influence Altech’s business decision making. This includes not only potential gains for us, but also for our relatives and friends.

POLITICAL INVOLVEMENT

Altech observes neutrality with regard to political parties and candidates, and abides with the applicable international treaties and national legislation on lobbying activities.

FINANCIAL REPORTING

Altech follows strict accounting principles and standards and to have appropriate internal controls and processes to ensure that accounting and financial reporting complies with legislation. The integrity of Altech’s financial records is critical to the operation of Altech’s business. We must ensure that all transactions are properly recorded, classified and summarized in accordance with applicable procedures and standards.

CORPORATE GOVERNANCE

Altech strongly believes in transparent and consistent corporate governance practices and abides with the applicable regulations and standards in each of its geographical markets.

FAIR WORKING CONDITIONS

All employees are entitled to fundamental human rights which shall be known, understood and respected and be applied equally. No one shall be subject to corporal punishment, physical, sexual, psychological or verbal harassment or abuse. Forced labour, exploited or bonded labour is strictly forbidden. Employees shall not be required to lodge deposits or original identity papers as a condition for employment. Employees shall not be forced to work more than the limits on regular and overtime hours allowed by the law of the country in which they are employed. Overtime shall be compensated at the legally required rate. All employees shall have contracts specifying the terms of employment. Altech does not accept discrimination, whether active or by means of passive support, whether based on ethnicity, national origin, religion, disability, gender, sexual orientation, marital or parental status, union membership, political affiliation or age. Altech regards diversity as a lever for profitability. The ambition is to focus on behaving in a way that attracts diversity. The rights of employees to freely associate and to bargain collectively, in accordance with the laws of the countries in which they are employed, shall be recognised and respected.

COMPENSATION AND BENEFITS

Employees shall be paid at least the minimum total wage required by applicable national law, including all mandated wages, allowances and benefits. All employees shall have the right to equal pay for equal work, as well as periodic holiday with pay.

OCCUPATIONAL HEALTH AND SAFETY

Safety at work is a prioritised concern of Altech. Altech takes adequate steps to prevent accidents and injury to health shall be taken by minimising the causes of hazards inherent in the working environment and by providing appropriate safety equipment.



PRECAUTIONARY APPROACH, MINIMISING ENVIRONMENTAL IMPACT

Environmental laws and regulations applicable to local surroundings and the relevant business sector shall be complied with. Practices minimizing the impact on the environment is encouraged and care is taken with any environmentally sensitive substances or processes. Altech promotes a sustainable development and cost efficiency by reducing resource consumption and thus the impact on the environment