Code of Conduct for Suppliers
We have set ourselves strict ethical rules that guide us in all our business activities. We expect our product and service suppliers ‒ who are recruited locally for preference ‒ to abide by the same standards as we do. When selecting suppliers, we assess not only their economic performance but also their ecological, social and ethical sustainability.
Our Code of Conduct sets the standards for taking responsibility for people and the environment that govern these business relationships. It is based on the principles set out in the UN Global Compact and by the International Labour Organisation (ILO).
Group guidelines on supplier management
The Group’s guidelines on supplier management govern the standards, criteria and assessment parameters used in Aareal Bank Group’s overarching supplier management activities. We deliberately impose high quality requirements on our authorised suppliers. Besides complying with all the necessary environmental requirements, the guidelines also consider other key points such as the supplier’s market position, the quality of the goods and services, price and delivery performance, the quality of commercial procedures, and adherence to deadlines and volume targets. The individual aspects are assessed on a regular basis by the responsible units concerned (e.g. the purchasing organisations and the divisions).
Regular supplier assessments
We conduct in-house evaluations to determine whether suppliers comply with these requirements. Since 2013, our supplier evaluation questionnaire has also focused to a greater extent on social standards, including health and safety at work, in addition to environmental issues. It is used for new suppliers and for our annual reviews of current key suppliers.