When collaborating with our suppliers, trust and transparency are key to reducing social, ethical and environmental supply chain risks.

What we do

We have established a comprehensive supply chain sustainability risk management and work closely with our suppliers whenever they are looking to advance their path towards sustainability.

Supplier Code of Conduct

We expect our suppliers to adhere to the principles laid out in our Supplier Code of Conduct. It includes our principles on human rights, fair working conditions, environmental protection, bribery and corruption, as well as anti-competitive behavior. It also requires our suppliers to focus on and avoid climate-related risks.

  • We consider social, ethical and environmental criteria in all purchasing decisions.
  • TK Elevator released an updated version of its Supplier Code of Conduct in 2023.
  • We expect all of our suppliers to adhere to the principles laid out in the Supplier Code of Conduct.

Supplier Risk Management

In 2022/23, we completed our successful​ transition to a comprehensive supply chain​ sustainability risk management. Our new approach​ includes continuous supplier risk monitoring, risk​ evaluation with defined actions plans and tracking,​ and deep-dive sustainability self-assessments​ for suppliers.​

​We continue to carry out onsite supplier audits​ as a spot check and event-driven tool. Audits give us a better​ understanding of any potential risks and are a good​ opportunity to initiate a dialog with our vendors,​ working with them to improve their performance.​

This supports our overall goal to improve the​ resilience of our supply chain by strengthening​ our suppliers’ performance instead of terminating​ business relationships.

Dialog with our suppliers

TK Elevator engages in continuous dialog with our suppliers to identify opportunities for improving our relationships and to deliver on our sustainability commitments. We regularly host “supplier days” in our operations across the globe. These events promote trust and transparency and foster a common understanding of priorities as we move forward.

  • Having a continuous and open dialog will help us to fulfill our sustainability commitments.
  • Promoting trust and transparency helps us to improve relationships and reduces supply chain risks.
  • We have been recognized by CDP as a “Supplier Engagement Leader 2023” for the second consecutive year, for taking action to measure and reduce environmental risks within our supply chain.

Our Commitments

  • We have a structured approach to assess, monitor and reduce risks within our supply chain.
  • We operate a “zero tolerance” policy for corruption and antitrust violations.
  • We aim at improving relations and our ability to fulfill our sustainability commitments by having a continuous, open dialog with our suppliers.
Download sustainability report 2023/24