Rosendahl Design Group A/S Annual Report 2023 • Management’s Review Risks Rosendahl Design Group is exposed to a wide range of generic financial and non-financial risks and opportunities. The appli - cation of a holistic risk management approach is therefore an important management tool for Rosendahl Design Group. PRODUCT FAILURE An extensive and widespread supply chain distributed over large parts of the world increases the risk of product failure. Therefore, Rosendahl Design Group works systematically to ensure that all our products can be used without any risk to end users. Risk assessments are conducted on all new products, initiating tests where relevant and necessary e.g. testing for harmful chemical residues. Our products are systematically tested for health hazardous substances, we regularly carry out unannounced checks in production facilities and submit declarations of conformity under Danish and inter- national legislation for products that come in contact with food. Furthermore, in-line and final inspections are conducted to make sure that no technical product failures arise. There have been no product recalls during 2023. ENVIRONMENT AND CLIMATE At Rosendahl Design Group we work long-term and systemati- cally on reducing our environmental impact and ensuring environmental responsibility and accountability in our supply chain. The production of goods can affect the environment in several different ways, including CO2e emissions from energy-intensive production or in connection with improper handling, mismanagement or inappropriate disposal of produc- tion waste, chemicals, and other harmful substances. We strive to always work in accordance with existing and inter- nationally recognized environmental standards and principles that fully or partially apply to liability for the environment and climate. These are among other the UN Global Compact princi- ples, Greenhouse Gas Protocol for climate reporting and the regulations within REACH and WEEE. These guidelines contrib- ute to our systematic work, ensuring that both our activities are carried out responsibly in relation to the environment and climate. SOCIALLY RESPONSIBLE SUPPLY CHAIN With production in many different parts of the world, we as a company have a responsibility to ensure the respect of human rights and fair working conditions throughout our supply chain. We have a code of conduct, shared with, and signed by, all our product suppliers, covering, among other areas, human rights, and labour rights. Furthermore, all suppliers in risk-classified countries are subject to yearly audits by a third-party audit company. The audit report provides an insight in the working conditions in the factories and enables us to initiate improve- ments, where necessary, based on audit results. AGREEMENTS RESTRICTING COMPETITION A competitive market with strong, consolidated retailers increases the risk of anti-competitive practices such as price agreements. Rosendahl Design Group takes an active approach against such risks by conducting compliance programs, reviewing contracts, upholding Chinese walls between sales channels, and implementing value based business practices. INCREASED COMPLIANCE REQUIREMENTS Increased requirements in the fields of GDPR, marketing law and equivalent regulated areas increase the risk of violations. Rosendahl Design Group has implemented designated software to manage procedures, documentation and agree- ments as well as adopted compliance policies and guidelines within all relevant topics. REPUTATION It is of significant importance to Rosendahl Design Group that we act ethically and socially responsible and that our practices and agreements are respectful of environmental and social considerations. Being a C Corp certified company goes hand in hand with this ambition and is further supported by the adoption of a social and environmental obligation in our Articles of Association. We strive to continuously improve the company’s reputation so that we remain a trusted business partner, an attractive supplier to the consumer, and a preferred place to work. 20
Download PDF fil