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We are committed to consciously considering sustainability factors and business ethics in sales. We have policies and processes in place with the aim to ensure that we do ethical and responsible business in compliance with applicable laws and regulations, including sanctions and export control regimes.
We have continued to develop our approach to screen certain sales deals from human rights, environmental, and responsible business ethics perspectives in order to identify potential risks as part of knowing the customer. This is typically when export credit agencies or certain private insurance companies are involved in credit guarantees in connection with customer financing.
In line with internal policies, we also perform risk assessments from compliance, legal and corporate responsibility perspectives in sales to selected governmental end-users in identified high-risk countries. We are continuously working to expand the scope of responsible sales and business ethics screenings to beyond these specific deals.
We identify sustainability risks through credible tools and identified findings are assessed, described and escalated to relevant forums within business areas or at Group functions. Mitigation actions typically include engagement with our customers on the findings, and in some cases adapting wordings in our sales offer to mitigate the identified risks.
If the risks are considered high or not possible to mitigate, we may decide not to proceed with individual sales deals. In our screenings, we consider country risk levels, customer segments, end-users and potential end-use. Our business areas have the responsibility to perform the screenings, with support from Group functions when needed, to ensure responsible sales.
Volvo Trucks, Renault Trucks, Volvo Construction Equipment and Volvo Buses screened approximately 170 sales deals in 2019, primarily in connection with customer financing. Over the past years, Volvo Construction Equipment has continued its efforts to build capacity and train sales and customer finance personnel on responsible sales and business ethics across various sales regions.
