PANDORA ETHICS REPORT
14
two years of traineeship and different assignments at
PANDORAorganistions on three continents.The aim is to
give each trainee the skills and insights so they candevelop
a broad global perspective on PANDORA´s value chain and
consumer value creation.The pilot will be evaluated at the
endof 2015, andwe expect the programme tobe expanded
in the years to come.
DIVERSITY
Employment and promotions at PANDORAmust always
be based onmerit.We are deeply committed towork
against any form of discrimination and remain especially
committed to ensure gender diversity in ourmanagement
positions.To this end, we have set a number of
management diversity objectives, and progress is reviewed
once a year.The objectives and recent results are as follows:
›› By no later than2020, the gender split in senior
management positions (members of the Executive
Management, GeneralManagers andVice Presidents)
should be 40% - 60%. At the endof 2014, 34% of senior
management werewomen, up from 31% in 2013 and26%
in2012.
››The gender compositionof theGroup’s leadership
programmes for the years 2012-2015 (on aggregate) should
mirror the gender composition of staff inVice President and
Director positions. On 1 January 2014, women accounted
for 50% of thismanagement group, andmade up50% of
the enrolment in our 2014 leadership programmes.
›› It is PANDORA’s objective that by 2015 at least 35%
of boardmembers elected at theAnnual GeneralMeeting
must bewomen. By the end of 2014womenmade up20%
of our boardmembers, which iswell above the average
11% for Danish listed companies, but still below our 35%
target. Subsequentlywe have changed the target year from
2015 to 2018 andwewill from2015work to reach our
target.
You can findmore statistics on our Group-wide gender,
management and age composition in theDATA section.
HUMAN AND LABOUR RIGHTS
Our HumanRights Policy is published onwww.
pandoragroup.com/csr and stipulates PANDORA´s
commitment to theUnitedNationsGuiding Principles for
Businesses andHumanRights and the core conventions
of the International LabourOrganisation (ILO).The policy
further instructs us to advance human rightswithinour
sphere of influence.To do this, in2014we continued our
engagement in SteeringCommittees of theHumanRights
Exchange Initiative under the Responsible JewelleryCouncil
and theDanishBusinessNetwork for HumanRights.
At PANDORAwe regularly assess potential human
rights risk inour value chain.These assessments – either
carriedout internally or in cooperationwith external
experts and peers – tend to reach the same conclusion; that
the largest human rights risks are to be found amongst our
suppliers. By sourcing our core jewellerymaterials from
certified responsible supplierswe seek to lower the risks of
becoming complicit inhuman rights infringement where
the potential risks aremost severe.
Further, PANDORA’s Responsible Supplier Programme
(described under PRODUCT) is designed to prevent us from
becoming complicit inhuman rights infringements through
our general sourcing andprocurement activities.
Within jewellery crafting and tradingwe are aided by
our vertically integratedbusinessmodel that gives us full
control of the crafting process. Further, the responsible
foundationonwhich ourThai crafting facilites are built,
aswell as the PANDORA
Ethics
Programme, allows us
to prevent - andwhennecessarymitigate and remedy -
negative impact of our activities.
One ongoing challenge during our continued growth
has been keeping the amount of overtime inThailand
below ILO conventions (overtime at PANDORA is always
voluntary, compliant withThai law and remunerated
at premium rates). Again in 2014, due to exceptional
PANDORA ProductionThailand provides our
peoplewith cheap and healthymeals.
