MIPS applies a zero tolerance principle regarding corruption and violation of human rights, which the company tries to monitor and prevent both in its business and among its suppliers. Our Code of Conduct for suppliers aims to ensure that all companies in the supply chain assume their environmental responsibility. In addition, they must always respect human rights, labor conditions, and health and safety practices, while conducting business in compliance with applicable laws and rules.

MIPS continually audits its suppliers to ensure compliance with the Code of Conduct. Controls are carried out by our own staff in China, and if deviations are detected, we develop an action plan together with the supplier. Any deviations that arise are always handled in accordance with applicable legislation.

In 2020, the majority of MIPS’ products were manufactured in China where we work with several independent subcontractors. All of the company’s subcontractors in China have signed our Code of Conduct. MIPS also has procedures in place to limit the risk of undue influence when choosing suppliers. All new suppliers must be reviewed and approved by the Head of Operations and/or the CEO before any contracts are signed.

Risks

MIPS is active in geographic areas that are associated with exposure to and an increased risk of bribes and corruption. For example, bribes may be offered to overlook errors and improprieties. MIPS applies a zero tolerance policy regarding bribery and corruption.

With production based with our suppliers who are mainly in China, there is a risk of human rights violations in the supply chain. MIPS works systematically to counteract this by pursuing dialogue, setting requirements and reviewing suppliers.