Compliance means conforming to stated requirements (defined for example in laws, regulations, contracts and policies).
Tele2 is subject to specific telecom requirements imposed by the governments of the countries in which we operate and by the EU. The fact that these are still evolving increases uncertainty and the risk of not being able to comply.
In addition to legal requirements there are also requirements imposed by our customers and the community at large. Tele2 aims to comply also with these requirements which are expressed through our Code of Conduct (CoC) which have to be signed by both employees and by third parties with which Tele2 deals. Hence, we have an obligation to evaluate how well we are doing in this respect and identify areas where there is a risk of non-compliance and the potential effect of those.
As for the operational risks, local management is responsible for ensuring compliance to legal requirements applicable in their countries as well as to the requirements expressed in the Tele2 CoC. The central functions Group Legal and Corporate Responsibility are responsible for issuing guidance, including the CoC, and for consolidating and assessing related risks from a group perspective. Specific aspects of compliance are also assessed by the Internal Audit function in internal audits.
We consider climate change as one of our key emerging compliance risks. A description of how we monitor and manage this emerging risk is described on our page Tele2's Climate Efforts.
A complete list of our most important strategic risks have been described in our annual report with a description of our risk mitigation measures.