Human rights statement

As a purpose-driven company, we respect human rights. Our commitment includes using only voluntary labor, following all applicable wage and benefit laws, not employing under-age individuals in violation of any applicable child labor laws, and providing a work environment that is safe and healthy and free of harassment and unlawful discrimination. Principal® has a zero-tolerance policy for discrimination and does not discriminate against individuals based on age, race, color, religion or religious creed, sex, gender, gender identity, gender expression, pregnancy, national origin, ancestry, citizenship status, mental or physical disability, medical condition, genetic information or characteristics, sexual orientation, marital status, domestic partner status, military status, veteran status, or any other characteristic protected by law. Additionally, we are committed to the protection of women’s rights and the rights of people of color.

Principal respects and supports human rights principles as defined by the principles of the Universal Declaration of Human Rights (UDHR), the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work (“ILO Declaration”), the United Nations Global Compact and the United Nations Guiding Principles on Business and Human Rights. We will not tolerate human rights violations of any kind, including human trafficking or slavery, forced labor and child labor and we are committed to implementing effective systems and controls to prevent violations from taking place anywhere in our business or supply chains.

Employees

We understand at times employees have concerns and suggestions for improvement which requires communication beyond our existing employee listening and enterprise readiness team. We encourage all our employees to speak up and take advantage of the open-door philosophy our leaders follow. We listen to our employees and take their comments seriously. Our goal is to provide an environment of inclusion and freedom to associate with each other, including to discuss the terms and conditions of employment or for the purpose of collective bargaining, in accordance with the local laws. Diversity and inclusion are also foundational to our culture and work environment. We’re committed to nurturing an inclusive and diverse workforce based on the highest ethical standards and a dedication to fairness, integrity, and trust. We continuously work with our employees and managers to ensure they are informed of this human rights statement and their roles to maintain these practices as outlined in our Global Code of Conduct.

Suppliers and vendors

Principal expects its suppliers and vendors (“Suppliers”) to share our commitment to integrity. We recognize that suppliers are independent entities; however, their actions may impact and/or reflect upon Principal and its reputation. Therefore, we expect all our Suppliers to comply with the Supplier Code of Conduct and our human rights statement. Suppliers must use only voluntary labor, follow all applicable wage, and benefit laws and not employ underage individuals in violation of child labor laws.

Suppliers must not engage in slavery or in human trafficking activities. This includes transporting, harboring, recruiting, transferring, or receiving vulnerable persons by means of threat, force, coercion, abduction, or fraud for the purposes of exploitation. Suppliers shall provide a work environment that is safe and healthy, and free of harassment and unlawful discrimination. Prior to engaging in business with a Supplier, we complete various screenings including applicable sanctions lists (i.e., Office of Foreign Assets Control (OFAC)) checks and ethics and adverse media checks to ensure our supply base is conducting business not only legally, but also ethically with regard to human rights.

Customer protection

To protect our customers, Principal neither engages in nor tolerates false, misleading, or exaggerated advertisements. Employees only disclose product and service information that can be substantiated as part of our fair marketing and advertisement statement. We also treat the right to data privacy as a human right and have robust information security and data privacy policies to protect the rights of our customers.

Reporting violations

Principal does not tolerate, and takes aggressive action against, unethical conduct or fraud, whether perpetrated by employees, customers, vendors, or those who sell our products. Unethical or illegal conduct, including but not limited to employment practices, work environment concerns, or any other violations of our human rights statement, must be reported through our Ethics Hotline through a phone or online report, both of which allow anonymous reporting. In the U.S. call 866.858.4433 (staffed 24/7) or submit an online reporting form. Individuals located outside the U.S. should submit the online reporting form.