1、Sound corporate governance ensures that companies are managed as sustainably,responsibly and efficiently as possible in the interests of the shareholders.It is a matter of complying with external regulations and doing the right things.At H&M Hennes&Mauritz AB(H&M),values,global policies and guidelin

2、es are important tools for the business.The Code of Ethics,which is signed by all colleagues who interact with business partners,clearly states the approach of H&M when doing business.H&M operates in many markets that have different challenges,and where laws,environmental requirements and social con

3、ditions may differ,why acting consistently and with a strong ethical compass is necessary.Corporate governance report 2021 H&M Hennes&Mauritz ABH&M Hennes&Mauritz AB is a Swedish public limited company.H&Ms class B share is listed on Nasdaq Stockholm.H&M applies the Swedish Corporate Governance Code

4、(the Code)since 2005.The Code is based on the principle of“comply or explain”,which means that companies applying the Code may deviate from individual rules provided they give an explanation of the deviation,describe the chosen alternative and provide the reasons for the devi-ation.The code is avail

5、able at corporategovern-anceboard.se.This report,which covers the financial year 1 December 2020 to 30 November 2021,here-after referred to as the 2021 financial year,was prepared in accordance with the Code and the Swedish Annual Accounts Act by the companys board of directors.It has been reviewed

6、by the companys auditors.External and internal governanceH&M is governed by both external regulations and internal control documents.Examples of external regulations are:The Swedish Companies Act Accounting legislation including the Swedish Bookkeeping Act and Annual Accounts Act MAR the EU Market A