HALCOR SA

To establish a Code of Conduct that further promotes ethics, honesty, transparency and professionalism throughout our Company. Additionally, a related educational program that was coordinated by the company aimed at informing and raising the executives and managers’ awareness on transparency, anti-corruption and  corporate governance issues.

The Code of Conduct and its related procedures & measures are applicable to all employees, senior executives, officers and directors of Elval and its subsidiaries. Executives and directors of Elval participated in the educational program.

The Code of Conduct was introduced on 2014 and this educational program began in 2010 by training all Elval’s executives, while the year 2014 the company’s administrative employees received the same training. The company aims to apply the practice in its subsidiaries too in the near future.

Elval, which implements more and more actions for responsible operation, proceeded to plan and implemented an important educational program about transparency, anti-corruption and corporate governance. This educational program began in 2010 by training all Elval’s executives, while the year 2014 the company’s administrative employees received the same training. 

Our Code of Conduct, combined with our rules of corporate governance and our policies, provide the framework for our corporate operations. It is in line with ISO 26000 and the 10 principles of the UN Global Compact, which aims to align businesses with human rights, labour, environmental care and anti-corruption principles. The principles of our Code of Conduct are based on the OECD guideline for multinational enterprises.

Our Code of Conduct contains fundamental principles, rules and core values which form the framework for our corporate actions. This set of standards describes the behaviour we expect of our people, as well as the way we conduct our business with our partners and third parties.

Elval conducts its business in a framework of relevant laws, regulations and internal policies. However, we recognize that this may not govern all behaviour. We feel it is important for all our customers, suppliers and our own people, as well as other stakeholders, to understand exactly what we stand for and how they can expect us to conduct ourselves.

The combination of our Code of Business Conduct and Corporate Principles provide an excellent foundation for creating the trust that plays a key role in our sustainable business success.

Our Code of Conduct was developed in cooperation with Grant Thornton Greece. The educational program was developed and implemented in cooperation with freelance associates.

The Code of Conduct and its related procedures & measures are applicable to all employees, senior executives, officers and directors of Elval and its subsidiaries. The majority of the company’s employees and executives participated in the program.

Oinofyta Viotia – Elval’s facilities

This educational program began in 2010 by training all Elval’s executives, while the year 2014 37 out of 209 of the company’s administrative employees received the same training. As a whole, the company has trained 20% of administrative employees and 100% of its executives on Corporate Governance, Transparency and Anti-corruption issues.

To date there have been no incidences of corruption within the Company.

The benefits from establishing a Code of Conduct are valuable.

Defining the proper/ moral behavior and development of professional ethics culture to all employees. The Code of Conduct further promotes ethics, honesty, transparency and professionalism throughout our Company.

The program’s benefits are important to Elval and to society as well since:

• Educating, informing and raising the employee’s awareness is achieved
• Mentality change against corruption tolerance is put forward
• Transparency in the company’s operation is strengthened.
• The chances of relevant incidents taking place in the company are reduced
• The risk connected to the presence of relevant incidents is reduced
• The company’s commitment to morale and responsible operation is evident.