ECONOMY

BUSINESS: 240 PRACTICES


TOPIC:

Initiative

The Development of the Management Approach to Combating Corruption/Bribery & a Self Assessment Implementation Regarding to Bribery and Corruption Aspects

The Development of the Management Approach to Combating Corruption/Bribery & a Self Assessment Implementation Regarding to Bribery and Corruption Aspects
SUBMITTED FROM:

MYTILINEOS S.A.

MYTILINEOS S.A. is a leading Greek industrial company active in Metallurgy, Power & Natural Gas, Solar Energy and Storage and Sustainable Infrastructure Projects. Established in Greece in 1990, the Company is listed on the Athens Exchange, has a consolidated turnover in excess of €2.3 billion and employs directly and indirectly more than 3,600 people in Greece and abroad.


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Objective Action

1) The disclosure of our position regarding το "zero tolerance" on corruption and bribery from wherever they may come, but also as the basis on which our initiatives based on the framework of responsible entrepreneurship.
2) To eliminate completely our exposure to corruption, as we firmly believe that strengthening transparency in all transactions connected with the Group’s business activities is crucial to its sustainability.
3) To investigate any deficiencies in terms of prevention policies and procedures as well as in terms of transactions, focusing on sensitive areas which may involve circumstances encouraging Corruption and Bribery.

 

Target Audience

1) Our subsidiaries.
2) Our Stakeholder groups.

 

Duration

February 2013 - May 2013


Description

1) The practical application of our Management Approach against corruption and bribery involves:

- The analysis of the prevailing conditions and the identification of potential risks or threats which may encourage the occurrence of non-ethical incidents in our corporate environment. These are implemented through annual self-assessments and internal preventive audits with a view to introducing measures to combat corruption at the level of the Group’s subsidiaries.
- Ensuring that all transactions carried out on behalf of the Group by our shareholders, employees, subsidiaries and key business partners and suppliers, are characterised by a high level of integrity and by high moral standards. Through established procedures, applying primarily in our Purchases and Procurement Units for the selection of suppliers and other business partners, we check the conditions under which every single transaction is carried out, in order to identify and eliminate those which may give rise to incidents of corruption.
- Our operation as a “Responsible Corporate Citizen”, reflected in a number of voluntary initiatives such as: adherence to market rules, participation in international standards to strengthen transparency, establishing transparency as an important item on the agenda of the ongoing dialogue with our key Stakeholder groups, the provision of training on anti-corruption policies and procedures to our employees of all levels and in general in our dedication to ethical business practices and proper corporate governance.

2) In each one of our subsidiaries, we implemented a self-assessment procedure regarding our performance in connection with actions to combat Corruption and Bribery, drawing on the guidelines accompanying the relevant tool of Transparency International.

3) Through the procedures applied in the Purchases – Procurement Units of our subsidiaries, we checked the selection of business partners as well as all types of transactions.

4) Through the Internal Audit System, we assessed the relevant risks and verified the compliance of our subsidiaries' operations with our established policies and procedures, as these are defined in our Code of Professional Ethics, in the Internal Regulation of each individual company, and in the laws and regulatory provisions in force.

5) We upgraded our UNGC COP Differentiation Level from Active to Advanced. In doing so, we strengthen our commitment to Principle 10 of the UN Global Compact and we move towards the gradual application of specific best practices that will help us implement our policy more effectively.


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Impact on Society

1) This procedure enabled us to investigate any deficiencies in terms of prevention policies and procedures as well as in terms of transactions, focusing on sensitive areas which may involve circumstances encouraging Corruption and Bribery.
2) No incidents of Corruption or Bribery were recorded in the Group for 2013.



Initiative Location

In our companies headquarters in Attica and Viotia.


Working with Organization

No


Workers Participation

Yes (Our subsidiaries CSR teams and related divisions).


Benefits for Οrganization

1) Strengthening of the Group’s precautionary principle, primarily in connection with environmental and social issues but also in connection with CSR governance issues at the level of our subsidiaries.
2) The development and application of the Group principle of Integrity.




Connection with Global Goals



No Connection with Global Goals found





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