Ethics and compliance
Risk arises from a potential failure to comply with:
- Solvay’s Code of Conduct,
- Supporting policies and procedures,
- Laws and regulations in the jurisdictions in which Solvay operates.
- Failure to implement good governance in a joint venture,
- Direct or indirect involvement in human rights violations,
- Intentional misstatement of financial reporting, corruption and by-passing of internal controls.
Prevention and mitigation actions
Solvay’s Code of Conduct, policies and procedures:
- Applicable to employees, critical suppliers, and majority-owned joint venture partners,
- Several training courses & communication actions to address behavioral risks,
Special training courses to mitigate specific risks:
- Anti-bribery and anti-corruption,
- Human Rights in Business Policy: implementation, governance and training.
Group-wide Speak Up program for reporting non-compliance, either directly to management or to third-party Helpline.
2017 main actions
- Almost 80% of employees trained on Solvay’s Code of Conduct,
- More languages/dialects added to web-based training catalog for Code of Conduct,
- New Human Rights Policy adopted and published; internal Steering Committee appointed to oversee implementation and compliance, and Human Rights training for sensitive populations,
- Anti-bribery and anti-corruption (ABAC) training of more than 1,000 leaders and employees in sensitive positions.