Risk arises from a potential failure to comply with:
- Solvay’s Code of Conduct and all 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:
- It applies to employees, critical suppliers, and majority-owned joint venture partners;
- Solvay deployed several training courses and communication actions to address behavioral risks.
Special training courses to mitigate specific risks include:
- Anti-bribery and anti-corruption, Anti-competition, and the Gift & Entertainment Tracking System Policy;
- 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.
2018 main actions
- More than 80% of employees received training on Solvay’s Code of Conduct, and a large variety of languages was added to web-based training catalog for the Code of Conduct;
- A Global Human Rights Committee has been appointed to oversee implementation, compliance, and training on the Group Human Rights policy;
- More than 1,800 leaders and employees in sensitive positions attended Anti-Bribery and Anti-Corruption (ABAC) training.