as a leader in
Peace, justice and strong institutions
PAREX’s policy is to reject all forms of corruption under all circumstances.
Employees are obliged to refuse any such practice. In the event of a problem, they are to alert their supervisor immediately, who will implement the necessary actions. Employees are also responsible for ensuring with their business partners that no such practices are carried out by a third party on behalf of PAREX.
PAREX has drawn up a Code of Conduct in five languages, distributed early in 2016 to all Group employees.
The Code of Conduct describes the behavior to be followed, in particular to prevent all forms of corruption. The Code of
Conduct was reviewed and updated for the first time in Autumn 2017 and the new version will be circulated during the first quarter of 2018.
PAREX also works on educating its employees: in April 2016, an awareness session organized by the Legal Department was delivered to the CFOs of the Group’s subsidiaries, and in the wake of this, several subsidiaries set up specific awareness-raising sessions for their employees.
Following on from 2016, some 2, 180 members of staff (managers, sales reps, technicians and shop-floor workers) benefitted from a total of 2, 570 hours of awareness sessions on this subject.
Furthermore, in 2017 the Group drew up its first Global Anti-Corruption Risk Map. The Legal Department then led the roll-out to subsidiaries of written policies pertaining to conflict of interests and how to deal with the issue of gifts and invitations.
A new supplier evaluation process was launched in 2017 via the EcoVadis platform, with the issue of Professional Ethics being one of 4 themes for assessment against 21 different indicators.
Last but not least, the PAREX Executive Committee has taken the decision to implement a Compliance Certificate that will be signed in March 2018 by all the main support functions, Regional Managers and the Managing Directors of each subsidiary.