Code of Ethics, Ethical Principles

2 – Ethical principles and conflict of interest

2.1 Ethical Principals

The Group’s competitiveness and competitive position are closely correlated to the efficiency of the individuals and the means that, when integrated with one another, are able to attain successfully the company’s objectives.

The primary objective of the Group and those directing it is to propose and realize projects, measures, and investments devised to preserve and grow company assets without sacrificing the features peculiar to each single contribution. In doing this, it aims to improve the quality and reliability of products and services offered, even through an efficient approach to innovation.

The Group, in order to achieve its goals, bases its actions on the following Principles:

  • RELIABILITY

Aware of the sensitivity and the possible environmental impact of its business, the Group takes responsibility for his actions, ensuring maximum accuracy and reliability in the entire production process and service. For this reason, processes, structures and materials used are cutting-edge innovation and research while respecting the environment and safety.

  • CARE AND ACCURACY

In fulfilling its duties and contractual obligations, the Group requires each Employee or Collaborator the maximum care and professionalism.

  • INTEGRITY OF PERSON

The Group promotes the physical and moral integrity of Employees and Collaborators, both through environments and working conditions appropriate and respectful of human dignity, as well as through policies against intimidation (i.e. mobbing, stalking). Behaviors in order to induce people to act against their will, the Law and the Code of Ethics are not permitted.

  • LOYALTY, FAIRNESS

The Group is committed to fairness in the pursuit of its objectives and in collaboration with all stakeholders. Are therefore avoid situations that could cause a conflict of interest and have put in place all the instruments and procedures to counter them.

  • RESPECT

In carrying out its activities, the Group is committed to comply with all applicable laws and regulations in the countries in which it operates and the Code of Ethics. In particular, the Employees, Collaborators, members of the Boards of Directors and members of the Board of Statutory Auditors of the Group, are subject to compliance with the Code of Ethics, instead of tying the external subjects in the role of suppliers, employees, customers, high standards of integrity and fairness.

The Group promotes compliance with the/between people, deeming impartial in the choices made during their activities with regard to sex, age, race, religion, political affiliations. Each Employee, Collaborator, member of the Board of Directors and member of the Board of Statutory Auditors of the Group is required to comply with the Principles.

 2.2 Values

The values define the behavior and the essence of the Group. All men and women of the Group are called to share, to respect and promote them.

  • HONESTY

The Group is keeping its promises to deserve the confidence of all those with whom it works, on the basis of a transparent and responsible behavior.

  • SERVICES

In carrying out its activities effective and flexible solutions are provided to meet the needs of customers and build strong partnerships.

  • TEAMWORK

The best results are obtained through a teamwork and enhancing the role and capacity of the individual.

  • MASTERY

All energies are dedicated to constantly improving of results and services. Doing well is not enough, the Group’s objective is: to be “Masters”.

  • TIMELINESS

The most important aspect for the Group is acting with the utmost care, promptness and timeliness in order to ensure customers’ satisfaction.

  • INNOVATION

The continuous renewal is central to the business of the Group. To this through a strong team of research and development there is a daily effort to overcome stereotypes and to study new ways to produce energy. Innovation is aimed at improving the quality of products and services, and maintaining a leadership position in the international energy market.

2.3 Conflicts of interest

In performing their work-related duties, every Employee shall refrain from undertaking activities that are not in the interest of the company in which he/she works and the Group.

Each Employee may partake, outside work hours and away from his/her place of work, in activities that are different from those undertaken in the interest of the company in which he/she works and the Group, providing that these activities are permitted by law and compatible with the obligations assumed by him/her as an employee.

The Group’s Employees, Collaborators, members of its Boards of Directors and Boards of Statutory Auditors must nevertheless avoid all activities that constitute a conflict of interest with the company where they operate and/or the Group, with specific regard here to those personal or family interests that could influence their independence in performing the activities assigned to them with the goal of achieving the best interest of the Group.

Therefore, they are required to report any situations causing a conflict of interest, even where only potential, adopting the procedures defined by Group companies.

As an example, which is by no means exhaustive, the following are to be considered as situations causing a conflict of interest:

  • exploiting one’s own position to realize one’s own interests or the interests of third parties, which conflict with those of the company where he/she works and of the Group;
  • using information obtained while undertaking work-related activities to one’s own advantage or to the advantage of third parties;
  • holding stakes, interests or interests with Suppliers, Clients or Competitors;
  • holding jobs or positions of any kind (Director, Auditor, Internal Auditor, Consultant) with Suppliers, Clients, Competitors;
  • the application for the hiring of relatives and family members, as fully described in article 2.4.

2.4 Hiring of Relatives and Family Members

The job applicants shall be selected and evaluated in an objective manner on the basis of their professional skills and their personal characteristics, regardless of whether the application has been submitted by an employee of the Company.

Therefore, applications submitted by relatives and family members of active employees will be considered in the same way as unsolicited applications.

Job applicants are required to report at the moment of the fulfillment of the job application if they are connected by relationship with Sofinter Group’s employees and prosecutors can not participate directly or indirectly in the selection process which involves a family member.

The policy of Sofinter Group limits the granting of powers of attorney to family members who may bind the Company by their double signature and also does not permit a direct reporting relationship.

Each employee is also required to report any specific situation and activity in which he or, to the best of his knowledge, his relatives are holders of economic and financial interests (owner or partner) involving suppliers, customers, competitors, third parties or its affiliates and subsidiaries, or they have administration or control or management functions.

 

  1. General Principles
  2. Ethical Principles
  3. Relationship with employees and collaborators
  4. Relationship with third parties
  5. Staff and workplace policies
  6. Corporate governance
  7. Confidential information and privacy protection. Insider trading

Sofinter Group Code of Ethics

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