CORPORATE GOVERNANCE & CITIZENSHIP
Corporate Governance & Business practices
MONIER’s Corporate Governance principles are defined in our Code of Business Conduct, which defines how our company is operated and controlled. Each employee is obliged to follow these rules in order to satisfy our customers, suppliers, shareholders and their colleagues, complying with legal and regulatory requirements and meeting environmental needs. Fairness, integrity, openness, responsibility and accountability are the underlying values of how our company is conducted.
Our corporate governance principles comprise the following areas:
- Compliance with laws and regulations: We have implemented a policy on competition and trade issues that complies with the relevant regulations applicable in various countries where we operate. It prohibits unfair practices such as collusion, unfair market domination and dumping, and ensures compliance with laws on corruption.
- Fairness and financial reporting: We are convinced that the integrity of financial reporting is crucial to ensure proper management of the Group and fair and accurate financial disclosures. Records, books, accounts and the financial statements of the Group must appropriately reflect the transactions carried out and conform to applicable legal requirements, generally accepted accounting principles and to the Group's system of internal controls.
- Preventing conflicts of interest: We have defined rules to prevent conflicts of interest in relationships with competitors, clients or suppliers, especially in cases of financial or private interest issues.
- Protection of the Group's assets: Appropriate Group management requires that reliable information be conveyed to authorised recipients so as to enable them to carry out objective analyses and controls. It also implies that such information be protected to the extent that it is to remain confidential. Each employee is also responsible for proper use and protection of the Group's assets and resources.
- Internal Controls and Audits: Our internal controls are designed to provide reasonable assurance to the Group's management regarding the reliability of financial and business information, protection of assets, and efficiency and relevance of Group operation management and monitoring. Management of these internal controls is carried out by maintaining an appropriate control environment, assessing general and financial risks, completing controls, sharing internal and external information and generally monitoring the process. In addition, independent evaluations of internal control processes and audit procedures are periodically carried out by external auditors.
Corporate Citzenship & Sponsoring
MONIER business units see themselves as an integral part of the societies and communities where they are located. Through their employees, plants and market activities they are embedded in a network of contacts which go far beyond business partners and customers. It is about stakeholder relations to support our interests as well as those of the region, population or environment. We cultivate these relations by involving ourselves in various activities on local as well as national and even international levels.
Just a few examples of how we fulfill our social responsibilities:
- Our management teams are in regular contact with their local authorities such as mayors and public figures in terms of municipal concerns and economic issues. Key topics include, i.e. infrastructure, environmental protection, economic development, support of governmental projects, etc.
- We foster relationships with local action groups or NGOs which handle environmental issues and social projects: