Statement from the CEO
A dedication to the fundamental ethical standards is one of the main principles underlying our work, reflecting the fact that decency and honesty are the fundamental prerequisites of success in today's globalizing market.
The Code of Ethics that we have adopted at Basic Element, and which is to be officially adopted and implemented by each business in our Company, lays down the basic guidelines and principles to be followed in our work. While these guidelines and principles cannot embrace all the situations that may arise, they can guide us through the complex world of modern business and instruct on the appropriate rules of conduct. I have myself carefully scrutinised the Code, and I hope that all the employees to follow suit.
The Supervisory Board, the Company's management and I personally will observe these principles and standards in our work. Accordingly, we insist and expect each of you to follow the Code of Ethics.
Our reputation is our most valuable asset, and observing the principles and provisions of the Code of Ethics is the least we can do to build and sustain our business reputation.
We are creating an organization that will not tolerate deviations from ethical standards and principles. I ask our employees to report any such deviations that they may encounter, and assure them that this information will under no circumstances be used against them.
Oleg V. Deripaska
Code of Ethics
I. Introduction
The present Code of Ethics is approved by the Supervisory Board of the Basic Element Company. The Code was introduced because establishment, enforcement and protection of the Company business image as of a company with fair, respectable structure, operating in accordance with moral, ethic and legal rules and customs of the business turnover in the countries, where the Company operates, is one of the priorities of the Company development.
The present document contains brief descriptions of the basic ethical principles of the Company work. Separate Code provisions, the Company ethical principles and their application shall be described in detail in additional regulating documents of the Company: the Set of Corporate Ethical Standards of the Basic Element Company, the Statute on the Ethics Committee of the Basic Element Company, the Statute on the Ethics Officer of the Basic Element Company and other policies, standards, regulations, provision, job descriptions etc.
II. Ethical Values of the Company
The Company appreciates:
- Respect of personal rights and interests of our Employees, clients' demands and terms of cooperation, set by our business partners and by the society.
- Impartiality, meaning labour compensation in proportion to the results achieved and equal rights for professional growth.
- Honesty in relations and in provision of all information required for our work.
- Efficiency as sustainable achievement of maximum possible results in everything we do.
- Courage for resisting the unacceptable and taking on responsibility for the consequences of own decisions.
- Care to protect people from any harm or threat to their lives and health and to safeguard the environment.
- Trust in employees that allows us to delegate powers and responsibility for decisions and ways of their implementation.
Observance of these values will give us a possibility to maintain and develop corporate culture, which is necessary for achieving the highest results in all our business aspirations. Our values manifest themselves in our success. We do not sacrifice our values for profit making. We regard these values as the connecting link for all of our spheres of activity and deem the same in the relationships with our business partners.
III. Terms and Definitions
Company - the Basic Element Company.
Conflict of interests - a situation when personal interests of the Employee within the framework of his duties execution can come into collision with the Company's interests.
Employee - an individual that has labor relations with the Company on the basis of the employment agreement.
IV. Main Ethical Principles
For realization of its ethical values the Company designed and follows ethical principles, including five main spheres:
- Employees
- Relations with external companies and clients
- Government relations
- Health, Safety and Environment
- Efficiency, control and reporting
Employees
The Company meets all the requirements of the Labour Legislation and conditions of the employment agreement in relations with Employees, respects personal liberty and human rights, gives equal possibilities to each Employee and prevents discrimination in labour as well as prohibits the use of child labour in all of it's businesses. The Company maintains confidentiality and provides protection guarantees of Employees' personal data.
Employees:
- Are not authorised to be involved in other activity, interfering with of preventing their duties performance in the Company,
- Shall act on behalf of the Company and avoid any conflict of interests,
- Are not authorised to enter into transactions with equities on the basis of insider information,
- Shall not accept from external companies gifts, services and entertainment, that can be interpreted as a bribe.
Relations with external companies and clients
The Company aims at creation of mutually profitable relations with external organizations and clients on the basis of partnership and mutual respect. The Company:
- Is oriented towards the needs of the Clients and aspires to guarantee high quality of its production and services,
- Always performs its obligations and expects obligations performance from its partners,
- Operates in accordance with the anti-money laundering legislation,
- Cooperates only with partners, who deal in legal activity and base on legal financial sources,
- By no means accepts illegal payments and does not apply unethical and unfair methods of influence on its partners and competitors.
Government relations
The Company aspires to creation and maintenance of stable official cooperation with governmental authorities in accordance with laws and other norms. Company:
- Makes no attempt to illegally influence the resolutions of the governmental authorities or their representatives and officials,
- Follows all the laws and requirements, applicable to its activity and stay true to the letter and to the spirit of laws,
- Pays taxes in full and on time
- Doesn't participate in political parties activity either directly or indirectly
Health, Safety and Environment
The Company makes all the necessary steps to eliminate industrial accidents and occupational injuries. The Company seeks to fully comply with all the officially approved environmental protection standards and requirements and to the full extend realizes the necessity of production development in a way of environmental safety by means of:
- Efficient usage of natural resources;
- Work-out and implementation of resources-saving and waste-free technologies;
- Implementation of the new systems of ecology management and ISO standards on each plant and enterprise of the Company.
Each employee is liable for fulfillment of HSE protection requirements in all the spheres of the Company.
Efficiency, control and reporting
The Company aims at optimal usage of the resources and estimates risks related to its operations and manages such types of risks for the achievement of the goals set by the shareholders.
The Company follows the principle of transparency and high standards of planning, control and reporting and aspires at protection of its assets, including business information.
V. Compliance with the Code Requirements
Each employee is obliged to fulfill the Code requirements and is liable for his ethical behavior. The Code violation leads to application in respect of the violator of the liability measures, set by the Supervisory Board and the General Director of the Company, by law or other regulatory acts.
Each Employee is obliged to immediately inform about any cases of already made or possible violations of the Code directly to the Ethics officer or to the line-manager. The Company guarantees anonymity and no punishment to such Employee.
The Company guarantees a thorough, objective and qualified review of all calls received. No sanctions can be applied to any Employee without a proper internal investigation.
The Company ensures a training course in ethics for all Employees as part of its induction and professional development programs. The courses shall be organized by the management of the Company under the supervision of the Ethics Officer. Moreover all Employees of the Company can anytime address the arising questions to the Ethics Officer of the Company.
Contact information:
Ethics Officer
Leontev Artem
tel. (495) 720-5025
ethics@ethics-code.ru |
