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Code of Conduct
We share a set of core values - honesty, integrity and respect for people. We also firmly believe in the fundamental importance of trust, openness, teamwork and professionalism, and pride in what we do.
With the foundation of the core values above, we hereby set out the Code of Conduct applicable to all business activities we do.
1. Sustainable Development
Our Group Companies commit to contribute to sustainable development via providing forms of energy necessary to society and providing other products and services which our customers desire. This requires balancing short and long-term interests, and integrating economic and social responsibilities such as, environmental, compliance and contributions to the society, when promoting our business activities.
Our Group Companies recognize the following areas of responsibility:
1) Responsibility to customers
To win and maintain customers by developing and providing products and services which offer value in terms of price, quality, safety and environmental impact, which are supported by technological, environmental and commercial expertise.
2) Responsibility to shareholders
To protect shareholders' investment, and provide an appropriate return.
3) Responsibility to employees
To respect the personalities and individuality of our employees, to provide them with safe conditions of work and good terms and conditions of service, to promote the development and best use of human talent and to encourage the full participation by employees in their work and the application of these principles.
4) Responsibility to contractors
To seek mutually beneficial relationships with contractors (including joint ventures) and to endeavour to promote the application of these principles in so doing. The degree to which the concept and contents of principles are promoted will be a consideration in the decision to enter into or remain in such relationships.
5) Responsibility to society
To conduct business as a responsible member of society, to observe laws, to respect fundamental human rights and give proper regard to health, safety, security and the environment consistent with the aim of contributing to sustainable development.
3. Business Integrity
Our Group Companies set out and observe necessary company rules, and insist on honesty, integrity and fairness in all aspects of their business.
The same is expected in the relationships with all those with whom we do business. The offer, payment, soliciting and acceptance of bribes in any form whatsoever are unacceptable practices. Employees must avoid conflicts of interest between their private financial activities and their part in the conduct of the Company's business.
All business transactions on behalf of Group Companies must be reflected accurately and fairly in the accounts of each company in accordance with established procedures and be subject to audit.
Our Group Companies comply with all applicable laws and regulations of the countries in which we operate.
5. Health, Safety, Security and the Environment
Consistent with the aim of contributing to sustainable development, our Group Companies have a systematic and continuous approach to health, safety, security and environmental management.
To this end our Group Companies manage these matters as critical business activities, set targets for improvement, and measure, appraise and report performance.
6. Economic Principles
Our Group Companies assert that sound profitability is essential to discharging these responsibilities and staying in business. It is a measure both of efficiency and of the value that customers place on our products and services. Profits are essential to the allocation and maintenance of corporate resources and to support the continuing investment required to maintain stable future energy supplies to meet consumer needs. Without profits and a strong financial foundation it would not be possible to fulfil the responsibilities outlined above.
Criteria for investment decisions are not exclusively economic in nature but also take into account other issues, such as social and environmental considerations.
Our Group Companies seek to compete freely and fairly.
8. The Community
Our Group Companies, as responsible members of society, positively make contributions to the community. The most important contribution that a company can make to society is in performing its basic activities as effectively as possible.
Our Group Companies recognize that in view of the importance of their activities and their impact on the national economy and individuals, open communication is necessary. To this end, we provide timely and appropriate information to parties with legitimate interests.
In our interactions with customers, employees, business partners and local communities, we seek to listen and respond to them honestly and responsibly.
10. Political Activities
Our Group Companies do not make payments to political parties, organisations or their representatives or take any part in party politics. However, when dealing with governments, we have the right and responsibility to make our position known on any matter which affects us, our customers, our shareholders, our employees or local communities.
Revised on 4 August 2011