Ethics

Globalisation continues to draw governments, business, civil society and individual citizens into tighter interconnectedness and interdependence. As a result a company’s actions and its interaction with its stakeholders, both internal and external, are potentially more significant than ever before. AECI is no exception and the need to balance diverse stakeholders’ needs shapes the way the Group conducts its business. In an environment of increasingly empowered communities and individuals, social activism and a trust deficit, transparency and accountability are non-negotiable.

ETHICAL BUSINESS CONDUCT

TRANSPARENCY

Governments, business, civil society and individual citizens are highly interconnected and interdependent. As a result a company’s actions and its interaction with its stakeholders, both internal and external, are potentially more significant than ever before. AECI is no exception and the need to balance diverse stakeholders’ expectations shapes the way the Group conducts its business. In an environment of increasingly empowered communities and individuals, social activism and a trust deficit, transparency and accountability are non-negotiable.

An ethical culture is key to driving long-term business value and stakeholders’ support of businesses. To embed such a culture more strongly, training on AECI’s Code of Ethics and Business Conduct (“the Code”) continued across the Group.

ETHICAL RISKS IDENTIFIED AND WHISTLE-BLOWING

Owing to the difficult prevailing economic climate, the Board is mindful that ethics-related risks like conflict of interests, bribery and corruption should remain focus areas. The Group’s ethical risk mitigation processes include a whistle-blowing service, management reports and the like. Education and communication relevant to these risks are a cornerstone of preventative processes.

The whistle-blowing service, Tip-offs Anonymous, continues to serve as a primary tool utilised by employees in diverse countries of operation to register concerns regarding non-compliance with policies, fraud and other matters relating to acceptable business conduct. In 2016, the reports received were investigated by Internal Audit and shared with the Board. Corrective measures included retraining on the principles and requirements of the Code of Ethics, and disciplinary action was taken where necessary.

On an annual basis, as required by the Code, Group employees who have outside interests are required to declare them. Employees are also encouraged to declare any gifts that they may have accepted or given, further underpinning the Group’s ethos of doing business ethically.


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