Ethics and Integrity
Ethics and integrity are essential aspects to develop a society or company solid and consistently. It is an issue that permeates all sectors of society, where poor management can be detrimental to economic and socio-environmental sustainability, while good management of ethics in business and relationships adds and generates value, such as the establishment of a harmonious environment that promotes the development of employees.
For a globalized company like WEG, in addition to internal management, this subject involves the company’s relations with different stakeholders in diferente countries and cultures around the world.
In this context, the establishment of a robust system that is constantly improved in terms of policies, tools and actions is essential to avoid related risks and to maintain continuous and sustainable growth.
Therefore, we use and continuously improve a compliance system, which has specific policies and guidelines, risk mapping and prevention, a reporting system, independence of the area in charge, continuous training of employees in general, and training focused on strategic areas.
Corporate Policies and Guidelines
We established specific policies aimed at certain topics involving ethical issues.
These policies establish guidelines for each subject to make it clear what we expect and the positioning for each issue, namely:
CODE OF ETHICS PREVENTION AND FIGHT AGAINST CORRUPTION AND OTHER DETRIMENTAL ACTS SOCIAL RESPONSIBILTY PRIVACY MARKETING
Among the goals that compose the SDG 16, WEG’s practices are aligned to meet the goals:
Risk Management
Within our Corporate Risk Management System and its categories, we can identify risks related to ethics and integrity. Such identification is essential for the monitoring and ocasional mitigation plans for potential risks.
The system is assessed globally and has the following risk categories: Strategic, Financial, People, Compliance & Governance and Processes.
TRAINING IN THE POLICY TO FIGHT COR - RUPTION AND OTHER DETRIMENTAL ACTS FOR STRATEGIC AREAS
WEG provides regular training for all administrators, members of the Audit Committee, managers and employees who can act on behalf of and authorized by WEG. At the end, they sign the notice of acknowledgment of this policy. The training is global in scope and carried out in Portuguese, Spanish and English.
TRAINING OF NEW EMPLOYEES IN THE CODE OF ETHICS
When new employees are hired, they are trained in the topics covered by the Code of Ethics, which addresses human rights, so that the Code is accessible and clearly understood by all employees. After the training, the new employee receives a copy of the Code of Ethics and signs the acknowledgement of receipt and term of commitment to the Code of Ethics.
Whenever updated, the Code is presented to all employees, who must sign the term of commitment again. WEG seeks to make its employees aware of the importance of the subjects that compose the Code by means of internal communication actions.
Reporting management system
In order to report violations of the Code of Ethics and other policies, we provide different communication channels globally, namely:
The provided information is kept confidential, except for situations in which WEG has the legal obligation to inform the authorities. The cases that are not included in the document are discussed by the Code of Ethics Management Commission together with the Human Resources Direction, which is responsible for this management tool.
REPORTING STORY
