ETHICS
VALUES AND CODE
OF ETHICS
We work tirelessly to drive business growth and remain a reliable partner. What we achieve is important, but what matters most is how we achieve it.
VESCO Group strives to comply with the best international practices in business ethics and compliance.
The Group’s sustainable management system encompasses codes, policies, and measures designed to safeguard the interests of its stakeholders.
Operating ethically and responsibly is fundamental to our purpose, our strategy, and our commitment to building strong, mutually beneficial, and trusting relationships with key partners.
CODE OF ETHICS
Our Code of Ethics serves as our primary framework for ensuring integrity and sound judgment in the workplace.
It defines the values and standards of conduct that our employees, contractors, suppliers, and partners acting on our behalf are expected to uphold.
General rules and principles of our business conduct
- Daily operations.
We base our activities on the principles of compliance with the legislation of the countries in which VESCO Group operates. - Equality in labor relations.
We comply with the labor laws of all countries where VESCO Group operates and foster relationships with employees based on respect for human rights, protection of personal dignity, and the creation of equal opportunities for all. - Occupational health and safety
We take all possible measures to ensure the safety and security of our employees. - Avoiding conflicts of interest.
We actively counteract conflicts of interest to ensure that employees’ personal interests never affect their objectivity in fulfilling job responsibilities. - Anti-fraud.
We do not tolerate theft or the unlawful acquisition of VESCO Group’s property through deception or abuse of trust. - Prevention of corruption.
Employees must not promise, offer, or provide money, property, assets, or services to civil servants or related parties in order to obtain or retain benefits for VESCO Group. - Use and protection of resources.
We encourage you to take care of VESCO Group’s resources and use them efficiently. - Business hospitality.
Employees are prohibited from giving or accepting business gifts or hospitality that exceed the limits established by the laws of the countries in which the VESCO Group operates.
- Relationships with counterparties. Our relationships with counterparties and partners are built on the principles of honesty, integrity, legality, and economic feasibility.
- Relations with public authorities. Our dialogue and relationships with local communities, public organizations, and government bodies are built on the principles of openness, partnership, and cooperation.
- Information security. We prioritize information security, respect the right to confidentiality of every employee and counterparty, and ensure compliance with information protection laws in all countries where the VESCO Group operates.
- Reliable accounting and reporting. We ensure that our financial accounting and reporting comply fully with the laws of the countries in which the VESCO Group operates, as well as with International Financial Reporting Standards (IFRS). VESCO Group promptly halts any attempts at fraud or manipulation of its financial information.
- Prevention of money laundering and terrorist financing. We comply with the laws of all countries in which the VESCO Group operates, ensuring strict adherence to regulations that combat money laundering and terrorist financing.
- Political and religious activities Employees are prohibited from engaging in political or religious propaganda while performing their duties or being on VESCO Group premises, in order to comply with safety regulations, ensure smooth operations, and maintain the quality of work and products.
- Environment. We strive to prevent and minimize adverse environmental impacts at all stages of the production process.
- Relationships with counterparties.
Our relationships with counterparties and partners are built on the principles of honesty, integrity, legality, and economic feasibility. - Relations with public authorities.
Our dialogue and relationships with local communities, public organizations, and government bodies are built on the principles of openness, partnership, and cooperation. - Information security.
We prioritize information security, respect the right to confidentiality of every employee and counterparty, and ensure compliance with information protection laws in all countries where the VESCO Group operates. - Reliable accounting and reporting.
We ensure that our financial accounting and reporting comply fully with the laws of the countries in which the VESCO Group operates, as well as with International Financial Reporting Standards (IFRS). VESCO Group promptly halts any attempts at fraud or manipulation of its financial information. - Prevention of money laundering and terrorist financing.
We comply with the laws of all countries in which the VESCO Group operates, ensuring strict adherence to regulations that combat money laundering and terrorist financing. - Political and religious activities
Employees are prohibited from engaging in political or religious propaganda while performing their duties or being on VESCO Group premises, in order to comply with safety regulations, ensure smooth operations, and maintain the quality of work and products. - Environment.
We strive to prevent and minimize adverse environmental impacts at all stages of the production process.
ANTI-CORRUPTION POLICY
Categorical rejection of bribery and prevention of corruption are among the key business principles and values of VESCO Group. The Group’s Anti-Corruption Policy provides a detailed description of their significance to us.
A key provision of the policy is the ongoing development of an effective system to prevent corruption risks, conflicts of interest, and unlawful gains. All employees, officials, and managers of VESCO Group adhere to a strict zero-tolerance position for all forms of corruption in their interactions and legal relations with business partners, intermediaries, officials, politically significant persons (PEP), and state and local government bodies.
How we manage the risks of violating anti-corruption legislation
- In accordance with our mandatory minimum requirements for effective risk management, anti-corruption risks should be identified and evaluated in each VESCO Group company. If the risks are significant, we require the introduction of critical controls and periodic review of their effectiveness.
- We employ a risk assessment system to evaluate our business partners, customers, suppliers, and contractors, and conduct due diligence to ensure compliance with other contractual requirements.
- VESCO Group communicates its compliance standards on corruption, bribery, and extortion to business partners through its Code of Ethics and binding contractual obligations.
- We train all employees (both full-time and part-time) in our Code of Ethics.
- VESCO Group actively promotes the reporting of Code of Ethics violations and strictly prohibits any retaliatory or discriminatory actions against individuals who report concerns or assist in investigations. All reports of business conduct violations are treated with full confidentiality.
- We train all employees (both full-time and part-time) in our Code of Ethics.
- VESCO Group actively promotes the reporting of Code of Ethics violations and strictly prohibits any retaliatory or discriminatory actions against individuals who report concerns or assist in investigations. All reports of business conduct violations are treated with full confidentiality.
WHISTLEBLOWING HOTLINE
We operate a WHISTLEBLOWING HOTLINE for increasing transparency and responsibility.
The WHISTLEBLOWING HOTLINE serves as a confidential feedback channel for employees and partners to report violations of law, non-compliance with corporate ethics, or other inappropriate actions, ensuring transparency in achieving common goals.
EU countries
EU countries
