Ethics & Supply Chain of the Group

Ethics and Supply Chain

Sustainability with values

Sustainability stands out as a key focus for our company. Bringing together the cultures of Prysmian Group and General Cable, we identified a new code of values and forged a new model to DRIVE the Group and its stakeholders towards the future with TRUST and SIMPLICITY.

The New Prysmian Group Code of Values helps different people working in different situations deal with issues in different parts of the world.

TRUST

Create an environment of trust that exploits diversity and collaboration, where people are empowered to make decisions with integrity.

DRIVE

Lead the industry evolution, combining our ability to develop our people and our business in a clear direction while anticipating customer needs.

SIMPLICITY

Simplify everything we can, focusing on high value-generating activities and timely decisions to boost company results. Focusing on what really matters, with efficiency, agility and responsibility.

At Prysmian, we believe there can be no sustainable value creation without respect for rules and competitors. Business ethics and integrity have a material impact on the value and success of our business, according to feedback from our stakeholders. The Group is therefore committed to a business management model based on the highest standards of ethics and integrity, and on compliance with laws, regulations, policies and procedures regarding the prevention of corruption and anti-competitive practices.

Being smart in compliance is not a matter of ticking boxes. Delivering ethical behavior is part of how we contribute to community development, which is the third pillar of our Sustainability Strategy. Building a strong ethics culture helps strengthen our reputation, stay ahead of our competitors and makes us more agile in responding to new regulatory changes. That is why we have drawn up an Code of Ethics that must be respected by our entire value chain. The principles set out in our Code of Ethics apply to the business transactions and daily activities of all our employees, and also to our suppliers, business partners, sales agents, sub-contractors and distributors.

 After the acquisition of General Cable, Prysmian began a process to align the two companies in terms of structure, working methods, KPIs and indicators, as well as sustainability practices adopted by the Group. Over the course of 2019 the group has taken the necessary steps to include General Cable both in the Sustainability Desk Analysis and in the Risk analysis (part of the due diligence process implemented), with the aim of renewing and, if necessary, revising the objectives of the Sustainability Scorecard in the light of this analysis.

Our Charter

In line with the company’s Mission and Vision, the Code of Ethics is a tool that that establishes the principles everyone working with and in Prysmian must uphold. By defining the guidelines for everyday conduct, the Code of Ethics embodies a strategic role, a fundamental tool in preventing irresponsible or illicit conduct from those working for or with Prysmian.

The Code of Ethics is important to gaining and maintaining long-term confidence of its clients, investors, and stakeholders because it fosters an atmosphere of trust, which is one of our core values. Our Code protects the value of the company over time by creating a positive image in the wider community, making it easier to form durable partnerships, and by avoiding damaging and costly fines and lawsuits.

The Group constantly strengthens relations with strategic suppliers, seeking to build together a common organizational process focused on sustainability throughout the entire production chain.

Three main steps are taken to enhance the sustainability of our supply chain. Suppliers for recurring and strategic materials/services must:

  1. subscribe to the Code of Ethics, acknowledge the Code of Business Conduct and other ethical standards;
  2. are subject to a sustainability assessment (through self-assessment and due diligence process);
  3. are required to implement actions to constantly improve the Sustainability of the overall supply chain.

 

Our improvements programs

Prysmian’s commitment to a sustainable supply chain has resulted in several improvement programs, particularly focused on increasing awareness and attention to detail, starting with raw material sourcing right up to the final delivery to the customer.

Among the impacts we take into consideration (social, ethical and environment), the most significant environmental impact is generated by our suppliers’ production cycle for base metals, from extraction to the production of rod. As part of the vendor management, the Group fully maps and classifies rod suppliers regarding their awareness and dedication to the issue of sustainability, giving preference to the highest sustainability ratings.

Among initiatives to improve the efficiency of the materials supply chain, Prysmian developed an algorithm that optimizes the allocation of requirements among our various suppliers, minimizing the transportation of materials and the related impact on emissions.

When it comes to transport, the Group implemented a series of actions aimed at monitoring – and whenever possible reducing – CO2 emissions deriving from the distribution of products, among which:

  • giving preference to providers with local presence;
  • optimizing the transport of goods by air and by sea;
  • selecting road haulers that seek to implement sustainable policies and actions.

We chose materials for drums for the transport of cables – which can be plastic, wooden or metal at growing diameter -- based on size and length of the cable, and on optimization of logistics flows with a view to reducing the Carbon Footprint, in addition to customer needs. The Group is strongly committed to maximizing the re-utilization of drums and lowering their environmental impact. For example, this involves using wood from replanted forests, recycled plastic and implementing lagging solutions that reduce use of quality materials, while continuing to use recyclable materials.

 

 

Ethics & Integrity

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Supply Chain

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