![]()
|
MYTILINEOS GROUP
SUSTAINABILITY REPORT 2011
48
Compliance with the applicable laws and anticompetitive behaviour
A core commitment and principal of the corporate philosophy of MYTILINEOS Group, in all the markets where the Group operates and in full alignment with its
professional and ethical conduct framework, is to avoid all unfair associations with potential competitors which may lead to anticompetitive behaviour conduct
or practices. The Group to this day has never been the subject of any petitions to the Courts under Greek or international law for anticompetitive behaviour or for
practices leading to the creation of trusts or monopolies, and no monetary sanctions have been imposed on its companies for non-compliance of its companies
with the relevant applicable laws and regulations.
Anti-corruption practices
Corruption undermines the moral environment of businesses and has a broad range of negative effects: it can cause violations of Human Rights and adverse
impacts on the environment; it distorts competition; and it impedes the distribution of wealth and economic development. In general, it is a major hindrance to
sustainable development, with a disproportionate impact on poor communities, and is corrosive on the very fabric of society. For MYTILINEOS Group, the two
key references for its efforts to develop transparency are: its corporate value which makes reference to the Principle of Integrity in all transactions; and Principle
10 of the UN Global Compact, according to which “Businesses should work against corruption in all its forms, including extortion and bribery.” Although the
Group has not yet established a specific and stable organisational structure for Risk Management, it has nevertheless taken steps – through its Internal Control
system – to evaluate and improve the risk management and internal audit systems, and to ascertain their compliance with the policies and procedures already
in place, as these are defined in the Group’s Internal Rules of Operation and in the applicable laws and regulatory provisions. With regard to the above, no reports
have made of conditions giving rise to incidents of corruption in the Group Companies, nor have such conditions been identified in the Group Companies. As a
result, the Group did not yet have cause to take concerted preventive action against corruption, such as for example to provide training to the personnel of its
companies or to formally audit its business units for the existence of conditions which may give rise to incidents of corruption or extortion.
Participation in public policy development
The promotion of RES investments in Greece is a contractual obligation of the country in line with the EU target of a RES penetration of 20% in final electricity
consumption by 2020. In addition, the deregulation of the domestic electricity market will result in significant benefits for the national economy, for the
environment and for consumers. MYTILINEOS Group participates actively and consistently, through its subsidiary PROTERGIA S.A., in public consultations
on specific Bills and on draft decisions and regulations which concern the Energy sector and affect directly its business activities. The Group is also an active
particapant in conferences and scientific workshops on subjects related to its production activities.
The following are indicative of the Group’s initiatives in this domain:
- The Group focuses on the promotion of RES investments in Greece through the participation of PROTERGIA S.A. in the Greek Association of RES Electricity
Producers (GAREP) and in the Hellenic Wind Energy Association (HWEA). Mr Benroubi, Executive Director and General Manager of PROTERGIA S.A., is a member
of the Board of Directors of GAREP.
- The Group also focuses on the promotion of deregulation in the domestic electricity market, through the participation of PROTERGIA S.A. in the Hellenic
Association of Independent Power Producers (HAIPP). Mr Benroubi, Executive Director and General Manager of PROTERGIA S.A., is a member of the Board
of Directors of HAIPP.
- Through the active participation of PROTERGIA S.A. in the Institute of Energy for Southeast Europe (IENE), the Group also contributes to the development of
positions and recommendations and to lobbying on energy-related issues in the wider region of SE Europe.
MYTILINEOS Group
