As a participant in the United Nations Global Compact (UNGC), a principles-based framework that drives businesses to adopt sustainable and socially responsible policies, RHI Magnesita is committed to integrating the Ten Principles, which cover such themes as environment, human and labour rights, and anti-corruption, into its business.
The company takes a zero-tolerance approach to incidents of fraud, bribery or corruption in its operations and value chain. Mandatory comprehensive online trainings on topics including business ethics, anti-corruption, data privacy, and sanctions and export controls, and regular monitoring of the completion rates, ensure that all office-based employees are informed and up to date. Key compliance themes consistently feature in internal communication campaigns.
RHI Magnesita regularly conducts compliance risk assessments and presents the results to management and the company’s Audit & Compliance Committee each year. Digital registers, workflows and employee guidelines to address, document and monitor conflicts of interest, declarations, gifts and invitations and community investment approvals have been implemented.
Business partners (e.g. customers, sales intermediaries and suppliers) and transactions such as mergers or acquisitions are subject to a due diligence process which includes checks to ensure compliance with sanctions and export control regulations. All sales agents are certified by TRACE International, a leading anti-bribery standard-setting organisation.
RHI Magnesita is committed to upholding human and labour rights. Eighty two percent of employees belong to unions, are represented by works councils or are subject to collective bargaining agreements. In 2022, the company reviewed itspolicies and launched a new Diversity Charter and online training in diversity and inclusion.
This focus on human and labour rights is now being expanded to include suppliers. The Supplier Code of Conduct, which all suppliers are required to commit to, includes provisions addressing both human and labour rights. The Board of Directors approves an annual statement in accordance with .
Anyone with ethics or compliance concerns is encouraged to report them to an independent, confidential, and anonymous whistle blower hotline. Reports are investigated and follow-up actions are taken if necessary.