Ethics and governance
We understand that our reputation and good name are amongst our greatest assets, which could easily be lost by actual or suspected corrupt or unethical behaviour. To protect the Company and reduce these risks we have set out a policy on how we should conduct business, which we summarise in the form of the Babcock Code of Conduct. Compliance with this policy is compulsory for our employees, business advisers and business partners (or, in the case of business advisers and partners, they must have equivalent standards and procedures in their own businesses). The policy comprises a detailed manual, available on the Group’s intranet, that contains guidelines, authorisation and other procedures aimed at identifying and reducing corruption and ethical risks. The controls that we have in place form an integral part of our risk management arrangements and include the training of employees and availability of whistleblowing hotlines.
As an international business we recognise our responsibility for upholding and protecting the human rights of our employees and other individuals with whom we deal in our operations across the world. We welcome the opportunity we have to contribute positively to global efforts to ensure that human rights are understood and observed. We believe that a culture of respect for, and promotion of, human rights is embedded throughout our business and can be demonstrated by our commitment to ethical conduct in everything we do.
Our Group wide goal is that everybody goes home safe every day. To achieve this, we invest in safety, providing suitable resources, training and time with priority given to addressing behavioural and cultural attitudes.
We recognise that the work environment is constantly changing so we regularly review how we work to ensure it is the safest it can be.
Sector safety leadership teams and the Group Safety Steering Group oversee implementation of policy, strategy and initiatives across all of our businesses.
The Group Executive Committee reviews monthly commentary and performance reports and the Board receives half yearly commentary and performance reports for discussion.
Managing environmental impacts
Our commitment to reducing the harmful environmental impact of what we do continues. We seek to apply our engineering acumen to use resources more efficiently throughout our operations.
The Company has held the Carbon Trust Standard certification continuously since 2010, reducing our CO2 emissions against the metric of tonnes CO2 per £m turnover. We seek opportunities for energy savings and efficiencies across the business and examples of what has been achieved are published in the Annual Report (for 2016/17 see the Sustainability sections of the operational reviews on pages 38 to 57).
Download the Environment & Ethics section of the Annual Report for further detail.
The Babcock approach to Ethical compliance
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