Codes and Practices
We take a stakeholder approach to doing business in a sustainable way, led by our core values, standards of business conduct and related policies (collectively, the ‘COBC’). Our COBC covers a wide range of policies and principles, including conflicts of interest, gifts and courtesies, anti-corruption, anti-bribery, fair competition (anti-trust), positive work environment (anti-discrimination and anti-harassment), health and safety, and environmental compliance.
The Board annually reviews and approves changes to policies.
Modern Slavery Statement
Across our business – particularly in safety, ethics and compliance, and diversity – we’re continuing to improve our policies and processes. Our COBC enables us to promote ethical practices and compliance, protect the people we employ, support the communities we work in and reduce our impact on the environment.
Non-Financial Information Statement
Under the Non-Financial Reporting Requirements of the Companies Act 2006, we’re required to disclose additional non‑financial information in certain categories. The table below highlights how we have met the requirements, and where to locate the information in the latest Annual Report.
We use non-financial information in all aspects of our business – from developing our business model and strategy to reviewing and measuring principal risks and the performance of the business. Our key non-financial performance indicator is customer satisfaction (PPM), which measures our product quality and, indirectly, customer satisfaction.
Our business strategy places a focus on developing and supplying leading technology products to help our customers make more environmentally-friendly vehicles. In addition, our own impact on the environment, including our greenhouse gas emissions, is being measured and reduction initiatives are underway. We also seek to ensure responsible sourcing through our Global Supplier Requirements Manual as well as our purchasing terms and conditions, which can be found on our website.
We value our workforce. We are strongly committed to the engagement, development and recognition of our employees and seek to provide a positive culture together with an inclusive work environment. We have programmes to protect their health and safety.
Business Model: Employee skills and motivation
Principal risks and uncertainties: Succession of key personnel
Employment policies, culture, diversity and employee engagement
Health and safety programmes
Talent in the workforce
Business Practices and Social Matters
The Group continues to develop and strengthen its culture of compliance and has articulated to all employees that each employee is expected to conduct business in an ethical and legal manner consistent with our Core Values and in strict accordance with our Code of Business Conduct (COBC). The Group conducts regular training on our COBC which includes elements related to anti-trust and anti-bribery (including the UK Bribery Act). We take the protection of human rights seriously and have zero tolerance for the use of slave and child labour. We also seek to make a positive impact in the many local communities where we operate through local charitable and outreach activities.
Details of the Group’s Tax Strategy as well as our policy regarding Slavery and Human Trafficking can be found on our website