Guided by integrity
Covestro manages its businesses in an ethically responsible way and in compliance with the statutory and regulatory requirements of the countries in which it operates.
Corporate compliance means acting with integrity and observing the legal and ethical framework at all times. Our Corporate Compliance Policy forms the framework for acting in accordance with the rules, based on expertise, fairness and reliability.
Our corporate conduct is characterized by a sense of responsibility as well as ethical principles. Covestro’s reputation is a key contributor to our company’s value. Our stakeholders expect us to conduct our business with integrity.
Our compliance principles provide us with the foundation on which the company as well as every single employee is to base their decisions – it defines the boundaries of our behavior as employees.
The Chief Compliance Ofﬁcer is in charge of all compliance activities at Covestro, and in this function reports directly to the Board of Management. A central Compliance department coordinates compliance activities throughout the Covestro Group.
A Compliance Committee chaired by the CFO of Covestro AG meets several times each year. The Compliance Committee is the top-level decision-making body on compliance issues. lt's responsibilities include the following: exercising a Group-wide compliance governance function, initiating and approving compliance-related rules and approving the annual training plan.
A local Compliance Officer has been appointed for each country in which Covestro has employees. This person serves as a local point of contact for employees on all questions regarding legally and ethically correct conduct in business situations. The country organizations also have local compliance committees.
An open ear for everyone
Our Corporate Compliance Policy deﬁnes the principles and rules for our conduct within the company and in relation to our external partners and the general public. ln the interest of identifying violations of internal and external guidelines, Covestro has set up a whistleblowing tool. Employees can internally report potential compliance violations to the Compliance Officer. In addition, Covestro offers the possibility to report such suspected violations or potential human rights violations by our suppliers via phone hotline or web reporting tool (available via intranet).