Schneider Electric South Africa awarded for anti-corruption programme
The Certification Committee of ETHIC Intelligence, a leading international certification agency specialising in anti-corruption compliance programmes, has awarded Schneider Electric South Africa and Conlog, a Schneider Electric subsidiary, an Anti-corruption Compliance System Certification for its programme to prevent corruption.
The main conclusions drawn during May 2014, following an on-site ethics audit in February of that year by leading inspection, verification, testing and certification company, SGS, at both the energy specialist’s head office in Midrand and at Conlog in Durban, revealed that Schneider Electric’s compliance policy and governance model is well designed, formulated in a coherent manner and corresponds to international best practices.
The Schneider Electric Responsibility & Ethics Dynamics Programme, a fundamental of the governance model, is in itself proclaimed a best practice. The programme provides a common reference, a connected organisation and shared processes and tools as a support structure for employees to comply with the global organisation’s “Principles of Responsibility”. These principles are based on the major values to which Schneider Electric worldwide subscribes: Global Compact, Organisation for Economic Cooperation and Development, Human Rights, and the International Labour Organisation.
Although both Conlog and Schneider Electric are private companies, they have strong local and international board representation, which includes executive and non-executive directors, who lay the foundation for fundamental ethic intelligence. The board appoints the social and ethics committee, which is responsible for managing, monitoring and mobilising commitment to corporate governance in the company.
According to Eric Legér, country president for Schneider Electric in Southern Africa, the local governance model is formulated into an all-encompassing governance framework, incorporating both qualitative and quantitative governance. “The model’s qualitative governance consists of three main elements: intellectual honesty supported by the King III code on corporate governance, Schneider Electric’s Principles of Responsibility (PoRs), and the fundamentals of ethical business practice,” he says.
The model’s quantitative governance comprises of four interdependent parts: International Financial Reporting Standards (IFRS); Key Internal Controls (KICs); legislation; and company policies and procedures. Schneider Electric South Africa and Conlog stress the holistic interdependence of the qualitative and quantitative elements in its corporate governance model.
“Schneider Electric South Africa has a zero tolerance approach to unethical behaviour, and the company views its governance model as a winning approach for improving business conduct, leading to better growth opportunities in Africa and greater employee productivity. So far it has proven to be invaluable, and we are pleased to have now been officially awarded for our efforts,” adds Legér. “Schneider Electric insists on the importance of responsibility and its place at the core of our corporate governance.”