The Group's procedures and policies constitute a solid benchmark of ethical business management for all employees and stakeholders.
The principles we apply are outlined in our Code of Ethics, and these are binding for all Feralpi directors and employees, and any person or organisation working with one or more of our companies.
Some of the Code's fundamental principles concern:
In Italy and Germany we have a governance model containing a set of principles and rules that aim to guarantee transparency and integrity for anyone working within, or on behalf of, the Group.
A governance model has been drawn up for the Group's Italian division and adopted by each company, with the exception of Ecoeternit due to it being smaller (its completion is underway).
The model also enables the company to intervene promptly to prevent and tackle offences being committed, thanks to ongoing monitoring and close supervision of business areas at risk.
With regard to the organisations operating in Germany, the Company refers to national legislation (Betriebsverfassungsgesetz- BetrVG) defining the right to joint decision-making with the establishment of a Factory Committee (Betriebsrat).
The governance model is based on agreement, with employees and unions collaborating while simultaneously exerting a form of control, in terms of information, consultation and veto, albeit to a lesser degree with respect to upper management.
The model ensures that business operations and company activities are carried out with transparency and integrity, by spreading a culture of prevention and a sense of responsibility, and preventing illegal conduct and corporate crime as set out in reference standards for areas of risk that are considered sensitive.
Feralpi Holding Supervisory Body
The Board of Directors currently plays a central role in the risk management system, in terms of policy-making, evaluation of the process and of the systems in place, and is supported by all the risk owners in the main corporate functions, each according to their respective competencies.
Following the Group risk assessment process launched in 2020, we are working on the definition of a structured risk management system at Group level, comprising tools, organisational structures, standards and strategic company rules that are essential for correct management of the company in the long term.
The set of company procedures and policies that Feralpi now has at its disposal are a point of reference for all employees and stakeholders in terms of business management and related risks.
Risks are events, actions or lack of actions that may directly or indirectly impact the achievement of Feralpi objectives. In addition to risks of an economic, commercial and financial nature - reported in our Annual Report - business activities involve social and environmental risks of a different nature, for which please refer to the webpage “Financial Statements and Non-Financial Reports”.