Anti-corruption is one of the ten fundamental principles of the UN Global Compact that Kordsa signed in 2014. We keep an equal distance to all public agencies and institutions, administrative bodies, non-governmental organizations and political parties, without expecting any benefits, and realize our obligations with this responsibility in mind while carrying out all our operations and transactions.
We comply with Article 3.5.2 of the Corporate Governance Principles that stipulates, “Corporation shall be sensitive to its social responsibilities and comply with the regulations and ethical rules with regard to the environment, consumers, and public health. Corporation shall support, and respect internationally recognized human rights. Corporation shall fight against any kind of corruption including bribery.”
We published Kordsa Anti-Corruption and Anti-Bribery Policy, which is based on Turkish law, in 2015. The policy also covers our business partners including sub-contractors, consultants and lawyers. Our policy is communicated through our web site to all suppliers and other third parties we do business with.
Communication and trainings on anti-corruption in Kordsa cover all our employees in line with our Code of Business Ethics. Ethics Committee and Internal Audit functions monitor cases on anti- corruption, whistleblowing being also in charge of sanctions and reports to Sabancı Holding Ethics Committee.
Our measurement and monitoring mechanisms are Ethics Hotline and Internal Audit Department, Audit Committee and audits of Sabancı Holding. If a notification is made regarding corruption and/or bribery and the case is filed, Internal Audit Department reports the case to Audit Committee separately. Nevertheless, there’s no specific section regarding corruption and/or bribery in ethics reporting.
Prohibition of facilitation payments are clearly banned on clause 6.4. of our policy. Our employees cannot engage in any business relationship with family members, acquaintances or third persons that would result in mutual or unilateral benefits. They cannot earn or enable others to earn any money by engaging in trade, including trading securities on the stock exchange, using insider information. The rules mandate that employees cannot manage an enterprise, neither directly nor indirectly, and that they cannot work for a third person and/or organization during or outside of working hours in return for a certain fee or comparable gain.
In the reporting period, there were not any confirmed corruption or bribery cases concerning our operations; any cases where an employee was dismissed or given a disciplinary penalty on charges of corruption; any contract with business partners that was terminated or failed to be renewed due to violations related to corruption; or any public lawsuit opened against our company or our employees because of corruption.