In the first decade of the 21st century, there have been substantial changes in the areas of corporate governance, risk and compliance.
These changes have been driven by events in global financial markets, globalisation of markets and a new era of corporate responsibility. It is an era that demands accountability and transparency from business, and particularly from multinational business corporations.
This context demands that a rigorous and disciplined compliance process supports and sustains the corporate governance and risk management systems and structures that direct the business activities.
Barloworld is driven by the maxim of creating sustainable value for all its stakeholders. What sets us apart is our ability to develop and maintain mutually beneficial long-term business relationships. Our aspirations for the future, our high ethical standards and our commitment to leadership and excellence determine the Barloworld way of doing business.
The Barloworld group is committed to responsible business conduct and best practices. All group activities are guided by the governance framework of ethics, codes of conduct, policies and commitment to legal compliance.
Worldwide Code of Conduct
While we conduct our business within the framework of laws and regulations, compliance with the law is not enough for Barloworld. We strive for more. Through our Code of Conduct we envision a work environment in which all can take pride, a company others respect and admire and a world made better by our actions. Together, we are upholding the reputation of our great company – and strengthening it for tomorrow.
A message from our Chief Executive
I hold myself accountable to the standards defined in this Code of Conduct. I ask that each and every one of you joins me in this commitment. These values are meaningful to each of us individually and to all of us collectively. They express what we consider to be the right way to do business, the Barloworld way of doing business.
Barloworld is an exceptional organisation because our people work together to make the ordinary extraordinary.
The foundation of our success is the high standards we set for ourselves and our philosophy of multi-stakeholder value creation. We are proud of our reputation for integrity and excellence and the high ethical standards to which we hold ourselves accountable.
We continue to build on that foundation and accept willingly the responsibility to protect the legacy of the past, generate excellent performance today and build a future that is sustainable. We are inspired to make a positive contribution towards creating a better world, not only for our stakeholders but also for future generations.
Our aspirations for the future, our high ethical standards and our commitment to leadership and excellence determine the Barloworld way of doing business.
The Barloworld Worldwide Code of Conduct determines how those aspirations and values are translated into actions and behaviours. Our choices today are reflected in our actions; our actions determine our performance; and our performance is the measure against which we will be judged.
The Code of Conduct reminds us of the standards to which we hold ourselves accountable and to respect the needs of all our stakeholders. It is an expression of our commitment to doing business the right way, according to best practices, guided by our values of Integrity, Excellence, Teamwork, Commitment and Sustainability.
In today’s fast-moving and challenging times we are sometimes faced with complex situations and multiple options. I urge you to be guided by the Code of Conduct, to consult with others, share your thoughts and critically assess the alternatives. The right answer is not always immediately clear and it takes courage and wisdom to make the right decision. Our values will guide your thinking and actions.
It is the diversity and uniqueness of our people across many regions of the world that make this company special. The people of Barloworld have created the success of our business; and it is the dreams and aspirations of our people that will build on that success and take us forward into the future.
I am extremely proud and honoured to be part of this extraordinary company and I look forward with confidence to the future knowing that we are all accountable to the Barloworld way of doing business.
Living by the Code & reporting ethical issues
Integrity. Excellence. Teamwork. Commitment. Sustainability.
The words in this Code of Conduct define us. Despite our differences – in geography, culture, language and business – we are one Barloworld, one company united by these common principles and a shared commitment to the highest standards of conduct.
While we conduct our business within the framework of applicable laws and regulations, for us, compliance with the law is not enough. We strive for more than that. Through our Code of Conduct, we envision a work environment all can take pride in, a company others respect and admire, and a world made better by our actions. Together, we are laying the foundation for the values-based culture that will carry us forward to even higher levels of success. Together, we are upholding the reputation of our great company – and strengthening it for tomorrow.
This Code of Conduct applies to the daily activities of employees of Barloworld, its subsidiaries and joint ventures worldwide, and members of the board of directors of Barloworld Limited. Each of us is personally responsible to read the Code of Conduct, understand what it means and apply it consistently. Those in our company who lead others hold a special position of responsibility to set the example of what it means to “live by the code”.
REPORTING ETHICAL ISSUES
If you become aware of a circumstance or action that violates, or appears to violate, the Code of Conduct, Barloworld policy or applicable law, contact your supervisor or local management as soon as possible.
If you are not able to get an answer to a question, or resolve an issue, under the Code of Conduct by working with your supervisor or local management, you can contact the Barloworld Ethics Line. This is an independent and confidential system by which employees or others can report unethical behaviour that affects the Barloworld group.
- Free Call: 0800 003248
- Free Fax: 0800 007 788
- SMS: 32840
Outside South Africa:
- Tel: +27 31 571 5633
- Fax: +27 31 560 7395
- E-mail: email@example.com
- Website: www.tip-offs.com
Barloworld will not penalise you as a result of raising an ethical issue in good faith. Also, Barloworld does not tolerate any reprisal by any individual against an employee for raising a concern or making a report in good faith.
Ethics and compliance framework
Our programme is based on the King lll Report which recommends a hybrid approach to corporate governance by applying both regulatory and voluntary standards.The purpose of this framework is to:
- meet regulatory requirements
- apply global best practices
- identify potential high risk areas
- define standards for all group companies
- establish accountability for compliance, and
- provide clear documentary evidence
Codes of practice
Barloworld is committed to upholding international standards and codes of best practice.To achieve this, we:
- qualify for inclusion on the FTSE/JSE Responsible Investment Index,
- respond to the international Investor Carbon Disclosure Project (CDP)
- obtain third-party assurance for material non-financial information.
- Barloworld’s stakeholder-based governance system is in line with the The King IV report on corporate governance for South Africa (King IV). We also apply the Global Reporting Initiative (GRI) Standards to align ourselves with global reporting practices.