The Group's business model, with a global presence in over 50 countries and a diverse product portfolio, is based on a complex supply chain that requires a continuous interface with numerous suppliers of different sizes and cultural backgrounds. Prysmian works to improve the supply chain in order to benefit our sustainability strategy by taking steps that involve specific business ethics, respect for people along the entire supply chain, and diminishing our environmental impact. Feedback from stakeholders shows they believe a sustainable supply chain has a material impact on Prysmian’s business and value.
Prysmian’s continuous efforts in improving the supply chain benefits all material aspects of our sustainability strategy. It involves specific business ethics, respect for people along the entire supply chain, and holds the potential of diminishing our environmental impact as well as increasing the efficiency of our business.
At Prysmian, we believe there can be no sustainable value creation without respect for rules and competitors. Business ethics and integrity have a material impact on the value and success of our business, according to feedback from our stakeholders. The Group is therefore committed to a business management model based on the highest standards of ethics and integrity, and on compliance with laws, regulations, policies and procedures regarding the prevention of corruption and anti-competitive practices.
Being smart in compliance is not a matter of ticking boxes. Delivering ethical behavior is part of how we contribute to community development, which is the third pillar of our Sustainability Strategy. Building a strong ethics culture helps strengthen our reputation, stay ahead of our competitors and makes us more agile in responding to new regulatory changes. That is why we have drawn up an Code of Ethics that must be respected by our entire value chain. The principles set out in our Code of Ethics apply to the business transactions and daily activities of all our employees, and also to our suppliers, business partners, sales agents, sub-contractors and distributors.
After the acquisition of General Cable, Prysmian began a process to align the two companies in terms of structure, working methods, KPIs and indicators, as well as sustainability practices adopted by the Group. Over the course of 2019 the group has taken the necessary steps to include General Cable both in the Sustainability Desk Analysis and in the Risk analysis (part of the due diligence process implemented), with the aim of renewing and, if necessary, revising the objectives of the Sustainability Scorecard in the light of this analysis.
Sustainability stands out as a key focus for our company. Bringing together the cultures of Prysmian
Group and General Cable, we identified a new code of values and forged a new model to DRIVE the Group and its stakeholders towards the future with TRUST and SIMPLICITY.
The New Prysmian Group Code of Values helps different people working in different situations deal with issues in different parts of the world.