Corporate governance refers to the rules and practices that govern the relationships between a company’s managers, shareholders and employees, as well as those to the customers, business partners, institutions and communities it is in contact with.
Good corporate governance ensures fairness, transparency and responsibility and has a direct influence on our reputation. Safeguarding it is a high priority for us, hence our holding company Marquard & Bahls has developed various guidelines and procedures to support the corporate governance and prevent non-compliant actions.
They include our Code of Conduct, as well as the Concerns and Reporting Platform – “CARE Platform” –, along with the internal whistleblowing system of the Code of Conduct Team. Marquard & Bahls established an independent Compliance Department, whose task it is to identify compliance risks, develop appropriate compliance programs, and support implementation through practical measures such as training. The focus is on prevention of corruption and bribery, competition law and sanction-related topics.
Our Code of Conduct is based on 16 principles, which are divided into four chapters: Business & Finance, Safeguarding, Integrity and People. They provide a uniform set of values, along with guidance for how individuals are expected to behave in the context of the companies’ philosophy. The Code of Conduct has been translated into 20 languages and distributed to all our employees.