On 9th December 2003, the United Nations agreed that global corruption has to be stopped and determined the World Day of Anti-Corruption. The primary goal was and still is to identify corruption cases and to strengthen the awareness of corruption.
What is corruption and when do I actually act corruptly?
Transparency International is a global association against corruption and defines corruption as an “abuse of entrusted power for private benefit or advantage”. The briber and the bribed person are doing everything they can to hide their actions. Although not always obvious, this happens to the disadvantage of a third party, which may be a person, group of persons or a company.
Common corruption practices:
- Cash payments and personal gifts
- Entertainment services and the misrepresentation of financial figures etc.
According to the Global Fraud study by Ernst & Young (2016) every third person would not disclose any possible act of corruption to the authorities in order to protect themselves. The Corruption Perceptions Index 2016 lists countries according to the degree of corruption among officials and politicians. Austria scores 17 out of 176 and can be found in the upper (positive) third of the value scale.
What does this mean for PALFINGER?
As a responsible company, we are aware of the duty to handle business transactions fairly. For this reason, PALFINGER sees strict legal compliance as well as the fight against corruption as a major business issue. Our Code of Conduct serves as an entrepreneurial framework in order to strengthen the awareness of corruption and helps to promote PALFINGER’s sustainability area of “Fair Business”. On the company’s website there is the possibility to report legal and regulatory violations via the Integrity Line. This is mainly aimed at employees, suppliers and customers, who want to communicate such incidents anonymously.
Extract of PALFINGER Code of Conduct
Utmost integrity is expected in all business activities and relationships. Any form of corruption, bribery, blackmail, and misappropriation is strictly forbidden and can be reported anonymously via the Integrity Line at www.palfinger.com.
Gifts, hospitality services, invitations
Our ways of doing business and competing are based on quality and know-how. Employees may not allow themselves to be influenced through favors, nor may they use favors to influence others. Employees may only accept hospitality services within the normal extent and token gifts that are appropriate for the circumstances. If there are any doubts the employee shall seek the advice and/or approval of the respective management. No employee may accept the following kinds of gifts from other parties, nor may they offer them to other parties, regardless of the value of the gift: money, loans, provisions or similar advantages in monetary form.