We remain committed to achieving the highest standards of corporate governance, so we can retain our trusted to deliver™ reputation and continue to work in long-term partnerships with our customers. In the current economic climate it is more important than ever to demonstrate excellence in our approach to business ethics and internal control.
Our approach to and responsibility for matters relating to corporate responsibility is embedded in our management structures and forms part of our approach to the conduct of business in general. Our Managing Directors are responsible for such matters at a business unit level, reporting to the Chief Executive who manages from a Group perspective and on behalf of the Board. These matters are also addressed in the Executive Committee and through the Safety Leadership Team which are attended by all Business Unit Managing Directors and the Chief Executive. In addition, we now have or will shortly be appointing senior Group managers, reporting to the Chief Executive, responsible for sustainable procurement, carbon reduction and employee training and development.
Ethical conduct
The Board insists that our business is carried out to the highest standards of honesty and integrity. We have a strict ethical policy in place with guidance on business dealings. This policy defines expected behaviours and is formally re-emphasised to senior management each year who formally confirm compliance. All employees are expected to avoid conflicts of interest, to act lawfully and ethically and report any non-compliance issues of which they become aware.
Babcock also subscribes to the Common Industry Standards for European Aerospace and Defence (CIS).
Whistle blowing
At a Group level we have an independently managed ‘whistle blower’ hot line and every employee has been issued with details of how to contact it. Any reported issues are relayed to Group executives within 24 hours. This ensures all employees can anonymously express any concerns that they have about the way the business is being operated.
For profiles of our Board and Executive Committee please see the Management Team