Compliance represents a group-wide principle governing adherence to the law, legislation, as well as internal corporate policies. To avoid any serious consequences of potential compliance violations, GEA manages these risks by means of a compliance management system designed for analysis, information and education, control, process definition as well as monitoring purposes that was revised in the year under review.
The new system was audited in the areas of anti-corruption and antitrust law as at January 1, 2019, in accordance with audit standard IDW PS 980. The audit was certified on January 29, 2019. In addition, there is a certified reporting system (“Business Keeper Monitoring System“, BKMS). The management approach is examined by the group’s internal audit function and external auditors by means of internal and external audits.
In July 2018, GEA’s Executive Board resolved to enact the new “Code of Conduct” as well as Compliance Policies based thereon – including the Integrity Policy, the Third-Party Policy as well as the Competition Policy. The Code of Conduct supersedes the former “Business Conduct Policy”. The corresponding provisions entered into force throughout the group on January 1, 2019. The above policies govern the fight against corruption and money-laundering, conflicts of interest as well as antitrust and competition law at GEA. They are available to all employees worldwide in 17 different languages.
A professional integrity system is an effective tool for ensuring and monitoring compliance with the principles of social responsibility and compliance rules. Since 2014, GEA has offered its employees and third parties the certified Business Keeper Monitoring System (BKMS), a secure portal that may be used for reporting such violations.
The “Code of Corporate Responsibility” gives form to the company’s values and contains the basic rules for their implementation. In these, GEA commits uncompromisingly to respecting human rights, to fair business practices and to the protection of the environment.
Anyone who registers with GEA as a supplier must commit themselves to the company’s “Code of Conduct for Suppliers and Subcontractors." The code sets forth the basic principles and requirements that are to be met by all suppliers of goods and services, their subcontractors as well as the group entities of the suppliers and subcontractors with regard to their responsibility towards society, the environment and the individuals involved in the production of goods and the provision of services.