The Board of Directors of Meggitt PLC (“the Company”) believes in conducting business in a manner which achieves sustainable growth for long-term success, whilst demonstrating a high degree of social responsibility. The Board recognises the important responsibility it has to balance the interests of all of its stakeholders, including shareholders, employees, customers, suppliers, and the wider community. The Company aims for continuous improvement in financial, social, safety and environmental performance and for reporting our activities in a transparent manner. This Corporate Responsibility and Sustainability Policy sets out Meggitt’s values relating to the management of social, ethical and environmental matters.
Meggitt is committed to:
Law and governance
- complying with all relevant national and other applicable laws and regulations, and maintaining the highest standards of integrity and honesty in our business conduct;
- integrating social responsibility into our business values and daily operations to meet the expectations of our stakeholders;
- upholding sound corporate governance principles, by:
- confirming its application of the principles of the UK Corporate Governance Code and providing explanations when the Company has not complied with specific code provisions;
- developing and implementing systems to identify and manage significant risks to the Company including matters related to corporate responsibility;
- ensuring Board members and all our employees are aware of corporate responsibility matters; and,
- regularly reporting our corporate responsibility performance to our stakeholders.
- encouraging two-way dialogue with employees through a clear and open system of internal communications;
- protecting the health, safety and welfare of our employees, visitors and contractors;
- applying the principles and provisions laid out in our Health and Safety Policy (see our website);
- upholding our employees’ human rights and supporting the Ten Principles outlined in the United Nations Global Compact, relating to human rights, labour, the environment and anti-corruption;
- ensuring that Meggitt and our employees do not engage in practices such as slavery, human trafficking, forced labour and child labour and do not violate applicable laws and regulations relating to human trafficking and taking all reasonable measures to ensure that our suppliers and other entities acting on our behalf do not engage in practices or violate applicable laws and regulations relating to human trafficking;
- supporting the principle of equal opportunities in employment by encouraging diversity and inclusion in our workforce, including the creation of Employee Resource Groups;providing a work environment that accommodates people with particular needs;
- offering fair levels of remuneration and, where permitted, providing employees with opportunities for share ownership; and
- providing employees with opportunities for development, education, training and promotion.
We aspire to be a leading voice in championing sustainability in the sectors within which we operate. We believe in operating our business in an environmentally responsible manner and responding to the impact of aviation on the planet’s climate.
Our policy is to:
- set clear sustainability objectives for our sites, processes and activities;
- design and manufacture products that enable our customers to reduce their environmental impact;
- raise awareness about sustainability and our approach to it and reporting on progress on achieving targets both internally and externally;
- apply the principles and provisions laid out in our Environmental Policy;
- act as a responsible supplier to our customers, by:
- operating to internationally recognised standards (e.g. ISO 14001); and,
- providing customers with relevant information about our products, including information related to health, safety and environmental risks.
Ethics and business conduct
- encouraging dialogue with employees through a clear and open system of internal communications;
- providing a grievance procedure and a confidential Ethics Line by which employees can raise matters of potential concern; and
- conducting business relationships in an ethical manner, by:
- applying the principles and provisions laid out in our Ethics & Business Conduct Policy, Code of Conduct and Anti-Corruption Policy (see our website).
- Engaging with and supporting communities in which we operate, by:
- providing local employment opportunities;
- encouraging employees to help community organisations and charities;
- providing either financial or in-kind resources to organisations or projects that have a clear community benefit, within agreed financial limits; and
- working with and supporting local schools, colleges, universities and education initiatives for the benefit of our communities, our business and our industry.
We remain committed to maintaining fair working relationships with our suppliers at all times. We engage with our suppliers to build long-term relationships, by:
- holding regular meetings with key suppliers, providing our suppliers with the opportunity to feedback their views to us;
- encouraging our contractors and suppliers to adopt and implement our principles and policies as a minimum;
- carrying out appropriate due diligence on suppliers and third parties; and
- encouraging our contractors and suppliers to adopt recognised standards (e.g. ISO 14001) and the standards we set ourselves in our policies and Code of Conduct.
- Collecting, analysing and publishing corporate responsibility metrics to enable us to continually review, assess and improve operations and its impact on society and the environment, locally and globally; and
- Continuing to carry out Employee Engagement Surveys and measuring results to enable us to improve the culture and work environment for our employees.
The Board is responsible for implementation and performance of this policy, and delegates responsibility to the Corporate Responsibility Committee for oversight. On a day-to-day basis, the Group Company Secretary has functional responsibility on behalf of the Chief Executive, and the divisional presidents and site directors are responsible for local implementation. The Group is committed to providing the necessary support in order to ensure that our sites can fulfil the requirements outlined in this policy. This policy and its implementation is reviewed on a regular basis to ensure that it remains appropriate and relevant to the organisation.
This policy, as updated, will be communicated to those working for or on behalf of the Group.
As approved by the Meggitt PLC Board of Directors on 12 December 2019.