The Board of Directors of Meggitt PLC (“the Company”) recognises the important responsibility it has to balance the interests of its shareholders, employees, customers, suppliers, and the wider community and recognises that the responsible and sustainable development of our business is very important for its long term success. The Company aims for continuous improvement in financial, social, safety and environmental performance. This Corporate Responsibility 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 other appropriate employees are aware of corporate responsibility matters; and,
- regularly reporting our corporate responsibility performance to our stakeholders.
- 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 in our workforce, including with regard to race and gender;
- 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 education, training and promotion.
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).
- 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.
- Minimising the impact of products and processes on the surrounding environment, by:
- applying the principles and provisions laid out in our Environmental Policy (see our website);
- acting as a responsible supplier to our customers, by:
- operating to internationally recognised standards (e.g. ISO 9001 and ISO 14001); and,
- providing customers with relevant information about our products, including information related to health, safety and environmental risks.
- Encouraging our contractors and suppliers to adopt and implement these principles, by:
- building long term relationships with them;
- disseminating our Corporate Responsibility Policy and all related policies to our contractors and suppliers; 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.
The Board is responsible for implementation and performance of this policy. On a day-to-day basis, the Group Corporate Affairs Director 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 28 July 2016.