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Ethical Code

This Code of Ethics (hereafter “the Code”) has been drawn up to provide assurance that the fundamental ethical values of Util are clearly defined and form the basic element of the Company’s culture and also to identify the standards of conduct for Directors, Employees and all those (hereafter the “Collaborators”) who in virtue of specific mandates o powers, represent the Company vis-a-vis third parties in the course of their business and  activities.

The Company undertakes to ensure that the principles of this Code are observed also by the customers, suppliers, external collaborators and partners (hereafter the “third parties”) with which the Company maintains business relationships through time.

The Code of Ethics must be interpreted as a “Charter of fundamental rights and obligations” by which the Company states and clarifies its own ethical/social responsibility and commitment towards the various internal and external stakeholders also in the light of the requirements of Legislative decree 231/2001.

This Code of Ethics, approved by the Board of Directors on June 24, 2009 and subsequently updated in 2014 and in 2019, commits the Company’s governing bodies, management, employees, external collaborators, business partners, suppliers and all those who maintain relationships with the Company.

The Code:

  • sets out explicitly the duties and responsibilities of Util towards the stakeholders to ensure that they may find in the Company a due recognition of their expectations;
  • through the enunciation of abstract and general principles and of rules of conduct, makes it possible to identify unethical conduct and to indicate to all employees the correct way of performing duties and of exercising the powers entrusted to them;
  • through the codification of the reference ethical principles and of the basic rules of conduct to which all stakeholders must conform, the Company makes the express declaration of the serious and effective commitment to act as the guarantor of the legality of its own activities, with particular reference to the prevention of illicit conduct;
  • imposing the obligation to observe the principles and rules which it contains, it contributes to the development of an ethical conscience and reinforces the Company’s reputation and the level of trust among the stakeholders.

The code is a fundamental element for the Organizational and control Model adopted for the purposes of Legislative Decree 231/2001 which Util is committed to applying, strengthening and developing continuously.

The Code of Ethics comprises:

  • general dispositions, which define the addressees of the Code, the obligations of the Company and of the Company’s personnel, the role of the Code in relationships with third parties, the contractual force of the Code;
  • company ethical principles, which define the reference values in the activities;
  • norms and standards of conduct, which define guidelines, based on the ethical principles and independently of the prescriptions of the law, which serve to give direction on conduct to all personnel with particular regard to those with responsibility for executive and control duties;
  • the work-place ethic and the safeguarding and development of personnel, which focuses on employees as a fundamental resource for the operation of the business;
  • implementation and control procedures, which describes the mechanisms and functions established to create, monitor and promote compliance with the Code and to ensure its regular updating.

The Code is brought to the attention of all Collaborators and is available on the Company website www.utilgroup.com, from which it can be freely downloaded.

The Util Board of Directors has the power to revise the Code. The process of revision takes account of the contribution of Addressees, as well as of the developments in the legislation and in national and international best practice and the experience acquired in applying the Code itself.

ATTACHMENTS 

Download - Util Industries S.p.A. - Code of Ethics (ENG)
Download - Util Industries S.p.A. - Codice Etico (ITA)