CORPORATION CODE OF ETHICS
ARTICLE 1: CORPORATION VALUES
Controlling and organizing the rules of conduct and code of ethics in SABIC can be achieved by encouraging the following values:
- Inspire our employees by empowering them with a clear and common understanding of the ethical boundaries in which we must operate.
- Engage our diverse workforce by ensuring that we maintain a respectful and welcoming work environment.
- Create a sustainable compliance and integrity framework to support innovation in products, processes and solutions in a highly regulated world.
- Deliver growth by earning the trust of our employees, customers and business partners that we will always conduct business with uncompromising integrity.
ARTICLE 2: RULES OF CONDUCT AND CODE OF ETHICS
The code of ethics comprise the rules of conduct to be followed by all SABIC employees daily, in all transactions and in every work location. In a situation with concerns or doubts about failure to abide by the code of ethics, the Corporation works on inspiring and creating the culture of immediate reporting such concerns to proper authorities via several channels such as line manager, Human Resources, Legal Affairs and helpdesk phone for technical support for handling legal and regulatory violations. The Corporation focuses on the fact that it shall not take any penalty or procedures or legal consequence against any person for reporting his concerns or doubts about any legal or regulatory violations.
Code of ethics comprises 13 policies about integrity covering the major fields of risk and hazard. The 13 policies were classified into 3 categories: Our International Environment, Work Place and Corporation Assets Protection. The above policies include rules of conduct control in several aspects; the following are examples of such rules:
- Handle Corporation business honestly and apply the highest methods and ethics in management, and refrain to perform any act that jeopardized Corporation’s honesty and integrity inside and outside the Corporation.
- Exert all time and efforts for performing his duties, and refrain to waste other colleagues’ time.
- Cooperate with his co-workers to perform the work to the best interests of the Corporation.
- Loyalty to the Corporation is a very desirable trait for both management and employees. All must prove their loyalty and act always to the best interest of the Corporation in all work relations, to include customers, government authorities, Corporation presidents and colleagues, and report to executive management any action of negative impact on the Corporation.
- Comprehend, and act upon such, that all employees are jointly responsible of supporting Corporation objectives regarding internal administrative and finance control, and abide by such objectives.
- Refrain to use any information or items disclosed to the employee confidentially - as a Corporation employee – for his personal purposes or interests; and avoid disclosing confidential propriety, technical or administrative information to any unauthorized body.
- Refrain to participate – for free or against money – in any media activity such as giving press releases of announce articles without prior written approval from SABIC authorized officer.
- Refrain to accept any gifts or benefits from internal or external bodies that may have impact on employee’s decision or performance of his duties, or failure to perform for the interest of such bodies.
- Under no circumstances whatsoever should the employee offer or try to offer a bribe or any other item for tempting a probable customer for promoting Corporation products or services or influencing his decision.
- Refrain to accept any bribe or any other temptation whatsoever, for achieving any purpose such as: awarding a contract or purchase order to a probable vendor, or giving him information. If the employee was offered a bribe or any other temptation, he should immediately report the incident to his manager.
- Refrain to use the authority of your position for achieving personal profits.
- Abide by accuracy and fairness in registering all Corporation financial transactions according to generally accepted practices of accountancy, protect Corporation properties according to Corporation rules and regulations, insure using the assets properly and insure that financial and operational records and reports are accurate, complete and reliable.
- Employee should not disclose any job secrets and information that came to his knowledge by virtue of his position, and refrain to transport any unannounced information to any third party, unless such action is part of his normal performance of his duties, or approved by the Corporation.
- Abide by all applied systems in Kingdom of Saudi Arabia.
- Corporation forbids using computers, phone sets and lines, internet and email in aggressive methods towards third parties, or degrade the Morales of employees. Corporation properties should not be used to enter into commercial joint ventures with third parties, or discus religious, political or non-work related issues.
ARTICLE 3: THE CONSEQUENCES OF ABIDING BY THE CODE OF ETHICS
The Corporation exerts its efforts in planting the culture of “abiding by rules and regulations”, which will enhance its development and development plans in the Corporation through the following:
- Adding value to the commercial aspect of the Corporation, and increase the trust of customers, providers partners, communities and governments in the Corporation.
- Open the opportunity for teamwork because the Corporation aims to exert its efforts towards achieving the same mutual objectives.
- Encourage self-control, and provide protection beyond the methods of external control only.
- Increase employees’ self-confidence, where they can comprehend work values and introduce them to third parties.
- Achieve more sense of responsibilities and higher professionalism because the employees can deduce the expected behavior that encourages them to act in a true professional method.
- Spread the concept of abiding by rules and regulations in order to help employees in working in an environment of controlled performance that abides by regulatory rules.