ETHICS AND COMPLIANCE

Integrity remains the cornerstone of SABIC, guiding our people and partners to operate ethically, honestly, and in compliance with the laws and regulations of the countries where we do business.

In 2024, SABIC implemented an updated Code of Ethics, which adopts a value-driven, inclusive tone, with simplified language. The primary aim of the updates is to make the Code a more practical guide and tool for employees to use in their daily tasks. The launch of the Code was supported by a multilingual campaign featuring visual communications and employee guidance. SABIC's group of Integrity Ambassadors, a network of employees across SABIC selected to promote awareness about compliance issues, held live sessions to discuss the Code and the importance of speaking up. The Code is available in multiple languages, and features interactive links to guide users to a dedicated Code of Ethics portal with additional resources.

COMPLIANCE INVESTIGATIONS

We encourage employees to report any integrity concerns and to inquire and ask for guidance as necessary. We also enable external stakeholders such as customers, suppliers, and community members to raise concerns through several channels. 

A total of 208 compliance-related incidents were reported in 2024; 77 concerns were found to be in violation of the SABIC Code of Ethics and were addressed appropriately, with 158 investigations closed in the fiscal year 2024.

ONLINE COMPLIANCE TRAINING

To build the right foundation for our integrity culture, all employees are required to complete compliance training, covering all key regulations and laws associated with responsibilities and risks related to their work duties, once every two years. In addition, SABIC conducts in-person and virtual training where appropriate.

2024 DEVELOPMENTS

• One of our key priorities in 2024 was to ensure compliance with applicable trade laws and regulations across its operations. We invested in guidance and awareness programs tailored to internal and external stakeholder groups. Our trade compliance program utilizes screening tools, internal and external communications, and training to respond to risks presented by cross-border business.
• SABIC is a member of the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, and Ethisphere's Business Ethics Leadership Alliance (BELA). This network has enabled SABIC to leverage shared knowledge and experiences from across many global organizations to further strengthen and benchmark our ethics and compliance program and build compliance leadership capacity internally and externally with our stakeholders.

_{Disclaimer: This abridged interactive version of the SABIC Integrated Annual Report 2024 is based on the original PDF report published on this website. In case of any discrepancy, the original PDF report will prevail.}