“... Everywhere, Veolia complies with the laws and regulations in force. In addition, it applies widely disseminated rules of ethics that are in line with its values relating to responsibility, solidarity, respect, innovation and customer focus...”
An absolute obligation
Compliance with the law and internal rules is essential because it is the basis of the relationship of trust that Veolia maintains with its employees, shareholders, partners and customers and, more broadly, with all its stakeholders.
A success factor
Compliance is fully in line with the Group's policy of being a responsible and useful business. As a result it is an essential aspect of Veolia's commitment to its stakeholders.
Furthermore, the Group's ambitions in terms of compliance contribute directly and positively to its competitiveness and to making it different from its competitors. Veolia thus meets the legitimate requirements of its customers in this respect and increases its ability to attract the talent needed to implement its strategy.
Making the commitment a reality
Veolia's commitment to compliance is reflected at the highest level of the Group. In its external and internal communications, senior management regularly reiterates that for Veolia ethics and compliance issues are non-negotiable.
The Group has an independent Compliance Department reporting directly to the Chairman and CEO. In addition, Veolia's management bodies (Executive Committee, Management Committee) and Board of Directors are fully involved in establishing and applying the Group's compliance policy.
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In terms of its compliance policy, Veolia mobilizes significant human and financial resources to identify, assess, prevent and remedy risks in the following areas:
- corruption and the traffic of influence
- money laundering and financing terrorism
- corporate due diligence
- violations of human rights and fundamental freedoms
- environmental abuses
- anti-competitive practices
- protection of personal data
- conflicts of interest
- the framework for representing interests (lobbying)
- integrity of financial markets (insider trading)
Veolia strictly applies its compliance policy in its relations with customers, partners and intermediaries, suppliers and subcontractors.
The Group's governance reflects its commitment to compliance. Thus, several dedicated committees are responsible for compliance-related issues – for example, the Veolia ethics and compliance committee, the human rights and vigilance committee, and the sponsorships and patronages committee.
Personal data protection
Veolia is committed to applying national provisions as well as the regulations in Europe covering personal data protection (the General Data Protection Regulation). The Group has therefore drawn up a Group policy and set minimum standards in this regard.
Veolia attaches great importance to environmental risk management. Accordingly, the company's governance in this respect is built around a committee specifically dedicated to monitoring these issues. The Compliance Department participates actively in the work of this committee.
Duty of care
Veolia's ethics and compliance commitment is part of a broader societal dynamic that sees a growing number of stakeholders questioning companies’ extra-financial performance.
One of the most visible examples of this structural trend is France’s law no. 2017-399 of 27 March 2017 covering the duty of care of parent companies and ordering companies. In this respect, Veolia publishes a "vigilance plan" that sets out how the Group meets the requirements of this legislation (human rights and fundamental freedoms, health and safety, serious environmental damage, and suppliers and subcontractors).