5.4 PROGRESS: create value responsibly

Edenred is committed to creating value by developing its activities and partnerships ethically throughout its value chain, ensuring IT security and data protection while meeting the expectations of its stakeholders and involving them in its the digitalization of its solutions.

 

5.4.1 Ethically developing activities and partnerships throughout the value chain

5.4.1.1 Priority issue: business ethics

With its top-level intermediation platform, Edenred is the everyday companion for people at work. It is therefore Edenred’s duty to act as a trusted partner, especially when working with governments and institutions. Upholding fair business practices, such as ethical performance throughout its value chain, is crucial to its success. The Group’s practices also include combating corruption and money laundering and complying with competition law in an industry in which it is a leader.

 

5.4.1.1.1 Fair practices
Charter of Ethics

Edenred’s main ethical principles are presented in its Charter of Ethics, available on the corporate website. The charter covers 13 topics, including protection of company assets, IT security, personal data protection, compliance with competition law and non-discrimination.

The charter also defines the behaviors and practices that every employee and every supplier is expected to demonstrate. Line managers cascade the charter’s fundamental guidelines to their teams and maintain constant awareness of their importance.

By end-2020, a total of 96% of employees had approved the charter and the majority of subsidiaries had introduced a clause requiring work contracts to comply with the charter.

 

NUMBER OF EMPLOYEES WHO APPROVED THE CHARTER OF ETHICS

en133

 

Preventing corruption and money laundering

In 2019, based on the updated risk map of corruption scenarios, the Group Compliance Department revised the best practices guide aimed at avoiding and fighting against corruption in every geography, in compliance with France’s Sapin 2 Act concerning transparency, the fight against corruption and modernization of the economy. Available in several languages, the guide was supplemented with the launch of an online training module on corruption risks for all employees and strengthened anti-corruption processes. At the same time, the whistleblowing procedure was reviewed to enable reporting of any suspected case of bribery or corruption.

The Group Compliance Department is notably tasked with helping subsidiaries to ensure compliance with the laws and regulations designed to combat organized crime, money-laundering and/or the financing of terrorism.

The measures taken by Edenred to identify and manage corruption and money laundering risks are outlined in section 4.1.2.5, page 73.