Patria Group’s objective is to be recognized as an ethical operator in the industry, which requires the following:
Patria’s principles regarding ethical business conduct and anti-corruption and anti-bribery measures it takes have permeated the company’s stakeholders, with Patria being viewed as a company with a high integrity, transparency and ethical standards
Patria’s business partners conduct business based on a level corresponding, at minimum, to the principles and requirements that are specified in Patria Ethical Code of Conduct
Patria’s board members, directors, officers, personnel and temporary workers are aware of the Patria Ethical Code of Conduct and Patria´s requirements for ethical business
Patria requires zero tolerance towards corruption and bribery. Patria does not tolerate unethical or corrupt conduct by its board, directors, officers, personnel, temporary workers or business partners and acts actively against it. Patria pays special attention to integrity and strict ethical standards in business conduct with private companies, political parties, public authorities and agencies and their officials in all countries where we conduct business. Patria expects similar ethics and integrity standards from its business partners.
Commitment to anti-bribery and anti-corruption with Patria is authorized and endorsed by the Patria Board of Directors and the President & CEO as well as other senior leadership. This commitment is communicated both internally and externally by the Board, President & CEO and other senior leadership.
Patria's anti-bribery and anti-corruption policy is expressly stated in the Patria Ethical Code of Conduct which is publicly available. Patria Ethical Code of Conduct is applicable to Patria board, directors, officers, managers, personnel and temporary and agency workers in all Patria companies.
Management and reporting to the Board and Audit Committee
Patria Board of Directors and Audit Committee is ultimately responsible for the oversight of the company´s anti-bribery and anti-corruption programme and regularly reviews reports on the programme´s performance, along with the results of internal and external audits, and ensuring that required changes and corrective actions are made.
Patria's anti-bribery and corruption activities are led by the General Counsel & Chief Compliance Officer who reports to the President & CEO. The General Counsel & Chief Compliance Officer report regularly to the Board of Directors and Audit Committee on issues related to anti-bribery and anti-corruption and Patria Ethics and Compliance program. In addition, the main issues regarding the same are reported by the General Counsel & Chief Compliance Officer to the Board of Management of Patria Group. Read more about the management and responsibilities.
Prevention – raising awareness through clear policies and training to ensure ethical decision making and ethical business conduct.
- By training for all personnel and critical business partners well as offering more in-depth training for special groups, read more about the training
Detection – encouraging people to report any concerns or suspected cases of unethical conduct and offering tools to identify potential issues
- Pulse taken every other year by a personnel and selected other stakeholders' survey with explicit questions on possible corruptive activities or other unethical conduct
- Part of the general personnel engagement surveys, the latest in 2018
- Stakeholder feedback enabled via a channel in the website
- Whistle blowing channel including anonymous reporting possibility, read more about raising concerns
Investigations and corrective actions – investigating all reported concerns and taking appropriate corrective action when case of corruption or other unethical conduct is discovered or suspected
- All reports on alleged misconducts are investigated according to the process in place. First the Chief Compliance Officer evaluates the nature and gravity of the reported alleged or suspected unethical conduct. Depending on the case appropriate resources, such as field experts and/or HR specialists and/or an external auditor, are engaged to take part in the investigation. In case of a serious crime, external authorities are contacted. All the reports and investigations (and the outcome of the investigations) are recorded in a special report log. All reports, investigations and corrective actions are reported to the Audit Committee twice a year in a manner that the privacy regulations are met.
- The entire process description is available internally for personnel
Interaction – collaborate with others in our industry to promote wider adoption of anti-corruption and anti-bribery measures, read more about the network