EADS Code of Ethics
At the time of the creation of EADS, the Code of Ethics was established and communicated to the employees of the Group. This Code of Ethics aimed at emphasizing values that were key success factors for achieving an efficient integration of different companies into one group. In 2005, more than four years after the creation of EADS, in light of its establishment as a market leader in many of its businesses, and considering the evolving legal environment relating to business ethics, EADS updated the Code of Ethics in order to reflect practices recommended by various codes and laws and to align with best practice.
The enhanced EADS Code of Ethics sets out in one single comprehensive document the EADS Group business guidelines related to the ethical standards that the Group adheres to.
The Code of Ethics serves as a core EADS business guideline in an architecture of documents in which the code also refers to pre-existing, detailed policies as laid out in the EADS Corporate Handbook as well as Division or BU specific policies and processes. It is based on EADS’ underlying values and fully in line with international recognised standards as laid out in charters, declarations or guidelines, such as the Universal Declaration of Human Rights, International Labour Organisation’s Declaration and OECD Convention. EADS, as a signatory of the United Nations Global Compact, is committed to promoting, within its sphere of influence, the application of fundamental values regarding Human Rights, Labour, Environment and Anticorruption. EADS is willing to report on the Group’s success in implementing its sustainable development strategy.
Since April 2006, it is available in the four EADS languages on the Group intranet and can be downloaded from the EADS web site www.eads.com.
The Code of Ethics covers the full scope of EADS’ CSR policies, addressing in its five chapters the principal lines of ethical behaviour:
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"Creating a positive working climate” describes EADS’ principles in terms of, e.g. dialogue and representation, equal opportunities policy, and management of HR development;
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"Doing business ethically" discusses issues such as conflicts of interest, export control and contracting with governments, as well as the hiring of government officials;
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"Fostering sustainable growth" deals with proper use of information and intellectual property rights, as well as relationships with suppliers;
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"Respecting the environment" covers developing environmentally sound processes and products;
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"Living in our communities” describes the ways in which EADS contributes to the life and development of communities where it operates.
The Code of Ethics, therefore, gives guidance to all employees about appropriate conduct in their professional environment.
EADS is committed to implementing the principles described in this Code, in particular through entrusting an EADS Ethics Committee with compliance responsibility in ethics matters.
The Code of Ethics describes the missions of the Ethics Committee set up by the EADS Board of Directors. In particular, the Ethics Committee will offer guidance to the EADS Chairmen, the Board of Directors and its Committees, the CEOs, COOs and Executive Committee, as well as management at large regarding all ethical questions. The Committee will submit at least annually a report to the EADS Board of Directors with respect to each year’s activities. It will also implement appropriate coordination with the compliance functions of EADS and its Divisions.
In 2006, EADS initiated a review of its compliance activities and processes; its findings were that EADS had a reasonably solid base of compliance practices, compliance processes existing for each of the CSR domains relevant for the business. Within the aerospace and defence industry, the overall level of compliance in the CSR domains is globally rated average or above average by rating agencies. The level of achievement by EADS of these agencies’ expectations varies among the covered topics, depending upon the compliance levels that the Group has already completed e.g. the international compliance programme is well perceived by EADS’ stakeholders for it provides clear compliance rules, a structured compliance organisation and the implementation of compliance processes is substantiated by KPIs. Notwithstanding, the Group is considering to further develop its compliance approach and thus, is studying the possible implementation of a comprehensive group-wide compliance organisation to address overall compliance in a structured way. This organisation would also aim at further developing the awareness of the principles laid down in the Code of Ethics as well as at ensuring that individual behaviours are in line with the Group’s commitments and policies. The contemplated organisation shall incorporate an ethics alert system.
See the EADS Code of Ethics: |
