Sustainability Report 2012 - Generali Versicherung AG

The Group also recognises the freedom of associationand collective bargaining, and prohibits any kind of illicitwork, exploitation, as well as any type of compulsory,forced or child labour. Respect for the aforementionedcore international standards of the International LabourOrganisation is constantly monitored throughout the entireGroup and promoted through specific training programmesso as to create widespread awareness. In particular, ane-learning course on the pre-existing Ethical Code ofthe Generali Group was launched in 2011, focussing inparticular, on the respect for human and labour rights,which has involved almost 19,000 employees to date,giving priority to those that work in countries where thisrespect is not always guaranteed. For more details, referto the chapter Employees, section Human rights of thisdocument.The Group is not limited to ensuring respect for thefundamental human rights of its employees but, inapplication of the provisions of the Ethical Code forthe Suppliers of the Generali Group, asks its suppliersto observe all applicable national and international lawsand regulations, including therein the UN UniversalDeclaration of Human Rights and the Declaration of theInternational Labour Organisation, and to also ensurecompliance with them by the respective supply chains.More details can be found in the chapter Suppliers ofthis document.The Generali Group also protects and promotesfundamental human rights in its role as institutionalinvestor, through an investment policy that encouragesissuing companies to act responsibly. Indeed, it forbidsinvestments in financial instruments issued by companiesthat are, directly or through subsidiaries, involved inexploitation of child or forced labour or produce clusterbombs, anti-personnel mines and similar weapons. Theseindications are currently contained in the Ethical Guidelinesfor Investments, described in the section Policies andmanagement tools in this chapter, to which referenceshould be made for in-depth information.CorruptionThe fight against corruption is one of the top globalchallenges. In fact, corruption is a major obstacle tosustainable development and has a considerable impacton the poorer communities in particular: it impedeseconomic growth, distorts competition betweencompanies, presents serious legal and reputational risksfor companies, and represents a huge cost.Not only governments, but companies too can contributeto a more transparent global economy, by undertaking toeliminate all forms of corruption, develop incisive policiesand practical anti-corruption programmes.The Generali Group plays an active role in the fightagainst corruption: as a UN Global Compact member,Sacred Convent of Assisi, Restoration of Frescoes by Giotto, Italyit undertakes to share, support and apply principle 10concerning the fight against corruption, in its spheresof influence; in addition, it asks all its stakeholders toengage in ethical conduct to counter corruption andadopts suitable measures to prevent conduct that is notin keeping with the principles of correctness, legality andtransparency.Ensuring respect for the provisions governing corruptionis a strategic objective for the Group. For this reason, asstated in the Charter of Sustainability Commitments, theGroup undertakes, in the short-term, to insert the periodicrisk assessment of its business activities in the complianceplans.Almost all countries in which the Group operates havelegislation that prohibits corruption by public and privateentities and are required to comply with said legislation,on pain of penal and/or civil sanctions. However, theGroup has expressly reaffirmed its rejection of all formsof corruption, including the payment of bribes andextortion, in the new Code of Conduct and has providedthe proper Group Rules on the matter.In particular, in carrying out their duties, employees andthird parties who operate on behalf of the Group (agents,suppliers, consultants, etc.) are required to act ethicallyand avoid offering to or accepting from public officials orbusiness partners (or their relatives or business partners)unlawful payments, gifts, forms of entertainment or otherinappropriate benefits. The obligation to abstain from thisconduct applies without exception in the case of unlawfulpayments, such as bribes, payoffs or facilitating paymentswhich aim to speed up or facilitate the execution of routineoperations.By contrast, gifts, forms of entertainment or other benefitsare not considered improper and may be offered orreceived only when of a small value, are suited to thecircumstances, concern working activities, are permittedunder local legislation and conform to the commercialpractice in use.the group | 37