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Ethics and compliance represents a values-based approach to business that incorporates statutory and internal corporate regulations. Adhering to sound business principles both within and beyond our core working hours has enabled Linde and BOC to gain their stakeholders’ trust. We know that strengthening our reputation considerably increases our value base, and regard this as an ongoing task within the new organisation.
The Linde Group Code of Ethics provides our employees with rules and standards to help them navigate an increasingly complex business world. Linde developed this code in 2007 and launched the Linde Group Integrity Line. In future, we intend to concentrate on establishing structures and additional tools that support compliance with the Code of Ethics. Our objective is to ensure that ethics and compliance is firmly rooted in all areas of company life.
Example // Your team’s year end results are ahead of budget. A piece of new equipment is due to be purchased and delivered in early January of the new year. Your plant manager has asked whether the invoice for the equipment can be paid for out of this year’s budget. Is this ok?
- The status of your budget is not relevant. Where goods or services have not been received or supplied, the liability must not be recognised.
Recognising uniform rules of conduct
The repercussions for companies that violate the rules and laws that govern business (fair trade or anti-corruption laws, for instance) are increasingly coming under the international spotlight. A variety of penalties can now be imposed, ranging from high monetary fines to prison sentences for offending individuals. Furthermore, the damage to a company’s reputation can have a serious negative impact on all areas of business.
Our ability to successfully position ourselves as a leading gases and engineering company that sets standards across the board is therefore closely linked to our ability to minimise these risks. This is why we place so much importance on all employees being familiar with the regulations stated in the Code of Ethics. We believe this is the only way of ensuring a uniform understanding of correct and appropriate business conduct that bridges cultural differences and international boundaries.
The Code of Ethics – structure, content and application
We have based the structure and content of the Code of Ethics on the standards expected of us by our stakeholders – our customers and suppliers, shareholders, employees and society as a whole. At least one real-life example is used to illustrate each of the approximately twenty ethics topics as clearly as possible (see textbox right). A step-by-step visual aid illustrates how a decision can be reached based on ethical considerations (see figure below).
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These symbols should help employees to make the right decision. | ||||
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Recognise that you have an ethical issue in the first place. |
Think before you take action. |
Decide what course of action to take. |
Consider the course of action. |
Proceed: |
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Are you being asked to do something that you think may be wrong? // Are you aware of potentially illegal or unethical conduct by a colleague, customer or supplier? |
Summarise the issue you believe you are facing. Is it clear? // Ask yourself: Why is this a problem? // Consider what your options are. // Review all of the relevant facts and considerations. // Could anyone else be affected? // Ask for guidance from your line manager. |
Re-read the Code of Ethics. // Are there any legal or monetary considerations? // Assess the risks and how they could be minimised. |
Would you be happy explaining what you did to your line manager, colleagues, family and friends without shame or embarrassment? // Would The Linde Group be comfortable if your decision appeared in a newspaper? |
Communicate your decision and your rationale in an appropriate manner. |
The Code of Ethics applies to all employees of Linde AG and Linde subsidiaries across the globe. This includes all companies in which Linde has at least a 50 percent interest. In cases where Linde’s interest is below 50 percent, we encourage our partners to adopt the standards defined in the Code of Ethics.
The Code of Ethics is available on the Internet at www.linde.com. It can be downloaded as a PDF file and is available in the Group’s seven main languages.
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