The document outlines Pirelli’s sustainable approach to business, by imposing strict, uniform guidelines for professional practices that everyone working in, for and with the Company must obey. Approved by the Board of Directors of Pirelli & C. S.p.A. in 2003, the Ethical Code was amended in 2009 to bring it in line with the evolution of the Group’s sustainability strategy and to satisfy new market and corporate governance requirements. The updated version was approved by the Board of Directors of Pirelli & C.
Within the ambit of their own functions and responsibilities, the directors, statutory auditors, executives and employees of the Pirelli Group, as well as everyone else who works on behalf or in favour of the Pirelli Group inside and outside Italy, or who have business relationships with it (the “Addressees of the Code”) must comply with the principles and obligations set out in the Code. More specifically, the Code:
- illustrates the values on which Pirelli ’s own business activities are based, i.e. fidelity, fairness, transparency, sustainable growth, customer focus, responsibility and results-oriented effort, professional excellence, innovation, quality and performance, integration and promptness;
- indicates the principles of conduct on which Pirelli bases its own business activity in internal and external relations;
- identifies the stakeholders with which Pirelli interacts, describing the sustainable approach that characterises their relationship with each one of them;
- imposes appropriate penalties for violation of the Code.
The Group’s Whistleblowing procedure is a key tool for enforcing compliance with the Code, and is the subject of a special section of this chapter, “Group Whistleblowing Procedure.”
The Values and Ethical Code and the Whistleblowing Procedure have been distributed to all Pirelli employees in local language versions. Suppliers are also formally required to comply with the values and business approach set out in the Code. For this reason, the document is published in the Sustainability section of the Pirelli website, and not only in the languages spoken by employees but also in those that are most representative of the panel of suppliers.