Robust governance remains at the core of our business
Our success depends on us being trusted by all our stakeholders to uphold high standards of governance and business conduct. Robust governance remains at the core of our business and underpins the sustainability of the business.
This is enhanced by an unwavering commitment to ethical and responsible behaviour, in all aspects of what we do. Our industry is amongst the most highly regulated of any sector, and we always strive to comply with – and often exceed – applicable laws. The effective governance of our business is fundamental to us. Our Operational Framework sets out our approach and the policies, processes and standards to which we adhere and apply everywhere we operate. Together with our Code of Conduct and Supplier Principles – Guidance for Responsible Business, these outline expectations for all our employees and business partners in support of our business including our sustainability agenda.
Educating employees to empower them to take the right ethical decisions
All employees are required to complete ethics training annually. Our training actively encourages all employees to speak up if they have a concern or talk to a colleague, their manager, HR or a legal contact if they need guidance. We also actively promote our Ethics Officers and Ethics Helpline across our businesses, which means employees can raise issues or seek guidance in person and in confidence. We revise our Code of Conduct every three years to include changes to our internal processes and policies and incorporate external best practice.
relating to unethical behaviour received in 2020, a decrease of 21.8% compared to 2019
completed our ethics training in 2020
across our business (one for every 386 employees)
Each employee has a vital role to play in ensuring that we maintain the high standards of ethical conduct that our customers, shareholders, partners, and colleagues expect. We have a zero tolerance policy regarding corruption in all its forms. Our anti-corruption programme is designed to ensure adherence to legal and regulatory requirements recognising the bribery and corruption risks that faced by the Company. The programme also provides our employees with practical guidance, help to understand what is expected of them and to create an environment in which they feel they can ask questions and raise issues and concerns.
Improving industry standards by setting good examples
We play our part in supporting others. We set an example for business partners and seek to help improve standards across our industry. The Company takes a proactive leadership role in its engagement with the defence industry, governments, NGOs and other interested parties to develop initiatives that will address the key ethical issues affecting the defence industry.
Taking the lead
Examples of this include taking leadership positions on our industry body for ethics, the International Forum on Business Ethical Conduct (IFBEC) and in the US the Defense Industry Initiative (DII) taking leadership positions on our industry body for ethics
We also regularly interact and support the Institute of Business Ethics (IBE) and Ethics & Compliance Initiative (ECI)
We are proactive members of both the Aerospace and Defence Industries Association of Europe and the Aerospace, Defence, Security and Space trade associations.