Ethics charter

This ethical ambition, shared by all, requires every individual to be exemplary

We have a very clear policy: zero tolerance, particularly regarding fraud and corruption, and complete commitment to compliance with ethical rules – those of the countries in which we operate and those we set for ourselves. This requires every employee to take seriously their role in building and protecting the Group’s reputation, by acting in full compliance with the applicable laws and our values and ethical principles, in all of our activities.
Ethics must be at the core of managing our daily activities. It must feed our managerial, commercial, and operational practices. Ethics is not only the issue of a line, it’s everyone’s issue and an issue for all of us. We build together the trust of our stakeholders, which is a major value creation lever for the Group.
This ethical ambition is embedded in the principles set out in the present Charter. No development or performance objective should therefore be set within the Group or its entities if implementation leads to any infringement of these principles.
Although our Group draws strength from its operational excellence, it is also recognized by all of its partners and customers for its very high level of reliability and responsibility. It is therefore down to each and every one of us to live up to the trust that is placed on us, by making ethics an absolute priority every day.

PRINCIPLE 1

Act in accordance with laws and regulations

In all circumstances, all Group employees must observe international, federal, national, and local regulations, as well as rules of professional ethics for their activities, and the Group’s ethics and compliance policies. Regarding these specific rules, as they shape the Group’s identity, all entities must respect them in substance, subject to the binding provisions of relevant laws and local customs.

PRINCIPLE 2

Behave honestly and promote a culture of integrity

Honesty and integrity must govern both business and interpersonal relationships, and everyday professional practices. It is essential for every individual to act in an upright manner in all circumstances, and promote a culture of honesty and integrity. Based on this principle, the Group attaches the utmost importance to exemplary behavior from its employees. In choosing its partners, Parsa Company is careful to maintain high requirements regarding honesty and respect for human rights.
As a consequence, Parsa Company encourages reporting of ethical incidents, and no employee may be sanctioned neither for using a reporting measure for these incidents, selflessly and in good faith, nor for refusing to carry out an act which they believe goes against the Group’s ethical principles.

PRINCIPLE 3

Be loyal

For the Group, the quality of a relationship relies on the loyalty of the parties, particularly in the execution of contracts. In particular, this requires that we honor the commitments made and that we do not make any commitment that the Group cannot keep. Every time one of the Group’s employees communicates with their contacts, they do so in good faith, in a constructive spirit, in respect of everyone’s interests, and caring about providing sincere information. The principle of transparency, which guides a large company like Parsa Company, does not prevent employees from respecting business secrecy, within the framework of the applicable laws. Parsa Company, which expects its employees to respect the principles laid out in the present Charter, offers in return the necessary protection when they are challenged or jeopardized, provided that they have acted in good faith in the course of their duties.

PRINCIPLE 4

Respect others

Convinced that a sustainable company is a company that unites economic development and human progress, Parsa Company attaches the utmost importance to the values of tolerance and respect for others, to which all employees must adhere in the course of their professional activities, and which govern every Parsa Company entity’s relationship with them.
Respect for others implies treating everyone fairly, by giving equal importance to everyone. It requires reciprocity: everyone has rights they can exercise, but also duties to fulfill, towards others, their entity, the Group, and society as a whole.
In particular, this principle covers respecting, in all circumstances, the rights of persons, their dignity and their singularity, and respecting different cultures. It also applies to material and immaterial goods belonging to others, and more generally to the preservation of heritage and the environment.
It guides the Group’s policy for gender equality, respect for private life, promoting diversity and fighting all forms of discrimination, protecting health and safety at work, and in particular preventing and sanctioning all situations of harassment.
It underlies all of Parsa Company’s internal and external policies, and must even inspire the mode of conflict resolution.
Tolerance, which is manifested in kindness and openness to others, rules out any form of extremist behavior.

Ethics charter

To all of the Group’s employees and Group entities

Parsa Company expects its employees to act in accordance with the Group’s ethical principles, in all circumstances, and whatever their jobs, level of responsibility, and contacts.
A healthy working environment contributes to the successful operation of the Group and to employee well-being. The Group, therefore, pays great attention to the quality of life at work. Respect and trust must guide relationships between employees and dialogue with social partners.
Everyone, from board members to employees, has the responsibility never to act in any way which might raise the slightest doubt about the Group’s ethics.
The fundamental ethical principles must be promoted by the Group employees who sit on the boards of directors or supervisory boards of companies controlled by Parsa Company.
Parsa Company directors and managers are the primary promoters of the Group’s Ethics Charter and its everyday application among employees and stakeholders. While managers must verify that their employees are familiar with their ethical and legal obligations, it is even more important that they should make sure that practices reflect those obligations.

To the Group’s customers and stakeholders

Parsa Company applies its ethical principles to its relationships with all parties involved in the markets, particularly customers, investors, partners, suppliers, service providers, and subcontractors (including intermediaries or business consultants) or non-governmental organizations (NGOs).
The Group promotes these principles among all of its stakeholders.
Regarding customers, the Group pays utmost attention to their satisfaction, based on quality products and services, an open dialogue, procedural transparency, honoring commitments, and respecting rules of competition.
In their dealing with all stakeholders in the market, Parsa Company’s employees behave loyally and show fairness and impartiality in negotiations. They ensure that the ethical concerns of partners, suppliers, service providers, and subcontractors are compatible with those of the Group, and bring Parsa Company’s Ethics charter to their attention.
The Group requires its contracts with partners, suppliers, service providers, and subcontractors to include a clause stipulating compliance with Parsa Company’s commitments in the areas of human rights and fighting corruption, on the part of both the parties and their own partners. The Group looks into the integrity and the reputation of its partners, suppliers, service providers, and subcontractors.

To society as a whole

The Group applies its ethical principles wherever it is present. It conducts its business in accordance with internationally recognized human rights.
Parsa Company is socially responsible and committed to respecting the environment and cultural diversity and minimizing its environmental impact in the communities where it develops its business. It communicates openly about its achievements and its challenges in this area and cooperates with environmental and humanitarian non-governmental organizations (NGOs).

Governance

Parsa Company’s ethical commitment is promoted at the highest level of the Group: the Chairman, the CEO and the Executive Committee have equipped the Group with structures for this purpose.
The Parsa Company Board of Directors’ Committee for Ethics monitors respect of the individual and collective values underlying the Group’s activities, and of the rules of conduct to be followed by every employee. It ensures that the Group has adequate means to apply these values and rules.
Parsa Company’s Committee for Ethics, chaired by the General Secretary, monitors the proper implementation of the Group’s ethical commitments, follows up on identified failures, and ensures that they are adequately dealt with. Its work gives the Group’s governing bodies and the General Management reasonable assurance that Parsa Company’s ethics program is applied and monitored.