Faurecia is committed to upholding a high compliance standard within the Group and in relationships with stakeholders.
The Group aims to foster growth founded upon socially responsible actions and behaviors in all countries in which it operates and in all fields of its business. Faurecia adheres to:
- The Universal Declaration of Human Rights,
- The International Labour Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work,
- The Declaration on Fundamental Principles and Rights at Work,
- The Rio Declaration on Environment and Development,
- The United Nations Convention Against Corruption.
Faurecia’s ethical culture is embodied in its Code of Ethics allowing the Group to create value for all its stakeholders. The Code of Ethics is structured around four topics: respect of fundamental rights, development of economic and social dialogue, skills development, ethics and rules of conduct. It is part of the Faurecia Core Procedures and aims to develop accountability and employee empowerment.
The Group has an anti-corruption Code of Conduct and a best practices guide concerning anti-competitive practices. These rules cover the following subjects: policy on gifts and hospitality; donations and sponsorships; managing conflicts of interest; the “golden rules” of competition law.
Faurecia communicates regularly on its ethics culture and related rules and will continue to do so to make sure all its business partners know the rules and help Faurecia to continue to adhere to high standards of ethics & compliance.
Furthermore and if a Faurecia’s employee feels that rules are not respected or sees a behavior which is not in compliance with Faurecia’s ethical standards or a situation at risk regarding certain regulations, then this person has the responsibility to speak up either through a usual contact or through Faurecia’s whistle-blowing line. Developing the culture of Speak Up is a key element of one of Faurecia’s Convictions, “power must have a counter-balance”. Faurecia has zero tolerance for non-compliance and encourages everyone, every time, everywhere to feel free to report issues without fear of retaliation.
The Group also bases its sustainable development approach on recognized methodologies and external partners who are experts in their respective fields. Since 2017, Faurecia has been working with its partner EcoVadis to carry out an in-depth assessment of its suppliers focusing on their ethical, social, and environmental practices for a more sustainable value chain. 80% of all direct suppliers are currently assessed by EcoVadis.
Faurecia evaluated as a supplier for its customers, ranks Gold, with a score of 63/100, and is in the top 1% of the companies in its category rated by EcoVadis in 2019.