Legal Compliance

Operation in full harmony, compliance and observance of the applicable legislation and operating principles in each region or country of activity, in accordance with the main axes of the Code of Business Conduct and the Suppliers & Business Partners Code of Conduct

• Risks of economic nature, which may arise from possible negative outcomes of legal disputes regarding non-compliance with the legislation in general.

• Possible non-compliance of the Company with its obligations under the environmental legislation and, more specifically, with the terms of the environmental licenses of its industrial plants. In this case, the competent authorities may impose fines or sanctions, and may also withdraw or refuse to renew permits and approvals in the event of a breach of the applicable regulations.

• The Company operates in countries with emerging economies, where institutional functions may be affected by political conditions and changes thereto. This could negatively affect the Company’s activities.

The above potential risks could have a significant impact on the profitability, financial position, and cash flows of MYTILINEOS and, consequently, on its ability to meet its obligations

• In order to prevent the aforementioned risks, MYTILINEOS complies with the legal and regulatory requirements of the geographical regions in which it operates and ensures that its relations and activities comply with the legislation in force and with the applicable institutional framework.

• Measures are implemented in order to be continuously informed the applicable legal obligations while procedures are in place to monitor legislative developments.

• Compliance with the applicable laws and regulations is reevaluated on a regular basis including compliance with the approved environmental licenses.

• The Company strives to ensure that its business practices are fully aligned with the UN Global Compact’s Principles.

• In the process of submitting project bids, policies and procedures (management system or due diligence procedures) are implemented to prevent bribery and corruption as well as anti-competitive behavior.

• At the same time, trainings on regulatory compliance topics are developed and conducted, such as training on personal data protection (GDPR) and training on the Code of Conduct. In addition, relevant material has been developed and thematic trainings are carried out for specific employees on the below topics:
  
  • Initial training on Regulatory Compliance for new employees
  • Healthy competition law
  • Thorough third-party auditing using the in-house integrity audit platform
  • Complaint management and investigation platform 

• GRI Standards
• SASB Standards
• UN Global Compact