Responsible Supply Chain

Policies and commitments

The creation of a responsible supply chain based on ESG criteria and in accordance with the Company’s Suppliers and Business Partners Code of Conduct. In addition, in 2023, MYTILINEOS created a special central Responsible Supply Chain Policy proving its commitment to promoting responsible entrepreneurship and, by extension, strengthening the sustainability of the supply chain.

Impacts and major risks

Impacts

Actual positive impacts

Since 2019, MYTILINEOS has developed the "Suppliers/ Business Partners Code of Conduct", seeking to enhance its positive impacts until today, in the medium and long term, such as: ensuring better risk management in its supply chain, seizing business opportunities, and forming responsible suppliers and business partners that can create expanded financial and social value.

Potential negative impacts

The lack of responsible practices in MYTILINEOS’ supply chain may be a source of negative impacts such as: problems in the supply of raw materials, materials, and services, increased environmental impacts, health and safety risks, human rights violations, ethical and compliance risks, with consequences for the Company's reputation and credibility, as well as potential financial penalties.

Major risks

The lack of responsible practices in the Company's supply chain can be a source of different risks, such as: problems in the supply of raw materials, materials, and services, increased environmental impacts, health and safety risks, risks of human rights violations, ethical and compliance risks, with financial consequences for the Company, as well as consequences for its reputation and credibility.

Management / Control practices

  • Development and publication of a "Suppliers and Business Partners Code of Conduct", being a prerequisite when signing a contract or other agreement with a supplier (compliance is a contractual obligation).
  • The Company, as part of its "zero tolerance" policy in these matters, reserves the right to terminate any form of cooperation with a Supplier/Business Partner who does not comply with the integrity principle as well as with the applicable legislation and relevant anti-corruption and anti-bribery regulations in its countries of operation.
  • Implementation of training seminars to the Company's Greek key suppliers for the effective understanding of the framework of responsible entrepreneurship, as well as the enhancement of the level of maturity.
  • Evaluation process with which the Company seeks to identify critical issues, provide support, and continuously foster the improvement of its key suppliers’ performance.

Effectiveness of the actions

  • 11.504 active suppliers and partners of MYTILINEOS in Greece and abroad.
  • 601 new suppliers with which the Company partnered for the first time in 2022 across its business activities with 90 new suppliers, it was deemed necessary to additionally check them against the Environmental and Social criteria.
  • €1.6 billion total expenditure towards its suppliers in Greece to produce its products, the provision of services and the development of its projects.
  • 28,4% the total percentage of the total purchasing budget allocated to local suppliers.
  • 18,1% of key supplies was assessed with ESG criteria from MYTILINEOS two Business Units and Central Function.
  • 87% of key suppliers operate responsibly, in the framework of sustainable development, while 0,88% is at the severe risk level.
  • 13% increase in expenditure compared to 2021 on suppliers of Power & Gas business unit.
Change cookies consent Revoke cookies consent