We are confident in our own internal mechanisms for preventing corruption such as our Anti-Corruption policy, our crime prevention model, and our System of Internal Control over Financial Reporting.
We assume our commitment to fight against corruption in all its forms and carry out all our activities in accordance with the applicable legislation in all areas of activity and in all the countries where we operate. Our commitment to preventing corruption is reflected in the establishment of principles that govern the conduct of all our employees.
Corruption is a considerable obstacle to economic and social development around the world. It has negative impacts on sustainable development and particularly affects poor communities.
For companies, corruption impedes business growth, escalates costs and poses serious legal and reputational risks. It also raises transaction costs, undermines fair competition, impedes long-term foreign and domestic investment, and distorts development priorities. Investors too understand that corruption can negatively impact value and pose financial, operational and reputational risks to their investments.
New and tougher anti-corruption regulations continue to emerge worldwide. All companies need robust anti-corruption measures and practices to protect their reputations and the interests of their stakeholders.
With our partners, we are working to help companies on a range of anti-corruption issues. These include risk assessment, reporting and supply chain practices. Additionally, we are mobilizing business to provide a united voice against corruption. Collective action is essential for bringing an end to a systemic issue that is too complex for any company to tackle alone.