Grupo Lamosa promotes an organizational culture based on the values that identify the company and on the rigorous compliance required by its bylaws and applicable local laws, with the continuous implementation of best practices in ethics and integrity.
The values on which Grupo Lamosa bases its actions are:
Responsibility
Honesty
Spirit of service
Teamwork
Continuous improvement
The company’s Code of Ethics contains the guidelines for conduct that are expected of directors, management and employees, and for guaranteeing a correct relationship with external stakeholders, including distributors and suppliers, who must also be committed to such compliance.
Employees receive training on the Code in their induction into the company. Subsequently, they sign a commitment letter (confirming no conflict of interest), which they renew at least every two years.
The Code of Ethics is complemented by policies that reinforce the company’s ethical culture:
Anti-Corruption and Anti-Money-Laundering Policy
Privacy Policy
Conflict of Interest Policy
Diversity Policy
In order to identify any undesirable practices in the organization, Grupo Lamosa has an ethical complaints line called the “Transparency Line” for the use of employees, where they can report possible violations of the Code or institutional policies completely anonymously.
The Ethics Committee is the body responsible for investigating and resolving any cases of non-compliance, updating the Code of Ethics periodically and receiving feedback to guarantee its effectiveness.
It is also responsible for implementing advertising campaigns and satisfaction surveys, to evaluate the effectiveness and acceptance of the Transparency Line.
The Ethics Committee is made up of the CEO, the Human Resources Vice President, the CFO and the Internal Audit Director. This Committee reports to the Audit Committee which, in turn, reports to the Board of Directors. The Audit Committee is responsible for any ethical issue involving a member of the Ethics Committee.
It should be noted that the company did not present any significant cases of legal non-compliance during 2022. Apart from fulfilling its tax responsibilities, Grupo Lamosa makes no economic contributions to political parties or government entities.
Appendix 1.6: Main ESG indicators presents the cases reported to the complaints line in 2023.