Glencore PLC, a global diversified natural resource company, has released its third annual Ethics and Compliance Report, underscoring its commitment to responsible and ethical operations. The report provides a comprehensive overview of the company's Ethics and Compliance Programme, including its approach, governance, and processes. It also includes an update on the work of compliance monitors mandated under resolutions with the United States Department of Justice.
The Chairman, Kalidas Madhavpeddi, emphasized the non-negotiable nature of acting in accordance with the company's values, code of conduct, and the law to protect and enhance its reputation. CEO Gary Nagle highlighted the company's ongoing efforts to enhance the Programme and embed ethics and compliance across its global operations, with significant investments in systems and personnel.
Glencore is committed to leveraging lessons from past misconduct to drive ethical business practices and address corruption in the extractive industry. The company, with a strong global presence and over 150,000 employees and contractors, is a major producer and marketer of more than 60 commodities, supporting decarbonization and meeting current energy needs. It also provides financing, logistics, and other services to producers and consumers of commodities.
Furthermore, Glencore is actively engaged in initiatives such as the Voluntary Principles on Security and Human Rights and the Extractive Industries Transparency Initiative. The company is dedicated to supporting the global effort to achieve the goals of the Paris Agreement and has outlined ambitious targets to reduce its industrial emissions, aiming for net zero industrial emissions by 2050.
For further information, investors and media can contact Martin Fewings and Charles Watenphul, respectively. The company's comprehensive 2023 Annual Report and the newly published Ethics and Compliance Report are available on its website.