A world-class anti-corruption program
Safran was the first company in the French stock market index CAC 40 to be awarded the anti-corruption certificate issued by the French technology information agency ADIT (Agence pour la Diffusion de l'Information Technologique), based on an audit carried out from September 1 to December 15, 2012. This certification was conducted on the basis of standards approved by the SCPC (Service Centrale de Prévention de la Corruption), an interministerial corruption prevention department reporting to the Minister of Justice.
The certification is valid until December 2015, and recognizes the effectiveness of the processes deployed by Safran and our efforts over the last few years to upgrade our rules and procedures to establish them on a par with best-in-class international standards.
This certification will be applied to all Safran Tier-1 companies from now until 2017: Sagem and Morpho were certified in early 2014; Snecma and Turbomeca will be certified by the end of 2014; Messier-Bugatti-Dowty and Herakles in 2015; Labinal Power Systems and Techspace Aero in 2016; and Aircelle and Hispano-Suiza in 2017.
The certification audit, carried out in compliance with current international standards (ISAE 3000, International Standards on Assurance Engagements), entailed an evaluation of Safran's corporate culture and commitment to implementing the anti-corruption program, in particular:
- commitment by Safran's top management;
- a clear policy and broadly circulated code of ethics;
- deployment of a corporate trade compliance department and a network of Trade Compliance Officers;
- wide circulation of relevant information both within the company and externally, and an extensive training program;
- comprehensive, regular risk evaluation and management;
- deployment of checks and metrics to oversee the program.
Common Industry Standards
In line with our commitment to fighting corruption, Safran and all Group companies have signed the "Common Industry Standards for Anti-Corruption," drawn up by the Aerospace and Defence Industry Association of Europe (ASD). These standards are designed to foster practices that support and strengthens its members' integrity.
International Forum of Business Ethical Conduct
Safran is a member of the IFBEC (International Forum of Business Ethical Conduct) strategy committee. The IFBEC is an aerospace and defense industry association grouping leading U.S. and European companies. Based on the "Global Principles on Business Ethics" document, signed by Safran Chairman and CEO Jean-Paul Herteman, the association aims to promote and foster industry-wide ethical standards and best practices.
Safran has signed the United Nations Global Compact, applying in particular the 10th principle, "Businesses should work against corruption in all its forms, including extortion and bribery."
Safran also chairs the International Ethics Committee of MEDEF (the French employers' association), is a member of the ethics committee of ICC (International Chamber of Commerce), the Ethics Circle of the European Business Ethics Network (EBEN), and the Partnering Against Corruption Initiative (PACI) of the World Economic Forum, along with other organizations.
Safran’s trade compliance program
Safran has developed an uncompromising program to fight corruption and foster a culture based on honesty and fairness, within the scope of our continuous improvement initiative. The program has two main goals: to foster a sense of responsibility among the people involved, and to safeguard Safran's assets through efficient risk management.
All members of the Executive Committee and employees who are directly or indirectly concerned are regularly informed on these issues.
Trade Compliance Officers
Safran's Trade Compliance Officers (TCO) are delegated by their company CEOs to oversee the strict compliance of all business operations with the Group's anti-corruption procedures. They report to the Corporate Vice President for Trade Compliance and Export Control.
A corporate procedure for selecting and approving business partners
The selection and approval of business partners, as well as the procedure for checking gifts, invitations and sponsored trips, are strictly controlled. A corporate procedure clearly and precisely defines the responsibilities of employees, as well as the applicable rules. The procedure is regularly updated and expanded, and is circulated to all managers and staff concerned, along with external partners.
The procedure includes:
- The approval, management and control of lobbyists, who also have to comply with Safran's lobbying charter.
- An ethics clause, included in Safran's general purchasing terms and conditions, to be signed by our suppliers.
- Compliance due diligence for all mergers, acquisitions and joint ventures.
Control procedure for gifts, invitations or sponsored trips offered to or by customers, suppliers and other stakeholders.
This procedure specifies that the only purpose of these gifts and invitations should be to maintain good business relations, and must not, in any case, lead to a conflict of interest or influence a professional decision.
Safran Audit and Internal Control department
This department regularly audits Group companies to ensure that they comply with accounting procedures. In particular, the department checks the invoices sent by our business partners, makes sure that all payments to our suppliers correspond to the deliverables, and verify that the sums billed do not exceed market prices.