Pillars of Corporate Ethics and Integrity
Organisation’s Compliance Model
AEL has instituted a robust compliance system to act in accordance with ethics, integrity and all applicable laws and regulations. AEL’s ethics and compliance model establishes clear expectations from its workforce through the Code of Conduct, policies, communications and training on integrity and ethical business conduct. The programme seeks to gain trust with our key stakeholders by ensuring adherence to all relevant laws and compliance requirements.
Safeguard
- Regular Risk assessment and management
- Comprehensive policies, procedures and protocols
- Training and communication
Monitor and Identify
- Whistleblower/vigil mechanism
- Grievance mechanism
- Regular internal and external reviews of compliance controls
Resolve
- Thorough investigation of reported grievances and whistleblowing complaints
- Implementation of corrective measures and compliance controls
Ethics and Compliance Governance
Our Compliance Officer supported by Internal Auditor is responsible for providing oversight and ensuring implementation of compliance practices and protocols, to improve transparency and accountability. The Compliance Officer supported by Internal Auditor provides periodic updates to the Audit Committee of the Board regarding the compliance status and effectiveness of existing controls.
Policy Commitments
(GRI 2-23)
We have adopted a comprehensive framework of governance policies to not only ensure compliance with statutory regulations but also to transcend them and adhere with best practices in management of sustainability topics. The policies are reviewed and approved by the AEL’s Board which is also the highest governance authority at AEL. We conduct regular trainings for our employees, workers, suppliers and contractors on various environmental, social and governance aspects of the operations, including environment, health and safety, cybersecurity, anti-bribery and anti-corruption, human rights, code of conduct.
Environment
| Policy Name | Focus Points | Stakeholder Groups in scope | Board-level authority responsible for development & review of policy |
|---|---|---|---|
| ESG Policy | Sustainability, climate change mitigation, energy and water management | All Employees, Investors, Customers, Community | CRC, RMC, CSRC |
| Climate Change Policy | Climate risk management strategies, aligned with global best practices | Government, Employees, Investors | CRC |
| Environment Policy | Environmental performance improvement and responsible resource consumption | Government, Employees, Community | CRC |
| Energy Management Policy | Energy efficiency and renewable energy sources | Investors, Government, Employees | CRC |
| Biodiversity Policy | Integrates biodiversity protection into business strategy | Employees, Community, Suppliers | CRC |
| Resource Conservation Policy | Judicious use of resources, efficiency in procurement and supply chain | Suppliers, Community, Customers | CRC |
| Waste Management Policy | Sustainable waste management practices across waste types | Suppliers, Community, Customers | CRC |
| Water Stewardship Policy | Comprehensive water management, optimisation, and risk engagement | Suppliers, Community, Customers | CRC |
Social
| Policy Name | Focus Points | Stakeholder Groups in scope | Board-level authority responsible for development & review of policy |
|---|---|---|---|
| Diversity, Equity, Inclusion Policy | Diverse representation and inclusive culture | All Employees, Investors | SRC, CRC |
| Human Rights Policy | Compliance with international human rights standards | All Employees, Suppliers | CRC |
| Occupational Health & Safety Policy | Creating a safe workplace for employees and wellbeing of communities | All Employees, Communities | CRC |
| Corporate Social Responsibility Policy | Positive social and environmental impact, compliant with legal standards | Communities | CSRC |
| Freedom of Association Policy | Respect for rights to freedom of association and collective bargaining | All Employees | CRC |
| Prevention of Sexual Harassment Policy | Dignity and respect at workplace, prohibits unwelcome behaviour | All Employees | CRC |
| Stakeholder Engagement Policy | Transparent communication with stakeholders to establish sustainable relationships | Community, Customers, Investors | SRC |
| Employee Grievance Management Policy | Formalised process for addressing employee concerns fairly | All Employees | CSRC |
| Supplier Code of Conduct | Lawful, professional, and fair business practices with suppliers | Suppliers | CRC |
Governance
| Policy Name | Focus Points | Stakeholder Groups in scope | Board-level authority responsible for development & review of policy |
|---|---|---|---|
| Code of Conduct | High standards of business and compliance with laws | Board of Directors, Seniors Management and all employees | CRC, RMC, CSRC, SRC, LRTC |
| Board Diversity Policy | Diverse backgrounds and perspectives of Board members | Board of Directors | Board |
| Remuneration Policy | Competitive pay, clear performance benchmarks | Employees, KMPs, Directors | NRC |
| Cyber Security and Data Privacy Policy | Protects IT infrastructure and data privacy | Employees, Customers, Investors | IT and Data Security Committee |
| Whistle Blower Policy | Framework for secure whistle blowing, protection for stakeholders | All Employees, Communities | Audit Committee |
| Anti-Corruption and Anti-Bribery Policy | Ethical business practices, strict action against non-compliance | Employees, Government | Audit Committee |
| Prohibition of Insider Trading | Ethical business practices, strict action against non-compliance | Directors, Employees, connected persons | Audit Committee |
| Related Party Transaction Policy | High standards of business and compliance with laws | KMPs, Directors and other related parties | Audit Committee |
NRC: Nomination and Remuneration Committee
CRC: Corporate Responsibility Committee
CSRC: Corporate Social Responsibility Committee
RMC: Risk Management Committee
SRC: Stakeholders’ Relationship Committee
LRTC: Legal Regulatory & Tax Committee
