Because of its worldwide business activities, Evonik is facing a particular challenge to observe all applicable rules. To be successful in international business, we have to carefully comply with many different legal requirements and cultural conventions.
House of Compliance
The importance which Evonik’s legal representatives and employees attribute to complying with rules and their compliance with rules are determined by the Compliance Culture within the organisation, which is in turn largely determined by the Evonik Code of Conduct. The Code of Conduct summarises the organisation’s basic corporate values and ethics and regulates the conduct of Evonik, its legal representatives and employees both in relation to one another and in relation to partners, the public, authorities and governmental bodies and organisations. The Code of Conduct promotes a culture of clearly defined responsibilities, mutual respect and trust, accountability and honesty. The development and management of the Code of Conduct are the responsibility of the Chief Compliance Officer.
The purpose of Evonik’s Compliance Management System is to ensure that rules are observed, violations are detected and remedied in a timely manner and statutory obligations are complied with. The adequacy and effectiveness of the Compliance Management System shall be reviewed on a regular and process-independent basis. The purpose of this review is to identify any potential deficiencies in the Compliance Management System and, if applicable, to identify possibilities for enhancements and further development of the same.
The compliance issues identified as being of specific relevance to our company form the basis of compliance management and are bundled in a House of Compliance. Alongside traditional compliance aspects such as antitrust law, foreign trade law, anti-corruption measures and data protection, as a technology-driven specialty chemicals company, issues of relevance to us include the environment, safety, health, quality, the protection of intellectual property, and IT compliance. In 2011, we added capital market compliance to the issues grouped at the House of Compliance. This extensive approach to compliance is the result of a risk analysis conducted with external support.
The relevant specialist departments bear responsibility for the various issues. The establishment and ongoing development of the House of Compliance is coordinated by the Chief Compliance Officer, who operates autonomously and reports directly to the Chairman of the Executive Board. He is supported in all major issues by a Compliance Committee, an internal advisory committee composed of the heads of the various specialist departments, and Corporate Audit. Compliance officers in the business units and regions ensure close integration of our business activities.