Glencore  publishes its first Ethics and Compliance Report. It provides a detailed overview of Glencore’s Ethics and Compliance Programme, including a summary of our approach, compliance structure, and the various systems and processes that we implement to support our programme and promote an ethical culture.

The report addresses areas of interest to both external and internal stakeholders, particularly given the challenges Glencore has faced as a Group over the last few years arising from our ongoing investigations.

Glencore has invested significant resources starting before the investigations commenced to build and implement a best-in-class programme and has made significant investments in compliance personnel, systems and external assurance.

We believe that a strong Ethics and Compliance Programme grounded in our Values is critical to ensuring we are a responsible and ethical company, and a trusted business partner. We want to be transparent about the challenges we face, how we learn from them and how we use them as an opportunity to improve and push ourselves to do better.

Kalidas Madhavpeddi, Chairman, said: “The Board and the executive leadership team are committed to leading a company that delivers value for our employees and stakeholders by operating transparently under a well-defined set of Values, with openness and integrity at the forefront. It is important for all our stakeholders to have a detailed explanation of the work that we do to achieve these aims.”

Gary Nagle, CEO, said: “The changes we have made to our Ethics and Compliance Programme, and the corresponding focus on making the importance of ethics and compliance more visible across the business, have substantially reinforced our overall compliance tone, culture, and commitment.”