Ethics

The Code of Ethics and Conduct, revised in 2023, to address the applicable regulatory changes, is one of the main expressions of Galp´s corporate culture, guiding the personal and professional behavior of all people of the Group, regardless of the position or function they perform, as well as the relationship between employees and shareholders, investors, customers, suppliers, and representatives of the communities with which Galp interacts.

The Code of Ethics and Conduct therefore outlines the fundamental ethical guidelines applicable to all stakeholders, namely:

Suppliers and Partners

• We introduced a standard clause in the counterparty agreements which binds business partners to the provisions of our Code of Ethics and Conduct, in order to, namely, prevent corruption, money-laundering and financing of terrorism and safeguard human rights.
• We apply restrictive rules both to suppliers and customers, so that some are not privileged over others.
• We assure equality, reciprocity and proportionality.
• We promote the observance of safety regulations and practices in force, with particular attention to taking preventive security measures of persons and property.
• We select and hire suppliers obeying transparent, fair and impartial, catering not only to commercial terms, but also the ethical and professional behavior.

Shareholders

• We make available to everyone, including minority shareholders, the same information with the same degree of transparency.

Employees

• We emphasise respect for colleagues, non-discrimination, good environment, good working conditions and reciprocity.
• We promote training activities in the context of concerns and behavior on issues of ethics, preventing corruption and safeguarding human rights.
• We develop internal and external communication to raise awareness upon the issues of ethics, anti-corruption and transparency.
• We embed the values and principles of conduct and ethics prevailing in the Company in young employees (trainees) day-to-day activities.
• We provide training on the subject of ethics and conduct.
• We provide internal conferences on topics related to sustainability, ethics and gender equality.

Authorities Institutions and Local Communities

• We are committed to contribute to improving the quality of life and socioeconomic development of the communities in which we operate.
• We are committed to ensure the environmental protection of projects, enterprises and products throughout their lifecycle, as well as the efficient use of energy and the incorporation of safe and innovative technologies in the management of the activities in the different geographic areas where we are present.
• We are committed to cooperate with several institutions of this nature to promote technological development and the promotion of more sustainable technologies, serving the present needs of local communities without compromising the ability of future generations to also meet theirs.

Clients

• We develop processes that allow us to achieve standards of excellence in providing services to our customers in the sectors in which we operate.
• We clearly and unequivocally provide our customers with information on products and services so as to support them in the buying decision.
• We are committed to implementing and developing relationship models with our customers that enable us to take into account their opinions and suggestions for the improvement of the quality, safety and suitability of the products and services offered.
• We implement the best practices to ensure the quality of products along the value chain, through rigorous methodologies for planning, monitoring and quality assessment.
• We commit to assure that our customers’ personal data is not used without their consent, provided such consent is not legally required or its use is made in accordance with applicable law.