Ethics and Conduct Committee

Composition

The Ethics and Conduct Committee is composed of:

  • Head of Legal Affairs and Governance
  • Head of People Department
  • Head of Internal Audit
     

Powers and operation

The Ethics and Conduct Committee is an independent and impartial internal structure responsible for monitoring the implementation of the Code of Ethics and Conduct, as well as to follow up and clarify doubts, and receive and process information sent to it under the Reporting of Irregularities Procedure - Ethics Line (”Open Talk”), concerning alleged irregularities or violations of the provisions of the Code of Ethics and Conduct or other internal regulations or rules dealing with the accounting, internal accounting controls, auditing and the fight against bribery, banking and financial crime. It is also responsible for promoting the training of the employees in these matters. For more information, please see Ethics and Conduct and Reporting of irregularities pages.

Galp’s Audit Board is the governing body that oversees the proper operation and implementation of the Code of Ethics and Conduct through the frequent and regular reporting of the Ethics and Conduct Committee.

During the year 2017, the Ethics and Conduct Committe held four meetings for analysing and deciding on forwarding reports of irregularities that were received and participated in three meetings of the Audit Board, during which the due report was provided to this body.

In 2017, under the Irregularities Communications Policy, 12 cases were reported through the Ethics Line opentalk@galpenergia.com to the Audit Board. About 70% of all reports received were addressed and resolved by the Ethics and Conduct Committee and by the Audit Board by 31 December 2017. From the communications received, 3 were related to fraud, 3 to labor, 4 to ethics, 1 to ethics/labor and 1 to fraud and ethic/labor.