Friday, September 22, 2023

Eni vs G20/OECD Principles of Corporate Governance

 

Eni say it "follows" and "accepts" the G20/OECD Principles of Corporate Governance that guides companies in this way:

Stakeholders, including individual workers and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and/or to the competent public authorities, and their rights should not be compromised for doing this.

Unethical and illegal practices by corporate officers may not only violate the rights of stakeholders but also be detrimental to the company in terms of reputational effects. It is therefore important for companies to establish a confidential whistleblowing policy with procedures and safe-harbours for complaints by workers, either personally or through their representative bodies, and others outside the company, concerning illegal and unethical behaviour.

The board should be encouraged to protect these individuals and representative bodies and to give them confidential direct access to someone independent on the board, often a member of an audit or an ethics committee.

Some companies have established an ombudsman to deal with complaints. Relevant authorities have also established confidential phone and email facilities to receive complaints. While in certain jurisdictions representative workforce bodies undertake the tasks of conveying concerns to the company, individual workers should not be precluded from, or be less protected, when acting alone.

In the absence of timely remedial action or in the face of reasonable risk of negative action to a complaint regarding contravention of the law, workers are encouraged to report their bona fide complaint to the competent authorities.

Many jurisdictions also provide for the possibility to bring cases of alleged violations of the OECD Guidelines for Multinational Enterprises to the relevant National Contact Point. The company should refrain from discriminatory or disciplinary actions against such workers or bodies.


So, why does Eni, in my case, doesn't fulfill this "International Commitment"? 



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