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▶️Integrity and Ethics
Since integrity governance is an essential element for corporate sustainability, "Integrity" is one of WPG Holding's shared values for corporate governance and employee conduct. We formulated the Ethical Corporate Management Best Practice Principles and Code of Ethical Conduct as the important basis for the company to implement ethical management, which clearly stipulates the provisions on avoiding the conflict of interests, grievance mechanism and punishment. The company also established Ethics Committee in order to manage and plan integrity governance strategy. In order to promote ethical behavior provisions, WPG formulated the "Employee Code of Conduct" and "Employee Consent" to implement its ethical concept of "Self-Discipline for the Good of Others" for all employees.
Ethics Committee
For the purpose of implementing the Ethical Corporate Management Best Practice Principles, WPG Holdings established the “Integrity and Ethics Committee” in 2017, with the CEO of the WPG Holdings as the chief convener and the CEOs of each group as members. The Committee meets from time to time to analyze and discuss violations and response measures, and to discuss various issues and related work progress.
Executive Secretary Group of the Ethics Committee
In order to implement the affairs and administrative operations assigned by the Integrity and Ethics Committee, certain functional units of WPG Holdings (Legal Affairs Service, F&A Service, Corporate Governance Office, Process Excellence Management Service, HR service, top executives, spokespersons, etc.) form the Executive Secretary Group of the Ethics Committee, which is responsible for system planning, management method development, and promotion to employees in order to implement the Ethical Corporate Management Best Practice Principles, Code of Ethical Conduct, Employee Code of Conduct, Corporate Governance Best Practice Principles and Anti-Corruption and Anti-Bribery Policy of WPG Holdings. The Committee shall report to the Board of Directors at least once a year. Meetings are held from time to time each year, and in 2023, WPG Holdings focused on the launch of a third-party reporting platform for stakeholders, the development of conflict-of-interest measures, the review of the achievement and implementation of external evaluation targets, and the discussion of related integrity issues.
Implementation of the Relevant Principles of Ethical Management
The amendments to the “Ethical Corporate Management Best Practice Principles” and “Code of Ethical Conduct” of WPG Holding have been approved by the Audit Committee and submitted to the Board of Directors for review and resolution. The “Employee Code of Conduct” was reviewed and revised by the Integrity Executive Secretarial Team, reviewed and resolved at the committee meeting. The implementation status of relevant standards was compiled and discussed in the T.I.P.E. management mechanism sharing meeting of WPG Holdings to ensure that the relevant standard requirements are accurately implemented and the standards and processes were aligned with the corporate operating procedures.
Education Training of Ethical Management Principles
WPG Holdings has formulated the "Ethical Corporate Management Best Practice Principles", "Code of Ethical Conduct" and the "Corporate Governance Best Practice Principles", which specifically regulate all employees. No matter the management level or the general employees, all must take note of the above principles and codes during the performance of their duties. We also integrate the DNA of ethical management into the daily operations through continuous education and training, internal advocacy, and auditing systems, in order to achieve stable development in corporate governance.
Regarding the topic of anti-corruption and anti-competitive behavior, with the purpose of letting the employees understand the laws and regulations to be abided by and the obligations to be performed in their duties, WPG Holdings began from the perspective of risk management, gradually planned relevant training courses, and established the internal platform to promote the information about the employees' ethical code of conduct; simultaneously implemented online courses and provided the relevant promotional materials or the course presentations on the occasions such as new staff training or monthly meetings. Therefore, the employees would acquire basic legal knowledge, such as confidentiality obligations, anti-corruption, insider trading prevention, etc. The main body covered specific codes of conduct and implementation methods.
WPG Holdings Employee Code of Conduct Implementation
Continuing the 2020 staff promotion activities of "WPG Holdings Employee Code of Conduct", the Employee Code of Conduct was amended for the second time on October 7, 2021, adding Paragraph 1, Article 12, a total of 33 codes currently. In 2023, through the learning platform of WPG Holdings, the promotion video and the Employee Code of Conduct are designated as compulsory courses for new employees. The employees must complete the reading during the probationary period, to fully understand the content of the code of conduct and agree as the signature. In 2023 a total of 252 people were completed.
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