GC recognizes the important of being in complied with business ethics, regulations, rules and standards, as well as monitoring and evaluation the compliance of its operation to prevent any possible impact to its business. For example, affect to GC's reputation, penalty fine, or lost its license to operate.
Therefore, GC has committed to operate its business in compliance with Business Codes of Conduct and Corporate Compliance Policy, which involves the board of directors, executive managements and relevant stakeholders, including, suppliers, customers and other companies. (Corporate Compliance Policy) Moreover, GC has committed to conduct the compliance reviews to minimize risks from non-compliance with regulations, rules and international standards related to its business. These will uphold company's reputation and reliability to all stakeholder groups.
Implementation of Business Codes of Conduct and Corporate Governance
GC has developed the Corporate Compliance Policy as a reference for GC executives and employees to strictly comply with corporate policy, rules, and regulations. It also acts as a support for the supervisor to become a role model in the organization. In the case of any inquiries regarding the Corporate compliance and regulation, employees can contact their immediate supervisors or relevent business functions, namely Corporate Compliance department or law department, where employees can provide comments or complaints on certain aspects of corporate compliance, including but not limited to antitrust or competition law via email@example.com.
Moreover, GC has provided the Business Code of Conduct handbook as well as provided training and seminar to all GC's executives, employees, suppliers, subcontractors, subsidiary and joint ventrues company, which including companies that GC holds less than 51% of the stockholder. As the training completes, the stakeholders are required to acknowledge and sign an agreement to abide. In 2021, GC has advocated four companies, including, GC Marketing Solutions Company Limited (GCM), GC Logistics Solutions Company Limited (GCL), GC Glycol Company Limited (Glycol) and PTT Phenol Company Limited (PPCL) to participate and be certified as member of "Thai Private Sector Collective Action Coalition against Corruption (CAC) Participation"
In 2021, due to the COVID-19 pandemic, GC has adjusted the training method of the Business Codes of Conduct and Corporate Compliance to GC's board of directors, executives and employees from face-to-face training to classroom training or online training in order to comply with social distancing and diminish the safety risk for all employees. Training for employees, such as Understanding and Compliance to Law, Rule & Regulation related to Subsidiary, and Comply with Corporate Compliance Policy and Code of Conduct, has been organized to ensure employees' understanding on updated information, which is necessary and related to their operations. The Topics of training includes,
- Antitrust Law / Competition Law Policy
- Anti-Corruption and Anti-Bribery Policy
- Human Rights Policy
- Intellectual Property Policy
- Anti-Money Laundering and Combating the Financing of Terrorism Policy
- Confidentiality of Information Policy
- Other Laws, Rules, and Regulations, which Concern Business of GC and GC Group Policy
Monitoring Subsidiary's Corporate Compliance System
GC annually monitors subsidiary's corporate compliance and shares knowledge on the corporate governance and business code of conduct. The knowledge-sharing platform can be done through the training sessions under the cooperation between the subsidiary's GRC functions (Governance – Risk Management and Internal Control – Compliance). These are to ensure that the subsidiaries are complied with the corporate governance and business code of conduct policy and guideline, and relevant laws, rules and regulations. The recommendations acquire from the evaluation will be used in collaborative improvement with the subsidiaries.
GC has established the Code of Conduct & Compliance Policy and Monitoring Checklist Project in order to assess the practices of compliance policy that are part of GC Way of Conduct, which could reduce the compliance risk. As a result in 2021, 100 percent of the subsidiary has complied with GC's corporate compliance policy in 2021.