Governance policy

Governance policy

The existence of policies and practices of corporate governance and operation shall support our commitment to do what is right by providing frameworks for implementing disclosure, integrity, trust and compliance in each of our activities

Our company is supported by various internal policies that provide guidance in applying the principles of good corporate governance. Some of the internal policies include the Charter of the BOC, Charter of the BOD, Charter of the Corporate Governance Committee, Charter of the Audit Committee, Charter of Internal Audit, and various internal policies and procedures.

As an illustration, the relationship between each of the above is as follows:

company policy hierarchy

  • Policies (POL): Determine, in general, common guidelines as well as the company’s principles and values.
  • Norms (NOR): Determine decision rights, general rules and limits of authority associated with a macro-process or matter that has relevance for PT Vale as a whole, complementing and detailing the policies when appropriate and in accordance with them.
  • Instructions (INS): Describe rules for processes interfaces (or interfaces between processes) and responsibilities that involve distinct organizational units, in accordance with Policies and Norms. There is a collegiate review by the BoD that is signed by the Process Owner responsible for the process and/or for the interface rules established in this document and the Chief Executive Officer (CEO).
  • Procedures: Refer to the detailing of a process.

Code of ethics and conduct

PT Vale has established its own Code of Ethics and Conduct (CoEC) as one of its commitments in implementing good corporate governance. The code consists of general rules of ethical conduct – both business ethics and work ethics. Included are guidelines and position statements on the basic principles of anti-corruption; avoiding situations that may cause a conflict of interest with the company; not partaking in harassment of any kind, including sexual or moral; and not consuming illegal drugs on any premises of the company. Employees at all levels are expected to behave in a manner that reflects the company’s values in achieving its vision and mission.

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