Communication on Progress

Communication on Progress

Participant
Published
  • 04-Sep-2015
Time period
  • January 2014  –  December 2015
Format
  • Stand alone document – Basic COP Template
Differentiation Level
  • This COP qualifies for the Global Compact Active level
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer

  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • To our stakeholders:

    On behalf of Louis Dreyfus Commodities, I am very pleased to reaffirm the Company’s support of the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption.

    I am also very pleased to be able to post our Sustainability Report as part of Louis Dreyfus Commodities’ Communication on Progress for the last year, in addition to a section detailing our efforts and progress in combatting corruption in our various value chains.

    Sincerely Yours

    Claude Ehlinger
    Deputy Chief Executive Officer
    and Chief Financial Officer
    (acting CEO)
    Louis Dreyfus Commodities

Human Rights
  • Assessment, policy and goals

  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • Please find below link to LDC 2014 Sustainability Report that covers elements related to Human Rights

    http://www.ldcom.com/global/en/investors-media/reports-and-publications/sustainability-report-2014-interactive/

  • Implementation

  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • No answer provided.
Labour
  • Assessment, policy and goals

  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • As per previous section, please find below a link to LDC's 2014 Sustainability Report that covers Labour issues

    http://www.ldcom.com/global/en/investors-media/reports-and-publications/sustainability-report-2014-interactive/

  • Implementation

  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • No answer provided.
Environment
  • Assessment, policy and goals

  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • Please find below a link to LDC's 2014 Sustainability Report which covers Environment issues

    http://www.ldcom.com/global/en/investors-media/reports-and-publications/sustainability-report-2014-interactive/

  • Implementation

  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates environmental performance.

  • No answer provided.
Anti-Corruption
  • Assessment, policy and goals

  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • During the course of the last reporting year, Louis Dreyfus Commodities has significantly increased measures to promote good trade practice and combat corruption in all of the markets and businesses in which the Group operates.

    The Compliance function has grown as the size and geographical reach of our activities has expanded and regulatory requirements have increased. We have a specialized department focusing on anti-corruption and bribery, responsible for policies and controls for the avoidance of corruption, and making sure our Group refrains from any business activity that does not uphold our ethical standards as stated in our Code of Conduct. This function consults on trade practice compliance, training, risk mapping, the selection of adequate business partners and our policy on whistle blowing. We have also strengthened the governance structures that determine how compliance and risk issues are managed.

    The Louis Dreyfus Commodities Code of Conduct states:
    “Employees are prohibited from offering, promising, authorizing, making or receiving from customers, suppliers, public officials or any other business relations or partners, either directly or through a third party, any inappropriate pecuniary or other benefit and in this respect must always comply with applicable laws and regulations.” In addition, it states that, “Gifts and entertainment may be offered and received to strengthen business relationships only if they are of modest value and aligned with local business practice and laws and the policies applicable in the companies concerned. In case of doubt, employees should obtain the management’s approval.”

    Louis Dreyfus Commodities uses a number of different approaches to ensure our employees are adequately and correctly trained for the functions they perform and are aware of the legislation affecting the Group’s business.

    E-learning modules have been designed to address compliance-related topics, such as the Group’s Code of Conduct and anti-bribery and corruption rules. Training materials and additional guidelines are prepared and made available to specific teams in the context of formal awareness and training sessions.

    Furthermore, a dedicated weekly compliance newsletter informs Louis Dreyfus Commodities staff of any external or internal developments and policy changes. A series of internal seminars have taken place on a global basis, and will continue to do so as new measures are introduced that address similar subjects.

    Louis Dreyfus Commodities has also created a dedicated Compliance Monitoring department to ensure the adequate implementation of our compliance policies. In addition, it employs a global Internal Audit department with officers located in all of the regions in which the Group operates. As well as assessing and advising on better commercial and operational practices throughout our business units, this team is specifically charged with an assessment of corruption risk in all of our value chains.

    The Global Head of Compliance and Internal Audit is also heading a monthly Compliance & Internal Audit Committee, a committee comprised of the most senior officers in the Company

  • Implementation

  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • No answer provided.
  • Measurement of outcomes

  • Description of how the company monitors and evaluates anti-corruption performance.

  • No answer provided.