Our governance system is inspired by the principles of integrity and transparency
Our corporate governance system, based on the traditional administrative type model and in line with international best practices, is a key tool for achieving an efficient management of the company , while providing an effective system for monitoring the Company’s activities, consistently with the objectives of creating value for the shareholders and protecting the interests of all stakeholders.
We chose to adopt a governance system inspired by the principles of integrity and transparency, consistently with statutory requirements and the relevant construction and building regulations, and in line with the recommendations of the Corporate Governance Code for unlisted companies.
Our Team
We are led by a visionary Managing Director who is supported by a talented and experienced management team. Our Team comprises of highly skilled Engineers, Financial analysts and business development managers.
Code of Ethics
Our commitment to integrity and ethical business practices underpins everything we do.
We have earned the trust of clients, employees, suppliers, stakeholders and communities in which we work by pursuing our mission: to construct a sustainable future, applying the most innovative solutions to build large and small infrastructure and by treating people fairly and with dignity and respect.
Rooted in our values and inspired by our vision, our Code of Ethics is a compass to help us understand the ethical principles that guide our business activities. However, our Code does not encompass every situation that we may encounter. Rather, it outlines the general ethical principles that will help each of us to make the right decisions when conducting our business activities.
Our Code of Ethics is a guide designed to help all our employees of and the subcontractors, suppliers, consultants, intermediaries and agents acting on our behalf to connect with our values and provide expectations for our everyday behaviour. The Code is where we find direction on how to interact with each other, our clients, the communities in which we work and with other stakeholders in our daily work. It is the place to start when we face an ethical dilemma, and it provides information on whom to contact when we have questions or concerns
DIVERSITY & INCLUSION
We strive to be a company where people, ideas and beliefs from every background are treated, valued, and considered based on their own individual merits and contributions. Furthermore, we acknowledge and promote the diversity of the our people as an essential element for company growth.
The scope of diversity and inclusion encompasses not only differences in gender, but also variety in religious faiths and beliefs, political opinions, abilities, education levels, socioeconomic backgrounds, cultures and much more.
As an equal opportunity employer, we do not tolerate discrimination based on these grounds or any others protected by applicable law. Maintaining a diverse and inclusive workplace is critical to ensuring an environment in which professionalism can be pursued to the highest level, giving our company the strength to lead in our sector.
FAIR AND FAVOURABLE WORKING CONDITIONS
Fairness is a foundational principle of all ethical behaviour. We ensure all employment relationships are based on mutual benefit by meeting or exceeding the requirements of all laws and agreements that set standards and expectations for the treatment of employees and the conditions of the work environment.
In accordance with the International Bill of Human Rights of the United Nations and the Fundamental Conventions of the International Labour Organisation, we ensure working conditions are respectful of the human rights and fully rejects any form of illegal, child, forced or bonded labour, or practices that constitute modern forms of slavery and human trafficking.
We strive to maintain a positive working environment where people’s dignity and integrity are protected. As part of this commitment, we conduct our operations in order that safety comes first, provide compensation in accordance with prevailing wage legislation and seek to develop the Webuild Persons through training and professional development.
GOVERNMENT CONTRACTING & CLIENT RELATIONS
We base our contractual relations on fairness, transparency and equity, forbidding any exploitation of potential weaker contractual powers or untruthfulness of facts and conditions to improperly influence clients during negotiations.
Our company forbids actions carried out to obtain confidential information protected by Law. Any action aimed at inducing, even if only potentially, clients or their representatives to commit or fail to carry out actions in breach of the current Law of their relevant legal system is forbidden.
We are convinced that a constant, open and transparent dialogue with representatives of the Offices and private clients is a fundamental aspect of a good result for the project. It is critical that we are aware of and adhere to any and all requirements that come from working on infrastructure projects and thoroughly understand clients’ expectations.
We are also engaged in projects financed by supranational institutions, such as Multilateral Development Banks like the Word bank, EIB etc.. In these instances, our Persons and Partners must commit to comply with regulations of such clients, as well as specific expectations of the financial entities.
We discourage work relations with employees in public offices or former public office employees or their relatives, who personally and actively participate or participated in business negotiations or requests for authorisations made by IQR to Government , except in the circumstances provided for by law.
AS AN IQR PERSON OR PARTNER YOU SHOULD:
- Interact with representatives of Public Offices or the private client with in an honest and transparent manner;
- Be aware and respect Clients’ policies and procedures as well as requirements;
- Identify yourself openly and correctly as representing IQR and mention your specific function.
- Promise or offer to representatives of Public Offices or private clients any benefit aimed at obtaining advantages for Webuild;
- Solicit confidential information to gain improper advantages in the course of a bid;
AND YOU SHOULD NOT:
- Misrepresent your status or the nature of your inquiries to representatives of the Public Offices or the private client;
- Provide false or misleading information to representatives of Public Offices or private clients.
FRAUD, DECEPTION & DISHONESTY
Any informed decision requires a full understanding of the situation at hand. Misrepresentations of any kind deprive others of such understanding. Webuild strives to ensure that business activities are conducted with openness and honesty at all times.
The public trust and confidence that honest behaviour and communication create are more valuable over the long-term than any immediate profits we could gain from a short-sighted dishonest scheme.
We undertake daily to guarantee the observance of competition regulations of any jurisdiction, and to collaborate with market regulatory authorities, in full compliance with fair competition principles and abstaining from carrying out collusive and illegal behaviour, should its position be dominant.
IQR forbids any collection of information on competition (e.g., activities, production methods, technologies) carried out illegally or contrary to ethical principles (e.g., theft, corruption, false declarations, E-espionage).
In the same way that the public relies on our integrity, the company relies on your integrity. Management needs good and accurate information in order to make the best decisions for the company. Providing inaccurate or non-timely information leads to mismanagement that ultimately hurts all of us.
While occasional mistakes are inevitable and acceptable, lying about them or trying to conceal them is unacceptable. If you are ever asked or told to lie or provide false information, do not comply and report the incident to IQR management.
AS AN IQR PERSON OR PARTNER YOU SHOULD:
- Always communicate honestly, openly, and with appropriate discretion;
- Ensure the accuracy of data in all reports by checking it multiple times;
- Quickly report any problems or errors to the appropriate parties for resolution.
AND YOU SHOULD NOT:
- Lie or knowingly submit false information to clients, auditors or Public Offices;
- Mislead or misdirect auditors or investigators;
- Omit relevant or pertinent information when responding to questions or addressing issues;
- Ignore anything you think might be fraudulent.
ANTI-BRIBERY & CORRUPTION COMPLIANCE
There are opportunities for bribery to occur at virtually every phase of a construction project, whether domestic or international.
Tendering and procurement is the stage of a construction project that is often considered to be the most vulnerable to bribery. An obvious example is the payment of bribes to a representative of, or an advisor to, the employer or a government to secure a contract. Further down the contractual chain, subcontractors could bribe an employee of the main contractor to win a subcontract, or a supplier could bribe the main contractor to ensure that it chooses them instead of a rival supplier. Notwithstanding the illegality of such payments, they will inevitably affect the value and quality of the work being procured.
Various opportunities for bribery arise during the construction stage. For example, often on construction projects we will import goods and materials, and sometimes “facilitation payments” may be required to get these through customs.
Another example could be where substandard materials are used or substandard work is carried out in order to save money. Some of the money saved is then used to bribe the relevant checkers to sign off the substandard materials or work as acceptable. As most works or materials on construction projects are eventually covered up by other components, the substandard materials and work can be easily concealed.
As we are aware of the above, we have set forth prohibitions and limitations in form of Policy which has been developed to guide all Employees in their interactions with Government Officials as well as with individuals in the private sector.
We are committed to upholding the highest legal, moral and ethical standards in all of our business dealings in all jurisdictions in which we conduct our business.