Ethical management based on integrity is a core principle for Hanwha, driving our internal ethical and responsible management standards.
Hanwha Group, a company committed to our community since our foundation, has prioritized qualitative growth and is actively practicing ethical management to build a more transparent and ethical foundation.
In 2018, we established the Hanwha Compliance Committee to improve corporate governance through increased transparency in management, instilling a foundation for responsible management and strengthening board-centered management. In response, our major affiliates are taking active steps, such as gradually excluding prior Hanwha Group employees from eligibility for external director positions, strengthening the independence of their external directors, promoting transparent management, improving corporate governance structures, and cultivating a management style that is friendly to shareholders.
In July 2018, Hanwha Group established the Hanwha Compliance Committee to promote Group-level corporate compliance. This committee was driven by the internal efforts of Hanwha Group employees and executives who actively practice Hanwha’s “Going Further Together” philosophy, which is based on compliance and ethical management.
The Hanwha Compliance Committee aims to attain the global standard for corporate compliance management through its comprehensive programs, such as internal policies, educational programs, corporate diagnosis, and implementation. Further, the group firmly supports Hanwha’s affiliates in their practice of self-management and will promote a voluntary compliance management culture in each workplace.
The Hanwha Compliance Committee is a consultative body that promotes
compliance management for all Hanwha affiliates by establishing Group-level policies.
We inspect and provide support to each affiliate regarding the implementation of these policies.
The Hanwha Compliance Committee is responsible for ensuring
compliance within Hanwha Group by providing compliance education, developing
self-compliance guidelines, and disseminating compliance-related messages.
The Hanwha Compliance Committee organizes training programs to develop a voluntary corporate compliance culture among its employees and strengthen the relevant expertise of compliance personnel. In addition,
the committee is expanding and upgrading training curricula suitable
for each affiliate's respective business area and duties.
The Hanwha Compliance Committee prepares and distributes compliance guidelines for each of the major regulations and applicable laws annually while advising each affiliate to develop its own set of compliance guidelines based on its respective business needs.
The Hanwha Compliance Committee assists each affiliate with their respective self-inspection and improvement activities, helping them proactively identify and address any potential risks. Furthermore, the Hanwha Compliance Committee has established an external reporting system through which all internal and external stakeholders can request an investigation. The applicable affiliate receiving such a request can take all appropriate measures in the event of illegal management activity.
The Hanwha Compliance Committee selects timely topics on compliance management and distributes relevant messages to each of the affiliates, contributing to employee awareness of compliance issues and compliance culture within the group.
The Hanwha Compliance Committee reviews and supplements the work plans of each compliance organization within Hanwha’s affiliates. Additionally, the Hanwha Compliance Committee evaluates affiliate work performance every year based on this review to manage and support compliance in the workplace.
In his 2021 New Year’s address, Hanwha Chairman Seung Youn Kim explained, “Many global companies have set environmental, social, and governance (ESG) standards for their operations as part of their corporate behavior. As a global leader in renewable energy, we have to proactively tackle climate change and lead the environmental efforts that will take us into a zero-carbon era.”
To achieve this goal, we have implemented various management strategies to enhance sustainability and strengthen ESG management at a global level.
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