Code of ethics and Model 231

Photo above: Tunnel on the A3 Salerno - Reggio Calabria

Code of ethics

The Code of Ethics summarizes the principles to which PSC aspires in its relationships with all of its Stakeholders, acting as a guarantee of reliability to protect the Group's assets as well as its reputation. It is based on specific responsibilities and social commitments, in line with the highest ethical standards, allowing the company to pursue its mission and objectives, while operating in an ethical and socially responsible manner.

Honesty, fairness, integrity, transparency, impartiality, confidentiality, respect and protection of the environment, protection of health and safety in the workplace: these are the fundamental values identified by the Code of Ethics, around which PSC develops its activities and corporate policies.

The recipients of the Code of Ethics are those who influence - or are otherwise affected by - the Group's activities: investors, directors, employees, contractors, customers, suppliers, civil community.
Download codice etico versione UK

Model 231

Legislative Decree 231 of 2001 introduced into Italian law the principle of responsibility of entities and companies, identifying the relevant provisions.

This decree provides for a presumption of responsibility of entities and companies in certain types of offences committed by their directors, officers, employees and/or contractors in the exercise of their functions, including:

- offences with regard to the protection of health and safety in the workplace;
- offences such as crimes against the Public Administration (e.g. bribery of public officials in order to obtain a contract,
  concessions/authorizations, etc.), corporate crimes (i.e. false corporate communications) and crimes of receiving stolen goods,
  money-laundering, etc.

In relation to these offences, Legislative Decree 231 provides for significant fines and disqualification for entities and companies, unless they have adopted suitable Organisational, Management and Control Models designed to prevent their commission.

The Organisational, Management and Control Model is therefore a document describing the organizational processes adopted by entities/companies to prevent and minimize the risks arising from failure to apply the law, and as such represents a structured and organic system of prevention, deterrence and control, aimed at:

- developing an awareness in individuals (directors, employees and collaborators) who are involved in sensitive activities, of the possibility
  of committing an offence;
- excluding, or at least limiting, the administrative liability of the entity and/or the company.

Lastly, the decree provides for the adoption of a disciplinary system to punish non-compliance with the measures indicated in the Organisational, Management and Control Model. In particular, this system identifies possible offences and defines sanctions and the methods of application to be taken against persons (employees or third parties) responsible for unlawful conduct or breach of the rules contained in the documents that make up the model.

The task of supervising the functioning and compliance of the Organisational, Management and Control Model, as well as its updating, is entrusted to a Supervisory Body (SB) identified by the Board of Directors, which has independent initiative and control powers although it can not take any action on the structure of the entity and/or Company or sanction employees, collaborators or corporate bodies, as these actions are delegated to the corporate bodies or competent corporate functions.