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Sustainability

Ethics and countering corruption

In its daily operations LSR Group is guided by the principles of honest, transparent and ethical business conduct. LSR Group’s management closely monitors all matters related to combating corruption and all forms of abuse, including bribery and fraud.

Key targets and progress towards them

  2019 results 2020 targets 2020 results 2021 targets
Percentage of employees who have read the Code of Ethics 100% 100% 100% 100%
Percentage and number of responses to reports received via the Trust hotline 100%
(78 responses)
100% 100%
(51 responses)
100%
Number of confirmed incidents of corruption 0 0 0 0
Number and percentage of employees and counterparties informed about anti-corruption policies and procedures 100%
(9,162 employees and 3,819 counterparties*)
100% 100%
(9,453 empoloyees and 9,501 counterparties*)
100%
Percentage of business units assessed for corruption risks 100% 100% 100% 100%
Percentage of standard contracts with counterparties that contain anticorruption clauses 100%** 100% 100%** 100%

* Number of organisations that based on their reporting year scores were assigned customer-submitted ratings and certified as suppliers within the internal corporate information system at the new contract signing stage.

** Standard contracts signed with counterparties in reporting year. When renewing previously signed contracts, LSR Group makes sure the anti-corruption clause is in place and included in the existing contracts/agreements

Despite the pandemic-related restrictions that added to the complexity of certain processes, all the activities related to the identification, evaluation and prevention of risks were carried out in full, including all the on-site audits and inspections. This work made it possible to prevent cases of corruption and achieve our 2020 targets.

Approach

All business units at LSR Group regularly perform corruption risk assessment and develop appropriate mitigation measures. LSR Group operates the Trust hotline service, an anonymous tool for collecting and analysing information related to potential corruption or fraud, human rights abuses, unethical conduct, and other forms of misconduct. We foster a culture of zero tolerance towards corruption among LSR Group’s employees, as well as our counterparties and partners.

Key activities implemented on an annual basis

  • Developing action plans on preventing corrupt and other illegal activity
  • Assessing and analysing corruption risks at all LSR Group’s business units
  • Introducing initiatives to develop a culture of zero tolerance towards corruption:
    • Conducting regular meetings, preventive discussions and internal conferences with managers and employees of LSR Group,
    • Informing our contractors and partners about anti-corruption issues,
    • Organising special trainings for employees,
    • Introducing anti-corruption clauses in all standard contracts and agreements to be signed by employees and counterparties of LSR Group
  • Rotating employees who hold positions associated with a high risk of corruption
  • Maintaining a database to collect and process information about potential conflicts of interest among employees
  • Ensuring proper regulation of pricing mechanisms, which helps to prevent abuse
  • Ensuring effective operation of the Trust hotline
  • Improving the procurement process using our own e-procurement platform and procurement information system in order to ensure maximum transparency and openness and prevent corruption and unfair competition practices
  • Preparing reports on anti-corruption audits and implemented measures

In 2020, we assessed 6,753 counterparties for corruption, financial and reputational risks. Of them, 1,178 seemed unreliable due to financial instability, bad reputation or other factors. Breaking ties with organisations that seemed unreliable helped LSR Group’s entities lower potential adverse effects.

External regulatory documents
  • United Nations Convention against Corruption
  • Council of Europe Criminal Law Convention on Corruption
  • OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
  • United Nations Convention against Transnational Organised Crime
  • Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime
  • Federal Law No. 273-FZ On Countering Corruption
Internal regulatory documents
  • Code of Ethics
  • Human Rights Policy
  • Declaration of the Board of Directors on Countering Bribery
  • Regulation on Conflicts of Interest
  • Principles for Countering Corruption
  • Directive from the CEO of LLC LSR on specific Measures for the implementation of the Federal Law On Countering Corruption
Responsibility
  • Economic Security Department
  • Management of LSR Group’s entities
«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.



© 2013-2021 LSR Group. All rights reserved.
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