What is the Code?
The Code of Conduct establishes 6 key principles
- leading by example (demonstrating exemplary behaviour)
- integrity (acting with honesty, ethics)
- transparency (communicating openly, honestly, clearly)
- accountability (taking personal responsibility for actions/consequences)
- fairness (treating people equitably)
- responsible business (ESG)
Why have we adopted the Code?
The voluntary adoption of the Code underpins our existing approach to ethical governance and responsible business, with the values guiding our Directors’ professional behaviour and decision-making, and it consolidates public trust in GFSL. The principles outlined in the Code complement our GFSL values of Pride in People, One Team and Do the Right Thing.
How will the Code impact on GFSL employees?
Employees can be confident that business decisions will be made with the highest ethical standards at their core, based on the key principles of the Code. In accordance with the way in which we operate, particular emphasis will be placed on delivering honest, open communications about decisions and actions that stem from them.
How will the Code support our Directors?
The Code supports our existing approach to leadership and governance, helping Directors to fulfil their responsibilities by outlining what good practice looks like. It lays out guiding principles for Directors to refer to when asking themselves ‘What would a responsible Director do in this situation?’. Designed as a practical tool, the Code helps Directors think clearly, make good decisions and promote high levels of integrity across GFSL.
How will the Code support GFSL more widely?
The intended outcomes of adopting the Code of Conduct will reinforce our commitments to being a responsible and respected organisation, building increased trust, confidence and respect among stakeholders, thus growing GFSL’s reputation. In turn, this will enhance relationships with stakeholders and help bolster our legitimacy and resilience.
The Institute of Directors’ Code of Conduct can be found on their website.
