1. Integrity and ethics:
We at PENPET Petrochemical Trading GmbH (PENPET) are committed to upholding the highest ethical standards and promoting integrity in all our business activities. The 10 principles of the UN Global Compact are the binding guideline for our actions.
2.Compliance with laws:
We comply with all applicable laws, regulations and standards in the countries in which we operate. We do not engage in unethical behavior, even if it is covered by local laws.
3.Responsible handling of information:
Confidential information of customers, business partners and the company must be protected and treated confidentially. The provisions of the European General Data Protection Regulation apply to us.
Generally, PENPET employees may not disclose confidential information without authorization or use it for personal purposes.
4. Fair competition:
We participate in fair and ethical competition and adhere to the principles of fair competition.
Unfair business practices such as bribery, unfair advantages or price fixing are strictly prohibited.
5.Avoidance of conflicts of interest:
PENPET employees avoid any actions or situations that could lead to a conflict of interest with the company.
PENPET employees shall immediately report potential conflicts of interest to their supervisor.
6.Respect and diversity:
We promote a culture of respect, diversity, and inclusion in the workplace.
Discrimination of any kind, whether based on race, gender, religion, sexual orientation, or other characteristics, is not tolerated.
7.Responsibility for the environment:
PENPET recognizes the threat posed to our natural resources by human-induced climate change and pollution. We are committed to environmentally friendly business practices and strive for the sustainable use of resources. We try to achieve this through our own actions at our sites, through the selection of our business partners in logistics and through the selection of suppliers of the petrochemical products we sell.
The company supports initiatives to preserve the environment and encourages its employees to take environmental concerns into account when making decisions.
8.Reporting violations and complaints:
PENPET employees are encouraged to report violations of this Code of Conduct or applicable laws without fear of retaliation.
The company ensures fair and confidential treatment of complaints and reports.
9.Compliance with the Code of Conduct:
We require every PENPET employee and company representative to adhere to this Code of Conduct and to act honestly, fairly and transparently towards customers, partners and colleagues. All PENPET employees are required to understand and respect this Code and to implement it in their daily actions. This is trained annually with all PENPET employees.
Hamburg, 22 April 2024
Christoph Meister Tim Meister
Managing Director Managing Director
1. Integrity and ethics:
SUPPLIERS and SERVICE PROVIDERS (hereinafter referred to as SUPPLIERS) of PENPET Petrochemical Trading GmbH (hereinafter referred to as PENPET) should be committed to upholding ethical standards and promoting integrity in their business activities in line with the 10 principles of the UN Global Compact.
2. Compliance with laws:
SUPPLIERS shall comply with all applicable laws, regulations, and standards in the countries in which they operate.
3. Responsible handling of information:
SUPPLIERS shall maintain accurate business and financial records of all transactions related to their dealings with Company and be prepared to provide such records upon request.
SUPPLIERS must protect Company's confidential information.
4. Fair competition:
SUPPLIERS shall engage in fair and ethical competition and adhere to the principles of fair competition. SUPPLIERS shall not engage in any form of bribery or any other form of corruption.
5. Avoidance of conflicts of interest:
SUPPLIERS must disclose to PENPET any suspected or actual conflicts of interest with appropriate evidence.
6. Respect and diversity:
SUPPLIERS should respect the human rights of their employees and treat them fairly and comply with international principles and all applicable laws.
SUPPLIERS shall not use forced or involuntary labor.
SUPPLIERS shall not use child labor and shall act in accordance with applicable child labor laws.
SUPPLIERS shall not discriminate in employment based on race, color, sex, religion, age, disability, etc.
SUPPLIERS should recognize the rights of their employees to freedom of association and collective bargaining.
7. Responsibility for the environment:
SUPPLIERS should commit to sustainability through efficient use of resources, including reducing energy consumption, supporting alternative energy or an effective resource management plan.
SUPPLIERS must strictly comply with all applicable environmental laws, including health, safety, and labor laws.
SUPPLIERS must ensure that they have a safe and proper management of waste, air emissions and wastewater discharges in their production process to reduce greenhouse gas emissions from their own operations, supply sources and supply chain. In addition, the systems must be subject to regular assessment.
SUPPLIERS shall provide a healthy and safe workplace, including the provision of adequate personal protective equipment for their employees.
8. violations and complaints:
If a SUPPLIER violates any provision of the Supplier Code of Conduct, PENPET may issue a warning and suspend or cancel further business with the supplier concerned. In this case, the Supplier shall not be entitled to any compensation from the Company.
9. Compliance with the Code of Conduct:
We expect our SUPPLIERS to adhere to this Code of Conduct and to act honestly, fairly and transparently towards customers, partners and colleagues.
Hamburg, 22 April 2024
Christoph Meister Tim Meister
Managing Director Managing Director