“88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society.”
Better Business Journey
Corporate Responsibility
Introduction
LOMGroup is committed to achieving its investment objectives while behaving responsibly as an employer, as an investor and as an international corporate citizen. We take responsibility for our actions, carefully consider how others will be affected by our choices and ensure that our values and ethics are integrated into our formal business policies, practices and plans.
Read more below the highlights about our CR Policy frame, especially about our CSR Policy, Investment Policy, our understanding of Employer's Responsibility, Environmental Policies as well as our Human Rights Policy and much more. In-depth informations you will find in the portals marked below.
Corporate Social Responsibility (CSR) Management systems comprise a significant part of the economic, environmental and social responsibility policies of LOMGroup. We, LOMGroup companies, take initiative to contribute to harmonious and sustainable development of society and the earth through all business activities that we carry out in each country and region, based on our Guiding Principles. We comply with local, national and international laws and regulations as well as the spirit thereof and we conduct our business operations with honesty and integrity. In order to contribute to sustainable development, we believe that management interacting with its stakeholders as described below is of considerable importance, and we will endeavor to build and maintain sound relationships with our stakeholders through open and fair communication. We expect our business partners to support this initiative and act in accordance with it. For more please see our CSR Portal.
We have a clear and comprehensive Responsible Investment (‘RI’) policy which is embedded into our investment and portfolio monitoring processes. In our experience, companies with high ESG standards are typically better run, better at identifying and managing their business risks and generate better earnings growth.
Since 2011 we have been signatories to the UN Principles for Responsible Investment.
A responsible employer
We believe that the skills, capabilities and talents of our employees are vital to our success. Recruiting, retaining and developing our talent is one of our most important priorities. We work towards that objective by providing training and opportunities for career advancement, rewarding our employees fairly and by encouraging employees to give direct feedback to senior management.
LOMGroup, via its employees building an international family, benefits from an open culture of communication and a flat organisational structure. We are a meritocracy and our employees are recruited, promoted and rewarded on the basis of merit, ability and performance.
We recognise the importance of nurturing the wellbeing and satisfaction of our employees by providing a supportive working environment and a healthy work/life balance. Accordingly, we offer a variety of formal and informal benefits.
Whilst LOGroup does have, even it does not need, a formal human rights policy, our policies are strictly consistent with internationally-proclaimed human rights principles.
In particular, LOGroup is an equal opportunities employer and opposes all forms of unlawful and unfair discrimination. We have clear grievance and disciplinary procedures, an employee assistance programme and an independent, external "whistle blowing" hotline service. Read more here.
LOMGroup shows zero tolerance toward corruption, violations of the principles of fair competition and other breaches of the law – and where these do occur, we take swift action. But compliance means much more than just adhering to laws and to the regulations described in the LOMGroup Business Conduct Guidelines. Compliance forms the basis for all our decisions and activities, and it is the key to integrity in conducting business. Our premise is this: Only clean business is LOMGroup business. This applies worldwide and at all levels of the organization.
In addition to combating corruption and competition violations, the Compliance Department also protects our company against fraud and money laundering as well as safeguards personal data. Read more here.
Our sustainability initiatives are an essential aspect of successfully implementing the LOMGroup's Strategy Program Vision 2023. Our understanding of sustainability is fully based on our company values – responsible, excellent, innovative. At Companies of LOMGroup, we define sustainable development as the means to achieve profitable and long-term growth. In doing so, we, externally, align ourselves with the goals of the UN’s 2030 Agenda for Sustainable Development while, internally, striving to balance people, environment and growth. Read more here.
Environmental Management System (EMS)
Environmental Protection as well as Occupational Health and Safety are integral components of our corporate culture. As such, we expect our suppliers to make every effort to protect the environment as well as taking responsibility for the health and wellbeing of their employees. Read about our EMS more here.