ST manages sustainability in line with the following international guidelines and standards:
|International Labor Organizations Conventions, United Nations Global Compact Principles, United Nations Guiding Principles on Business and Human Rights, OECD Guidelines for Multinational Enterprises, Electronic Industry Citizenship Coalition Code of Conduct, ISO 26000, and|
|OHSAS 18001, ISO 14001, EMAS, ISO 50001, ISO 14064, QC 080000.|
Our commitment to align with these guidelines and standards is outlined in our company’s Code of Conduct, Principles for Sustainable Excellence, our company-level guidelines for informing our behavior and decision-making. Policies and procedures are then defined at corporate level, and endorsed by our CEO, Carlo Bozotti, to ensure effective deployment throughout the company. The most important internal standards in terms of sustainability are our Business Conduct and Ethics, Human Resources, Health and Safety, and Environmental Policies.
Sustainability is one of ST’s six corporate annual priorities. Executive Vice President, Chief Administrative Officer, Tjerk Hooghiemstra, has overall responsibility for sustainability. Part of his remit is to provide sustainability updates to the CEO and Executives Officers at quarterly Corporate Staff Meetings.
Activities related to Business Ethics Oversight and Enterprise Risk Management (ERM are managed by the Chief Audit and Risk Executive, Franck Freymond).
His responsibilities in terms of Business Ethics Oversight include:
|Managing the ethics reporting hotlines,|
|Managing investigations and reporting on findings,|
|Chairing the Corporate Ethics Committee. This Committee was established by ST’s CEO to provide guidance and recommendations to executives and employees of ST to help them comply with ethics-related policies, procedures and principles applicable throughout the Company. Its scope covers the following roles and responsibilities:|
The responsibilities of the Chief Audit and Risk Executive in relation to ERM include:
|Leading the development and maintenance of the ERM framework,|
|Overseeing the execution of ERM processes, procedures and infrastructure to ensure that the ERM activity serves as a key enabler to achieving the business objectives of the organization.|
In addition, the Strategic Committee reviews and validates the annual top-down corporate level risk map and performs periodic follow-up on risk mitigation action plans.
Every three to five years, a group of ST’s Vice Presidents conducts a materiality exercise, taking into account both ST's business priorities and our main stakeholders’ expectations, in order to review and update the Sustainability Strategy.
Click here to see ST Sustainability governance framework.