Sustainability and Responsibility

Financial Responsibility

Senop nurtures and develops its business in a sustainable and responsible manner.

Responsibility Regarding Gifts and Hospitality

Under no conditions does Senop grant payments, favors, benefits, hospitality or monetary contributions to customers, civil servants, public employees, or employees of governmental organizations in order to win contracts or gain advantages. In its business dealings, Senop always pays special attention to avoiding even the mere appearance of impropriety, such as an attempt to influence our business partners or customers.

Senop encourages its Personnel to build their networks on behalf of the company in a responsible manner. Participation in events shall always be discussed with the immediate superior and the professional relevance and content of the event addressed. Whereas hospitality may include benefits such as entertainment, meals, receptions, tickets and participation in entertainment and sports events, if these are offered or accepted as part of a business relationship, personnel may not accept hospitality, gifts or other favor of any value if doing so might compromise, or appear to compromise, our ability to make objective business decisions in the best interests of Senop.

Acting Against Corruption, Illegal Payments, and Facilitation Payments

Senop maintains zero tolerance towards corruption and bribery. Senop does not tolerate unethical or corrupt behavior by its Personnel or business partners and acts actively against it. Decisions based on corruption are immoral, distort competition, harm the company’s assets and reputation and go against the common interest. Senop pays special attention to ethical behavior in contact with political parties, public authorities, and their officials in all countries where we conduct business.

Senop Personnel, Senop’s representatives and business partners may not, directly, or indirectly, offer, promise, or give bribes to agents, customers, suppliers or other business partners or public officials, or request or accept bribes anywhere in the world.

It is prohibited to make or allow payment of any illegal payments or facilitation payments. Such payments may include, but are not restricted to, small sums of money intended to facilitate or expedite the performance of routine functions, such as issuing permits or licenses or processing government documents. In any unclear situation, the respective manager or the Patria Group Legal Department must be consulted.

Compliance with Accurate Financial Reporting and a Transparent Tax Strategy

Senop complies with all applicable accounting and financial reporting rules. Senop’s financial reporting is based on the International Financial Reporting Standards.

All financial transactions shall be properly authorized in accordance with Senop’s decision-making policies and duly recorded in its books. Recording and reporting obligations are mandatory and subject to annual auditing as well as internal controls. Senop will under no circumstances falsify or counterfeit financial or other documents or create misleading information.

Senop Group shall comply with the tax laws and regulations of each country in which it operates. Where tax laws do not give clear guidance, prudence, a conservative approach, and transparency shall be the guiding principles.

Prevention of Money Laundering

Senop does not allow money laundering in its operations and commits its best efforts to prevent it. Money laundering is the practice of engaging in financial transactions to conceal the identity, source or destination of money connected with criminal activity, such as bribery, terrorism, and drug trafficking.

Avoiding Conflicts of Interest / Related Party Transactions

Senop employees, managers and directors are expected to promote the interest of Senop and, while doing so, to act responsibly and avoid any activity which may lead to a conflict of interest. Personal and private financial, political, or other personal interests are not allowed to influence business decisions, since they may conflict with the interests of Senop or our business partners. Decisions by or for Senop shall never be influenced by personal preferences or relationships.

In the event that a conflict of interest arises or is likely to arise, it is to be disclosed and a solution is to be sought with the respective manager in order to avoid any negative impact on the interests of Senop.

Decision-Makers and Personnel participating in the preparation of business transactions must personally and actively evaluate whether a business transaction conducted or to be concluded by Senop may put Senop’s interests at risk due to a potential or actual conflict of interest. When a Decision-Maker becomes aware of a business transaction planned by Senop that is connected to a party related to the Decision-Maker, they must immediately report the matter in writing (e-mail) to their superior and the party responsible for preparation of the transaction. Decision-Makers are also obligated to assess the situation regarding business transactions in which they participate on behalf of related parties. If such business transactions have a connection to Senop, or the related person has a different connection to Senop, such as through a valid or potential contractual relationship, the Decision-Maker must actively raise the issue within the related corporation. In case it is discovered that a person does not recuse himself, appropriate disciplinary actions will be taken. In addition, a person may even be held personally and financially liable for non-recusal under applicable legislation.

Sustainability and Responsibility at Senop

Corporate Responsibility and Responsible Business

Our unwavering commitment to fair and ethical business practices and a culture of transparency guides everything we do as a company.

Environmental Policy

Senop is committed to operating according to the principles of sustainable development by responsibly utilizing natural resources, continuously improving its level of environmental protection, and preventing pollution.

Social Responsibility

Senop respects and promotes universal human rights as defined in the Universal Declaration of Human Rights by the United Nations in its operations.

Code of Conduct for Suppliers

Senop conducts business only with reliable suppliers and subcontractors whose operations adhere to Senop’s ethical guidelines.

Reporting Suspected Misconduct

All personnel are obligated to report to their immediate supervisor or legal counsel any concerns about compliance with the guidelines and suspected breaches of the guidelines.