Ferrovial - Annual Report 2010

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Ethical Integrity

Ethical integrity

The business and professional activities of Ferrovial and its employees are based on the value of integrity, and carried out in accordance with the principles of honesty, avoidance of every form of corruption and respect for the individual circumstances and needs of all parties involved.

Ethical integrity 201020092008Var 10-09
Complaints received via whistleblowing channel 112  260 145 -57%
Training given regarding Code of Ethics (hours)  4,250 224 638 1,793%

Ferrovial's Code of Ethics prohibits bribes to public authorities and civil servants and it forbids its employees from giving or receiving undue payments of any type as well as presents, gifts or favors from third parties outside the scope of regular market practices or which, by reason of their value, characteristics or circumstances, may reasonably alter the commercial, administrative or professional relations of its companies.

It also prohibits any action that may involve unfair competition practices and undertakes to ensure compliance with the competition laws applicable in the countries where it operates.

Fraud control is a duty assigned to the Internal Audit Department. In 2009 a new channel was created for accusations related to the Code of Ethics (whistleblowing). In 2010, 2% of accusations received in the intranet mailbox were related to alleged fraud.

Based on the information available for 2010, there have been no significant final penalties, monetary or otherwise, arising from violations of laws, regulations or standards governing the exercise of the Company’s activities.

A training course was launched in 2010 through Universidad Summa to give all Ferrovial employees the chance to get to know the Code of Business Ethics, which establishes the basic principles on which their behavior should be based.

This Code, as well as the corporate procedures for “Protection of the Ferrovial Assets Through Prevention of Internal Fraud" and the "Corporate Procedure for the Whistleblowing Channel" must be complied with by all the staff and companies that make up the company in Spain and abroad.

Commitment

  • Ethics and professionalism in every action.

Lines of action

  • Fight corruption in all its forms, including extortion and bribery (Global Compact).
  • Promote knowledge of the Code of Ethics among all employees.

2010 Milestones

  • Launch of an online training course on business ethics.
  • Launch of the “Security starts with you" campaign.
  • Extend the use of the ethical channel: international Intranet and website.

2011 Goals

  • Extend the operation of FRM Ferrovial Risk Management.
  • Make all stakeholders familiar with the ethical channel.

© Copyright 2010. Ferrovial

In agreement with:
  • Dow Jones Sustainabiliy Indexes
  • LBG Spain
  • Ethibel
  • FTSE4Good
  • The Global Compact
  • Distinction of Equality
  • Triodos Bank
  • Carbon disclosure project

This is an electronic version of the 2010 Annual Report prepared by Ferrovial S.A. for its stakeholders, which aims to be complete and accurate. The contents of this version can be checked by referring to the print version. A copy of the print version in PDF format is available to download on this web page