Supplier Audit and Corrective Action
Critical/ Significant suppliers are audited annually. They are subject to an in-depth risk assessment of their operations to evaluate and ensure compliance with the Supplier Code of Conduct, laws and regulations, and various other measures. This includes relevant sustainability requirements in such areas as business ethics, human rights, labor practices, occupational health and safety, social responsibility, environmental management, climate change, biodiversity and sustainable procurement. Keeping sustainability in mind, suppliers are required to prepare a risk management plan that details ways to further improve and develop existing systems, processes, and operational guidelines. EGCO Group will monitor and assess performance based on the plan through its completion.