Ferrovial - Annual Report 2008

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Ethical Integrity

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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 2008 2007 2006 Var 08-07
Ethical conduct (perceived)* 65 64 56 2%
Responsible use of power in the market (perceived)* 66 65 58 1%
Investigations opened based on whistleblower reports 145 110 80 32%
Training about the Code of Ethics (hours) 638 400 NA 60%
Executives given Code of Ethics training (%) 331 232 NA 43%
Employees given Code of Ethics training (%) 960 529 NA 81%
Suppliers that have ratified the Code of Ethics (%) 92 100 NA -8%

Ferrovial prohibits bribes to public authorities and civil servants and it forbids its employees to give or receive 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. One notable development is the creation of a new Whistleblowing Channel for anonymous reports regarding Code of Ethics violations. In 2008, there were no corruption investigations opened as a result of any reports made through this channel.

In January 2009, the FTSE4Good again ratified Ferrovial’s inclusion on its indices after completing an evaluation of its anti-corruption policies and procedures.

Commitment

  • Ethics and professionalism in every action.

Lines of action

  • Fight corruption in all its forms, including extortion and bribery (Global Compact).

Milestones in 2008

  • Whistleblowing Channel.
  • Buyer's Code.
  • New procedure for the prevention of internal fraud.

2009-2010 Objectives

  • Ensure that the principles of the Code of Ethics are spread throughout the organization.
  • Extend the use of the ethic reporting channel to other stakeholders.
© Copyright 2009. Grupo Ferrovial In agreement with:

This is an electronic version of the 2008 Annual Report prepared by Grupo 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