Comprehensive ESG Oversight, Ethics & Compliance Program at Wesco
The Board is dedicated to ensuring the company operates with integrity, transparency, and accountability. It recognizes that effective oversight of Environmental, Social, and Governance (ESG) issues is a crucial aspect of managing risk. The Nominating and Governance Committee oversees significant ESG matters, while the Audit and Compensation Committees focus on specific ESG-related topics.
- Audit Committee: Oversees business ethics, cybersecurity, regulatory compliance, legal compliance, and the impact of ESG issues on financial reporting and disclosures.
- Compensation Committee: Focuses on human capital management, talent, human rights, labor standards, health and safety, and diversity & inclusion, including related programs and policies.
- Nominating and Governance Committee: Oversees shareholder rights, board structure, climate change impact, waste, water and energy management, supply chain transparency, and product lifecycle management. It also manages ESG issues not covered by other committees.
Management teams collaborate with senior leadership to set strategies and goals, embedding sustainability and ESG objectives throughout the organization.
Board of Directors Demographic Highlights:
Board of Directors Demographic Highlights:
- 60% of directors are diverse in gender, race, or ethnicity
- 30% female directors
- 40% of directors represent racial diversity
- 100% independence across Audit, Compensation, and Nominating & Governance Committees
- 70% of directors have expertise in environmental, climate, and sustainability matters
- 70% have experience in human capital, talent, inclusion, and diversity
Ethics and Compliance
Wesco is committed to the highest standards of ethics and integrity, reflected in its global ethics and compliance program. This program is structured around four pillars: continuous risk assessments, clear standards for expected behavior, training and communication, and monitoring via internal reporting channels, investigations, and audits.
The Chief Ethics and Compliance Officer (CCO) leads the program, supported by Regional Compliance Officers globally. The Executive Compliance Committee, which includes Wesco's top executives, oversees the program, with regular updates provided to the Audit Committee.
The Wesco Code of Business Conduct sets the standard for ethical behavior, covering issues such as anti-corruption, conflicts of interest, non-harassment, and data protection. It applies to all Wesco employees, directors, and subsidiaries, often holding higher ethical standards than required by law.
Annual training on the Code is mandatory for all employees, with additional training based on role-specific risks, such as anti-bribery, anti-corruption, and human rights protection. Employees are expected to act on these principles and report violations. Wesco provides various reporting channels, including anonymous options, to ensure concerns are addressed without fear of retaliation.
Wesco continuously evaluates and updates its ethics and compliance program, including reviewing policies and implementing changes based on emerging risks and regulatory changes.
Key Ethics and Compliance Elements:
Wesco is committed to the highest standards of ethics and integrity, reflected in its global ethics and compliance program. This program is structured around four pillars: continuous risk assessments, clear standards for expected behavior, training and communication, and monitoring via internal reporting channels, investigations, and audits.
The Chief Ethics and Compliance Officer (CCO) leads the program, supported by Regional Compliance Officers globally. The Executive Compliance Committee, which includes Wesco's top executives, oversees the program, with regular updates provided to the Audit Committee.
The Wesco Code of Business Conduct sets the standard for ethical behavior, covering issues such as anti-corruption, conflicts of interest, non-harassment, and data protection. It applies to all Wesco employees, directors, and subsidiaries, often holding higher ethical standards than required by law.
Annual training on the Code is mandatory for all employees, with additional training based on role-specific risks, such as anti-bribery, anti-corruption, and human rights protection. Employees are expected to act on these principles and report violations. Wesco provides various reporting channels, including anonymous options, to ensure concerns are addressed without fear of retaliation.
Wesco continuously evaluates and updates its ethics and compliance program, including reviewing policies and implementing changes based on emerging risks and regulatory changes.
Key Ethics and Compliance Elements:
- Code of Business Conduct: Establishes ethical standards, including anti-corruption, conflict of interest prevention, and data protection.
- Global Anti-Bribery and Corruption Policy: Wesco's zero-tolerance stance on bribery and corruption, promoting integrity and transparency.
- Human Rights Policy: Aligns with international human rights standards and guidelines.
- Internal Audit Program: Regular assessments to ensure compliance with policies, with 84 operational audits conducted in 2023.
- Business Conduct and Duty to Report Policy: Requires employees to disclose violations and misuse of company assets.
- Anti-Retaliation Policy: Protects employees from retaliation when reporting concerns.
- Anti-Fraud Program: A comprehensive approach to preventing and detecting fraud, with internal controls and audits.
- Diverse Business Contracting Compliance: Supports minority, women, and disadvantaged business enterprises (MWDBEs).
- Supplier Code of Conduct: Sets ethical expectations for suppliers, including compliance with laws related to human rights, safety, and anti-corruption.
- Business Partner Anti-Corruption Policy: Extends Wesco’s anti-corruption policies to its supply chain, prohibiting improper payments or corrupt practices.
Wesco remains committed to improving its ethics and compliance practices to ensure accountability and sustainability across its operations.
Click here to know more about the 2024 Wesco Sustainability Report.
Click here to know more about the 2024 Wesco Sustainability Report.
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