COMMITMENTS
The Compliance Program
Vivendi
works to ensure adherence to the values and rules
of conduct defined in its Compliance Program. Adopted on January 24, 2002
and revised in 2005, this program is aimed at raising the awareness of
all employees of the need to compty with rules of conduct and at establishing
monitoring structures and procedures to ensure that those rules are
applied in all the group’s companies. This monitoring is coordinated by
specially authorized Compliance Program officers.
These rules apply to:
- •
employees’ rights,
- •
fairness and protection of information,
- •
prevention of conflicts of
interest,
- •
commercial ethics,
- •
protection of goods and resources belonging
to the group,
- •
financial ethics, and
- •
respect for the environment
Respect for the rules of conduct is a
condition for belonging to the Vivendi group.
An evaluation
report on their implementation within the group’s entities is prepared each year
by the General Counsel and submitted to the Audit Committee. The fourth
edition of this evaluation report was presented to the Audit Committee in
February, 2007.
 The charters
Vivendi’s values and commitments regarding its
partners are defined in six charters (download the pdf).
 The program of conformity with environmental, health,
and workplace safety standards
Sustainable development is a fundamental
goal of the European Union, stated in the Treaty on European Union, and
concerns all actions and policies of the Union (see
statement by Margot Wallström – Vice President of the European
Commission ).
The European Council, in June 2006,
specified the contours of the objective of sustainable development
included in the Treaty on European Union: “It is about safeguarding the
Earth’s capacity to support life in all its diversity and is based on the
principles of democracy, gender equality, solidarity, the rule of law and
respect for fundamental rights, including freedom and equal opportunities
for all. It aims at the continuous improvement of the quality of life and
well-being on Earth for present and future generations. To that end it
promotes a dynamic economy with full employment and a high level of
education, health protection, social and territorial cohesion and
environmental protection in a peaceful and secure world, respecting
cultural diversity.”
Several European programs have been
adopted to cover these different areas of action, leading to the
formalization, in 2001, of an initial European Union strategy for
sustainable development. Given the deterioration of the environmental
situation and increasing economic and social challenges, the European
Union defined, in 2006, a new sustainable development strategy, enacted by
each of the Member States in their national strategy.
These
European objectives are relayed by the private players who, in their
respective areas, contribute to the implementation of that commitment.
Vivendi includes this vision in its approach to sustainable development
and in the definition of its specific issues, which echo this constant
concern for responsibility regarding future generations: protection of
minors, promotion of cultural diversity, sharing of knowledge, and the
impact of the digital revolution on new uses affecting consumption of
services and content.
GOVERNANCE
STRUCTURES
 Corporate governance
Vivendi's governance is based on a dual
structure, comprising a Supervisory
Board and a Management
Board,assisted by four specialized committees.
Internal
control
Internal control is composed of a set of procedures defined by the Management
Board and implemented by Vivendi’s employees, whose aim is to achieve the
following objectives:
• application of the instructions and objectives
set by the Management Board;
• compliance with laws and regulations and
with the Group’s values;
• prevention and control of operational risks,
financial risks, and risks relating to error and fraud;
• quality and
fairness of accounting, financial and management information;
•
optimization of internal processes by ensuring the effectiveness of
operations and the efficient use of resources
The general internal
control principles rely to a large extent on the definitions of the COSO
(Committee of Sponsoring Organizations of the Treadway Commission)
Report.
To strengthen procedures for management and prevention of
major risks for the Group, a Risks
Committee chaired by the Chairman of the Management Board was created
in 2006.
Attentiveness
to shareholders
Vivendi’s financial communications policy
aims at providing all shareholders with accurate, precise, and sincere
information on the Group’s strategy, situation, results, and financial
development in compliance with the procedures implemented in application
of the standards in force.
This attentiveness to shareholders is built
around relays of information with shareholders and communication with
investors.
- Website : www.vivendi.com/ir/en/home/
|
