PALFINGER stands for "Good Governance" - for responsible corporate management and control - and is for many years now an active member of the Austrian Working Group for Corporate Gonvernance.
Financial Security of Staff The success of a company is dependent on its staff - thus employees should participate in successful times in the companie's results. Of course PALFINGER also had to take numerous measures in the past in order to adjust the PALFINGER Group as well as its structures to the changed market environment. Even if the adjustments were not made primarily through staff lay-offs or plant closures, social measures to mitigate the effects of job cutbacks as well as the consideration of different wage levels in various countries is of utmost importance for PALFINGER. Basically all our staff should be paid a guaranteed minimum income. In regions which are officially exempt from national minimum wages/salaries we still follow the collective wage agreements that are customary in that country.
Purchasing Ecological and social responsibility along all stages of the value-creation chain is also of great importance to PALFINGER. Not only are production processes optimised and the safety and environmental impact of our products improved, but also suppliers are gained as long-term partners for sustainable development. The Code of Conduct should support here preventatively. To guarantee that these measures are actually taken audits at internal purchasing departments as well as at the 120 top suppliers take place. PALFINGER represents a local sourcing strategy with the goal of using available resources in the country where they occur and to avoid expenses for logistics, packaging, transports, etc. as far as possible.
Prevention of Corruption & Integrity Line As the first company in Austria PALFINGER has established an Integrity Line with prior approval of the Austrian Data Protection Commission in order to offer all stakeholders the possibility of anonymous contact to inform of potential violations of laws or guidelines. Any corruption or bribery is not accepted. Preventive measures such as the policies on the acceptance of gifts are defined and included in the Group-wide procurement guideline as well as in the Code of Conduct.
Fair Taxation As an international Group there is a strong commitment to Austria as the Group's headquarters, with all tax-based consequences. PALFINGER is not afraid of disclosing tax payments in individual countries. Internal transfer prices provide transparency and maintain internal competition and are not for obtaining tax relief.
Donations & Sponsorships PALFINGER confirms its commitment to long-term initiatives in the field of donations and sponsorships also in difficult economic times. Measured by our revenue, the amount spent on donations and sponsorships in 2008 and 2009 corresponded to the average amount donated for many years. The new policy on donations focuses on health promotion. For instance the organisation and the Palfinger family have supported AMREF and the Flying Doctors Service for almost ten years. AMREF is the largest politically independent organisation for health provision in Africa.
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