UK Bribery Act

Equatorial Palm Oil (EPO) has published this statement in line with the suggestions made within the Guidance to the UK Bribery Act that was published by the UK Ministry of Justice at the end of March 2011. The UK Bribery Act became law at the beginning of July 2011.

EPO and its subsidiaries (the Company) recognise that its activities fall under the scope of the UK Bribery Act. This piece of legislation was put in place to encourage companies and other organisations to ensure that they have comprehensive systems and procedures in place to address the risks associated with bribery and corruption. One notable element of the new law was the specific prohibition of facilitation payments. More information about the UK Bribery Act can be found at the Ministry of Justice website.

The Company believes that its long term success, its reputation and its licence to operate are directly related to its approach to these issues. This is because it believes that it is important that its stakeholders have the required level of confidence in their dealings with it. The Company prohibits bribery and corruption of any kind and this policy includes facilitation payments. The scope of this policy extends to its agents, employees and contractors.

The Company’s bribery and corruption prevention procedures include:

  • Comprehensive financial management systems which are regularly inspected and reviewed by its auditors
  • Strong internal communications mechanisms enabling employees, contractors and agents to report any concerns they may have confidentially
  • Human resource systems to ensure that employees are aware of the Company’s Code of Conduct and their obligations under the UK Bribery Act
  • Regular consultation, dialogue and communications with the Company’s local and national stakeholders in Liberia
  • Regular review of the Company’s policies, management systems and related performance by the Board of Directors

The Company welcomes feedback on this information and its overall approach to this issue.

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