Statement of Business Principles
Notwithstanding the range of UBM’s operations, certain core values are common to all our businesses in parts of the world. These values inform the various codes throughout the group, and are expressed in the following principles:
Responsibility to customers Responsibility to shareholders Responsibility to employees Business conduct Social policy Environmental issues Monitoring and compliance
UBM aims to win and retain customers by developing and providing products and services of high quality. To enable us to do this we aim to:
To enable UBM to achieve its objective of maximising shareholder value, we must ensure the highest possible standards of financial management and assessment of risk and control. We do this at both head office and divisional level by:
UBM seeks to create an environment which attracts and retains employees of high calibre and in which employees will feel valued for their contribution to the group’s performance. Each division must:
UBM aims to conduct its business in honest and good faith; free from fraud and deception. In order to achieve this, all UBM’s businesses and employees must:
UBM believes that involvement in social issues should aim to achieve partnerships which will benefit the community as well as enhancing UBM’s own activities. UBM attempts to do this by:
UBM also seeks to be a “good neighbour” in relation to environmental issues, by means of:
UBM requires its businesses to comply with the foregoing principles and will monitor performance against appropriate standards in each sector. UBM expects all its employees to act in accordance with these principles, and requires its divisions to put in place procedures that will assist and enable them to do so.
Responsibility to customers Responsibility to shareholders Responsibility to employees Business conduct Social policy Environmental issues Monitoring and compliance
Responsibility to customers
UBM aims to win and retain customers by developing and providing products and services of high quality. To enable us to do this we aim to:
- make certain that all products and services associated with our businesses are of a strict quality that accords with and aims to enhance their market positions;
- develop and maximise our use of and accessibility to technology for the benefit of our customers;
- ensure that the quality of our products and services meets the requirements stipulated by the appropriate regulatory bodies as well as all legal requirements;
- compete fairly and ethically and within the framework of applicable competition laws.
Responsibility to shareholders
To enable UBM to achieve its objective of maximising shareholder value, we must ensure the highest possible standards of financial management and assessment of risk and control. We do this at both head office and divisional level by:
- preparing detailed financial plans and setting clear performance targets;
- challenging plans and targets, and monitoring progress against them;
- establishing detailed financial procedures, including the authorisation of revenue and capital expenditure;
- maintaining a comprehensive system of internal audit with efficient control processes;
- producing financial reports that adequately reflect and record all transactions that have been undertaken;
- ensuring that all proposed investments are fully evaluated and approved at the appropriate level and monitoring ongoing performance;
- taking decisions on tax, finance and accounting issues to optimise the group position.
Responsibility to employees
UBM seeks to create an environment which attracts and retains employees of high calibre and in which employees will feel valued for their contribution to the group’s performance. Each division must:
- implement and observe codes of conduct which are designed to protect employees from harassment or discrimination in any form, and to provide equality of opportunity;
- ensure that their employees are fully aware of such codes and that they comply with them;
- operate a remuneration policy that is competitive and that rewards good performance;
- ensure that all employees know what is expected of them in their job, and are able to measure their performance;
- provide a framework which will assist employees to develop their capabilities;
- provide a safe work environment for its employees and ensure that employees fully understand their own responsibilities as regards health and safety matters;
- aim to develop policies that will support employees in balancing their work and domestic responsibilities.
Business conduct
UBM aims to conduct its business in honest and good faith; free from fraud and deception. In order to achieve this, all UBM’s businesses and employees must:
- comply with all applicable laws and regulations of those countries in which they operate, including in particular any regulations, codes, guidelines or the like which apply to their specific business;
- implement and observe codes of conduct which are designed to protect employees from harassment or discrimination in any form, and to provide equality of opportunity;
- not give or receive bribes or other inducements to obtain or retain business, nor conduct themselves in such a way as to give rise to any conflict of interest;
- seek mutually beneficial commercial relationships with third parties with whom they do business;
- ensure that they do not enter into contractual arrangements that they are unable to fulfil;
- use company assets only for the purpose of UBM’s business and not abuse their position in the company for personal gain;
- ensure that adequate systems are in place to protect the group’s assets.
Social policy
UBM believes that involvement in social issues should aim to achieve partnerships which will benefit the community as well as enhancing UBM’s own activities. UBM attempts to do this by:
- forging relationships with charitable organisations whose objectives accord with the general nature of the group’s activities;
- enabling its employees substantially to determine its charitable donations policy and incentivising them to raise funds for charity by providing a matched giving scheme;
- providing its employees, where appropriate, with the opportunity to engage in activities that will benefit the community.
Environmental issues
UBM also seeks to be a “good neighbour” in relation to environmental issues, by means of:
- pursuing initiatives for the reduction and recycling of waste, as well as the efficient use of energy;
- implementing remuneration practices which are designed to encourage employees to use public, rather than private transport;
- where appropriate, promoting “environmentally-friendly” policies in the workplace.
Monitoring and compliance
UBM requires its businesses to comply with the foregoing principles and will monitor performance against appropriate standards in each sector. UBM expects all its employees to act in accordance with these principles, and requires its divisions to put in place procedures that will assist and enable them to do so.
