Ethics, integrity and values

The system to protect the integrity of the Carraro Group comprises the set of codes, policies and values adopted by Group companies:

• Carraro Values;
• Group Code of Ethics;
• Sustainability Policies;
• Procedure for Related-Party Transactions;
• Organisational Models pursuant to Italian Legislative Decree 231/2001.

In addition to the ethical principles, since 2011 the Group has implemented a project to identify, promote and disseminate the “Carraro Values”, specifically the principles of conduct incorporated over time into the company culture, serving to support the Group's entrepreneurial mission.

The Carraro Values expressed in the Code of Ethics are constantly shared with all employees in recognition of the fact that these elements constitute a significant part of the Group’s intangible heritage. These values are classified under five categories:

1. Being responsible
2. Creating value
3. Developing talent
4. Stimulating innovation
5. Working together

Our Group values have always been inspired by a vision of sustainability. The upgrading of these values to encompass corporate social responsibility confirms that the group is on a path of common benefit, as Carraro values are strictly aligned with the goals of the 2030 Agenda for Sustainable Development:

• We are socially responsible
• We create value in a sustainable way
• We develop talent to make the most of our human resources
• We stimulate innovation for the benefit of all
• We work together to achieve common goals

The Code of Ethics expresses the commitments and ethical responsibilities of the Group in the performance of its business and activities, promoting behavioural standards among Group employees across all levels in relation to the principles of legality, loyalty, correctness and professional integrity, aimed at preserving the integrity of the heritage of the Carraro Group and protecting its image and respectability.

In 2019, Carraro set up channels for reporting conduct contrary to the Group's ethical principles, thereby guaranteeing protection to the whistleblower. The digital whistleblowing channel (“CarraroWB” web portal) can be accessed via the website:

Integrity and transparency are considered essential principles of conduct by the Carraro Group in the performance of its business affairs: according to its principles of conduct, the Group rejects any form of corruption in relations with its counterparts. The fundamentals of these rules of conduct are formalised in some of the documents of the integrity protection system of the Carraro Group:

• the Group Code of Ethics,
• the Anti-Corruption Policy;
• the Organisational, Management and Control Model pursuant to Italian Legislative Decree 231/2001 adopted by Italian companies.

See our CSR report for more information.