MONTREAL, April 20, 2021 /CNW Telbec/ - SNC-Lavalin Group
Inc. (TSX: SNC) announced that the World Bank Group has granted an
early lifting of all sanctions previously imposed in 2013 for a
period of 10 years. This decision, which followed a rigorous
assessment and monitoring process by World Bank authorities and the
independent monitor, confirms that SNC-Lavalin has met all the
settlement agreement's terms and conditions. The Company and its
subsidiaries will now be able to bid, win and carry out work on
projects financed by the World Bank, the African Development Bank,
the European Bank for Reconstruction and Development, the Asian
Development Bank and the Inter-American Development Bank.
"Since 2012, SNC-Lavalin has done its homework. Over nearly 10
years, we evolved through honest reflection, hard work and a
sustained commitment by and toward all our employees, leading to
the integration of integrity best practices," said Ian L. Edwards, President and CEO of
SNC-Lavalin. "Given the scale of the collective challenges we
must all face to revitalize the global economy in a sustainable
way, SNC-Lavalin will continue to put its teams' expertise and
talent at the service of communities, so that they remain at the
forefront of societal change. We will no longer let yesterday's
events define who we are today and what we intend to achieve
tomorrow."
A world-class Integrity Program
SNC-Lavalin's
Integrity Program aims to prevent, detect and respond to
the risk of wrongdoing. It aligns with the principles of
international organizations such as Transparency International, the
Organisation for Economic Co-operation and Development, the United
Nations Global Compact and the World Bank, as well as the U.S.
Department of Justice Resource Guide to the U.S Foreign Corrupt
Practices Act.
Since 2012, SNC-Lavalin has taken significant action and
implemented new processes, including:
- The appointment of a Chief Integrity Officer who reports
directly to the Board of Directors and General Counsel at the
operational level (2013);
- The renewal of the management team and board members (since
2012);
- Mandatory annual Code of Conduct certification for employees,
as well as additional targeted mandatory integrity training to
ensure a good understanding of the program (since 2012);
- A compliance investigation team separate from the internal
audit function, for all alleged violations by employees, former
employees, partners, suppliers and subcontractors (2013);
- Mandatory integrity checks for all third parties (2014);
- A Supplier Code of Conduct (2017);
- The inclusion of integrity in the overall assessment of
employees entitled to the Annual Incentive Plan (2014);
- A reporting line operated by an independent service provider to
report integrity concerns anonymously and confidentially (since
2012);
- The implementation of stringent policies and processes on
topics such as the anti-corruption and bribery, antitrust and
competition, facilitation payments, conflicts of interest, related
compliance training, and integrity risk assessments. (since
2013)
"Since 2012, SNC-Lavalin's management and thousands of employees
worldwide have been at the forefront of the many changes
implemented. A strong culture of integrity has been established
through the commitment of all to common values, implementation of
rigorous internal controls to ensure compliance, as well as the
application of corrective measures," said Dr. Hentie Dirker, Chief
Integrity Officer, SNC-Lavalin. "Thanks to this journey, we now
have a robust integrity program and stay abreast of the latest
trends in the field to continuously improve its content."
An integrity program recognized by independent third
parties
In addition to the early lifting of sanctions
imposed by the World Bank, the Ethisphere Institute, a global
leader in defining and raising the standards of ethical business
practices, also announced in January
2021 that SNC-Lavalin had earned the coveted Compliance
Leader Verification for 2021-2022, extending the earlier 2019-2020
verification.
Additional information
- End of administrative arrangement: The
administrative arrangement signed in December 2015 with Public Services and
Procurement Canada under the new Integrity Regime allowed
SNC-Lavalin to continue contracting with or supplying to the
Government of Canada. An
independent monitor was appointed to ensure that the company
complied with the agreement's terms and conditions, which it did.
As of December 2020, SNC-Lavalin
was no longer subject to this administrative agreement.
- Continued collaboration with the independent
monitor: Pursuant to the 2019 settlement of charges
related to activities that occurred 10 to 20 years ago, SNC-Lavalin
continues to work with an independent monitor responsible for
reporting on the company's Integrity Program until December 2022. A summary of each report is
published on SNC-Lavalin's website and each recommendation is given
special attention to optimize the current Integrity
Program.
Useful links
- Integrity Program website
- SNC-Lavalin's Integrity Journey
- 2020 Integrity Highlights
- Press release from Ethisphere Institute on obtaining the
Compliance Leader Verification
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated
professional services and project management company with offices
around the world. SNC-Lavalin connects people, technology and data
to help shape and deliver world-leading concepts and projects,
while offering comprehensive innovative solutions across the asset
lifecycle. Our expertise is wide-ranging—consulting & advisory,
intelligent networks & cybersecurity, design & engineering,
procurement, project & construction management, operations
& maintenance, decommissioning and sustaining capital—and
delivered to clients in four strategic sectors: EDPM (engineering,
design and project management), Infrastructure, Nuclear and
Resources, supported by Capital. People Drive.
Results. You can find relevant news and information at
www.snclavalin.com. Follow us on Twitter @SNCLavalin.
SOURCE SNC-Lavalin