Why is this important to us?

Compliance with ethics regulations and upholding good governance is fundamental to being a responsible business. It is also critical to the successful fulfillment of our 10 sustainable development outcomes. Without strong ethics and governance structures, transparency and stakeholder relationships can be compromised.

The commercial imperative

What kind of challenges do we face?

As a leading employer in the U.S., it is vital that we are clear about the standards of behavior we expect from our directors, officers, employees and anyone else who acts on our behalf. We need to ensure that these individuals act in accordance with our code of business conduct and policies at all times. Every employee has the ability to either positively or negatively impact the integrity of our business.      

What do we need to do?

We must continue to uphold the highest standards of business practice through our policies and employee training. Governance structures, both for the company and for corporate responsibility, are responsible for overseeing this important business function. We also continue to encourage open and transparent relations with our stakeholders to address any concerns and maintain their trust. 

What is the potential to create value?

Companies with robust and transparent oversight benefit from stronger relationships with all of their stakeholders, including customers, employees, investors and lenders, local communities, non-governmental organizations and government and regulators. This results in a lower likelihood for business disruptions and a stronger corporate culture. 

Case study: Transparent good governance

Ethics and integrity in the workplace

Close the case study

Ethics and integrity are at the heart of how we do business at ArcelorMittal; they form a fundamental part of our company’s DNA. In order to further strengthen our commitment, the company identified a set of eight basic principles in 2014 – ArcelorMittal’s principles of integrity – which all employees are expected to follow and promote in our day-to-day work.

These principles are articulated around three key pillars: 

1. honesty and transparency
2. respect and dignity
3. exemplarity
 
The eight principles for everyone at every level of the organization to follow are: 
 
1. be honest
2. be transparent
3. honor your word
4. respect people
5. respect assets
6. respect confidentiality
7. lead by example 
8. communicate about ethics 

Reputation is earned, and our aim is to become the most admired steel and mining company in the world. We want to be known by all our stakeholders as a company that operates with honesty, transparency, respect and exemplarity. We can only achieve this if all our employees follow the same moral standards in their daily work.

Indeed, lack of integrity can have grave consequences – for the individual committing the breach, but also for the company. Multinational companies around the world lose millions every year due to fraud and corruption issues show that these principles are not always systematically followed. For individuals, non-adherence can in the worst case scenario result in criminal charges. For companies, integrity issues can result in reputational damage and financial losses. So there is a lot at stake.

Throughout 2016, ArcelorMittal launched a global campaign to remind employees of what we as a company believe the basic principles of integrity are through a series of articles and illustrations. Communicating our integrity principles across our company demonstrates our commitment to transparent good governance, which underpins everything we do and guides our company toward success.