FRANKFURT, GERMANY - Fraport AG - the owner and manager of Frankfurt Airport (FRA) - has undertaken a further step to establish a common ethics and values policy across all of the Group's companies. Fraport's executive board has issued two new Codes of Conduct for employees and suppliers, which define binding rules for dealing with the ethical, commercial, and legal challenges of everyday business. Both documents incorporate the principles of internationally recognized standards of behavior, such as the UN Global Compact (United Nations) - which Fraport is a member of - as well as the Organization of Economic Cooperation and Development's (OECD) Guidelines for Multinational Enterprises and the International Labour Organization's (ILO) core labour standards. Fraport has also developed a new policy comprising all basic values adopted by the company. Under the new policy, the two Codes of Conduct and the company's ongoing environmental policy have been integrated into one framework.
Dr. Stefan Schulte, Fraport AG's executive board chairman, said: "By introducing the new Codes of Conduct, we are consistently expanding Fraport AG's values management. Over the past ten years, our values management has defined exemplary rules of behavior and general obligations for all employees. Thus, we are fulfilling the demands of responsible corporate governance - which has become an essential asset for globally operating companies today."
Both Codes of Conducts take into account issues related to compliance, working conditions and human rights. The Code of Conduct for suppliers - which is mandatory for all suppliers and service providers having a direct business relationship with Fraport AG - also comprises environmental issues. In a first step, the codes will be introduced at the Fraport parent company in Frankfurt, Germany. The Codes of Conducts will then be successively rolled out at all major subsidiaries of the Fraport Group.