Published: May 2, 2024 |

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Glencore has published its third annual Ethics and Compliance Report in line with its commitment to being a responsible and ethical operator.

Similar to the previous editions, this year’s report provides a detailed overview of its ethics and compliance program, including a summary of their approach, compliance governance and structure, and the various systems and processes that they implement to support their program.

The 2023 report further includes an update on the work undertaken by the compliance monitors mandated under their resolutions with the United States Department of Justice, which commenced in June 2023.

“The board and management of Glencore are clear — acting in accordance with our values, our code of conduct, and the law is non-negotiable. When we do so, day-in and day-out, we are able to protect and enhance our reputation as a business partner of choice,” said Kalidas Madhavpeddi, chairman.

“In the past year, we have continued to enhance our program and are working hard to further embed ethics and compliance in each facet of our business, no matter where in the world we operate. We continue to invest significant resources in systems and people towards building, implementing and maintaining a ‘best-in-class’ program,” said Gary Nagle, chief executive officer.

Glencore said they are committed to utilizing the lessons learned from prior misconduct not only to drive their own focus on ethical business practices, but also to help address the challenge of corruption in the extractive industry.

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, they produce, process, recycle, source, market and distribute the commodities that enable decarbonization while meeting the energy needs of today. With more than 150,000 employees and contractors and a strong footprint in more than 35 countries in both established and emerging regions for natural resources, their marketing and industrial activities are supported by a global network of more than 50 offices. Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. They also provide financing, logistics, and other services to producers and consumers of commodities.

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