VALUE STATEMENT
In October, Codelco celebrated the first anniversary after announcing and implementing its Value Statement, with various activities during the week known as Codelco lives its Values. All the operation centres confirmed the company’s commitment to management applying these values as the focal point that defines how things are done in the company.
The following are the key activities conducted:
- Sharing Reflections with Value: Everybody who works at Codelco was invited to send in reflections based on their own experience arising from their daily activities. 67 reflections were received, which were then included in the support material distributed across the company.
- Sharing Values with the Community: During this week the different production centres carried out activities with the community to communicate company values.
- 2011 Codelco Pride Award: At each operation centre the first event was held to recognise the people who embody the company’s Value Statement, through their conduct and exemplary work behaviour. The people nominated to the Codelco Pride Award are presented by their peers.
A large number of employees participated in other activities carried out during the year to disseminate this document and make it part of the daily routine.
For example, ceremonies where the Executive Committees signed their commitment to the Value Statement; workshops with supervisors and employees to instruct them about the values and related behaviour the company wants to promote; reflection periods to reinforce decision making in relation to Codelco Values, and participation in the Business Ethics and Values Barometer survey. This survey reveals, among its main conclusions that the Value Statement has been successfully disseminated and promoted in Codelco. Our future challenge is to continue reinforcing coherence between work conduct, daily routine and commitments made through the Value Statement.
Code of Business Conduct
On 9 August, at the Extended Executive Meeting, the latest version of the Code of Business Conduct was presented, which was subsequently given to all employees.
The Code of Conduct, in addition to the Value Statement, aims to provide clear criteria on appropriate business behaviour for Codelco to continue to be the main mining company of Chile.
This document gives guidance on what must always and what must never be done and, between these extremes, it is a tool that prudently and reflexively gives guidelines on how to behave in complex situations.
The Code of Conduct helps to solve doubts, make decisions and protect best practices in the company. It targets everyone who works in or represents the Company, regardless of their role or type of contract. These guidelines are applied across the company, among colleagues, suppliers, contractors, commercial partners, customers, authorities and communities.
Complaint Hotline
This document allows any employees to anonymously, safely and confidentially report potential violations of the Code of Business Conduct, via Internet (http:// Codelco.ethicspoint.com) or phone call (1230-020- 5771).
As at 31 December 2011, 120 complaints were received, of which 111 were investigated and closed; and 9 were under investigation.
The conclusions for the 111 closed cases are as follows: in 35 cases different administrative measures were taken and received a written warning, a verbal warning, discharge and corrective control measures; in 59 cases, they did not have sufficient grounds, and the remaining 17 cases did not violate the Code.
Transparency Law Compliance
Since April 2009, when Law 20,285 on Transparency of Public Functions and Access to Information on State Administration became effective, Codelco has had on its website www.codelco.com a section with all the information required by this regulation.
This law is applicable to public companies as Active Transparency, i.e., it requires the following information to be made publicly available on the Internet:
- Regulatory framework applicable to Codelco.
- Board of Directors; organisational structure; responsibilities and competencies of executive staff.
- Financial statements and other information filed with the Superintendency of Securities and Insurance (SVS).
- Codelco subsidiaries and associated companies, and any interest it holds in other entities and organisations.
- Fees and remunerations of Codelco board directors and employees.
Reporting and Transparency
Codelco has an ongoing, collaborative relationship with the regional, national and international media. In 2011, based on Codelco records, a total of 10,627 articles were reported in newspapers, magazines radios and TV channels on different topics related to Codelco management. This represents a 5.81 % increase over articles published in 2010, which is particularly due to the media impact of the environmental incidents at La Greda and the dispute between Codelco and Anglo American.
The Company also reports quarterly financial-economic results at press conferences and through direct communication channels, such as its website (www. codelco.com), emails, magazines and e-bulletins targeting different audiences. In addition to press reports, in www.codelco.com, data and information on the most relevant issues relevant to Codelco are published.
In August 2011, Codelco’s website was upgraded, this project began in 2010. As a result of this change, that also includes support and tracking, but we do not have access to data on visits to compare with 2010; however, measurements between August and December showed an average 135,000 visits per month.
In 2011, Codelco began streaming press events, expanding the impact of the company’s messages. During 2011, six press conferences were broadcasted via internet.
Since 2009, and so that people know more about the company, especial the youth segment, Codelco incorporated social networks as a dissemination channel. By December 2011, the Company had 2,310 fans on Facebook; 5,320 followers on Twitter; close to 2,000 photos on Flickr with 165,562 visits, and 118 Codelco videos uploaded on You Tube, which have had 83,049 visits.
Codelco does not publish commercial advertisements or infomercials in the media.
Aldeaminera.cl
In 2010, the website www.aldeaminera.cl mainly focused on developing a strategy to introduce a new image into the web 2.0 world, based on the needs and opportunities detected during the Observatory conducted the previous year. The upgrade results will be reported during the first quarter of 2012.
In keeping with the line to offer Codelco employees and their families information and services to improve their quality of life in different daily environments, the first stage of the Persomatic was implemented for aldeaminera.cl and it increased the number of experts, who answer users’ questions free of charge. A team of dentists from Universidad Católica and a specialist in sleep disorders and chronic fatigue were also incorporated.
By the end of 2011, the number of single users had increased by 20%.
