Communication on Progress

Participant
Published
  • 2012/11/29
Time period
  • November 2011  –  November 2012
Format
  • Stand alone document – Basic COP Template
Differentiation Level
  • This COP qualifies for the Global Compact Active level
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer
  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • Statement of continued support

    November 29, 2012

    To our stakeholders:

    I am pleased to confirm that JSC MFO Crystal reaffirms its support of the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption.

    In this annual Communication on Progress, we describe our actions to continually improve the integration of the Global Compact and its principles into our business strategy, culture and daily operations. We also commit to share this information with our stakeholders using our primary channels of communication.

    Sincerely yours,

    Malkhaz Dzadzua
    CEO of JSC MFO Crystal

Human Rights
  • Assessment, policy and goals
  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • We have Written policy on responding general Human Rights and preventing potential abuses. The policy is approved by our Supervisory Board and is a part of our HR regulations and Code of Conduct

  • Implementation
  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • In 2012 we established call center in our Head Office, that is collecting all complaints from clients and staff. We have amended our HR policy and added grievance mechanisms as well as strict procedures for staff dismissal.

  • Measurement of outcomes
  • Description of how the company monitors and evaluates performance.

  • Periodic review of results by senior management. Our HR department is responsible to conduct semi-annual survey among staff and one of the subject is how company adheres to general principles of Human rights and protection. Report is accessible for Management and Supervisory Board

Labour
  • Assessment, policy and goals
  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • - We have Written policy to uphold the freedom of association and collective bargaining and the elimination of forced labour, child labour and employment discrimination. This is part of our HR manual
    - Our HR policy clearly states employee rights and responsibilities and their compensation and benefits.

  • Implementation
  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • - We have totally switched to permanent job contracts and thus enhanced employee protection and promoted long-term partnership
    - HR policy and labor rights are included in general training conducted to the new staff after hiring
    - We have modified our HR policy to better support the Labour principles and staff protection

  • Measurement of outcomes
  • Description of how the company monitors and evaluates performance.

  • - Monitoring of implementation is part of the Internal Audit Process, generally conducted at least twice a year.
    - There is special counsel inside the company that reviews all kind of incidents/violations/conflicts that occur with employees
    - Management monitors result of outcomes by reviewing quarterly reports from HR department and Internal Audit

Environment
  • Assessment, policy and goals
  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • - We have adopted policy on Environmental Protection, on the basis of recommendation of our partners (EBRD). It reflects our responsibilities and obligations towards this issue.
    - We have list of exclusion in our Credit Policy, that limits financing of those business applications that are harmful for environment

  • Implementation
  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • - Environmental Protection is included in training module for credit staff
    - We allocated some funds from our annual budget for social projects stimulating environmental protection
    -

  • Measurement of outcomes
  • Description of how the company monitors and evaluates environmental performance.

  • - Management reviews results of outcomes quarterly and outlines new initiatives/plans in this direction
    - We conducted an internal contest among our branches for revealing the best project on Environmental Protection. The winning branch received special prize and recognition from the management

Anti-Corruption
  • Assessment, policy and goals
  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • - Anti-corruption and non-allowance of bribery is a part of our all main policies.
    - Internal Audit is specifically focus on this issue regularly and reports directly to the Supervisory Board
    - We have some guideline for staff how to act in situations where they are confronted with extortion or bribery

  • Implementation
  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • - There are e-mails and contact details of Chief Management available for each staff and they can directly address them in case of such situation
    - call center and standard grievance mechanisms are in place
    - Our regular training includes facts and examples of corruption and frauds from our past history

  • Measurement of outcomes
  • Description of how the company monitors and evaluates anti-corruption performance.

  • - Any facts of corruption or frauds are part of our report and communicated with Supervisory Board and other strategic partners
    - Internal audit ensures consistency with anti-corruption commitment, including periodic review by senior management