Our ‘Business in Balance’ motto guides how we do business: we aim to strike the right balance between social impact, eco-friendliness and profitability. We use a responsible governance approach to achieve this, focused on business ethics, integrity, environmental performance, compliance and clear accountabilities. This ensures business continuity and stakeholder trust.
Redevco’s responsible governance approach is also embedded in our company’s values – Integrity, Excellence, Balance and Team Spirit. These values determine how we work and interact with one another (people), how we ensure sustainability (planet) and how we conduct business (profit). Commitment to these values is considered fundamental and helps us achieve our mission of being ‘your trusted partner in urban real estate’. The values also determine how we:
- Do business fairly and honestly at all times and in all matters – Integrity
- Strive to always improve our work by finding better and more efficient solutions – Excellence
- Think and act as a partner to our stakeholders to ensure continuity – Balance
- Share knowledge and exchange ideas across the group to enable us to act as one – Team Spirit.
We maintain Redevco’s high standards by organising annual workshops for all employees to discuss our values and any dilemmas we face when applying these values in our day-to-day work. As was the case for all companies in 2020, COVID-19 restrictions meant that these workshops moved from face-to-face gatherings to online sessions for all staff. Once staff members received their training, they were requested to sign a document stating that they adhere to the Business Integrity Principles derived from our values. New employees participated in an onboarding programme that clearly explains our values and business integrity principles. In 2020, 100% of employees signed this commitment (100% in 2019). 93% participated in this year’s online integrity workshops (81% in 2019).
In addition, Redevco adopted an ESG Policy in 2020 to ensure that we incorporate environmental, social and governance topics into our company’s investment and management processes. Read more about the Redevco ESG Policy in the case study on page 14.
Building on our opinion that we also have a role to advocate for responsible business practices in our supply chain, we adopted a Supplier Code of Conduct this past year. This expresses our approach to business on E, S and G matters and encourages our supply chain partners who work on our behalf to live up to minimum standards. Coupled with our existing Know Your Customer (KYC) Policy, we encourage our teams to engage with responsible partners and to collaborate to drive forward collective ESG ambitions.
We also adopted a Diversity & Inclusion Policy in 2020 to formalise and strengthen our existing ethos to maintain a workplace in which everyone feels welcome, included and respected, with our teams comprising people of all race, gender, age, religion, identity and experience.You can find more information about these activities in our Business Integrity Principles, our ESG Policy and our D&I Policy, all of which are available on our website. Our Governance, Risk & Compliance (GRC) framework provides a coherent and integrated structure to our day-to-day work through guidance, risk management and controls. The framework supports a corporate culture in which behaviour and decision-making are aligned across all levels. It outlines ‘the way we work’ principles, demonstrating our commitment to conducting business in a manner that respects the interests of our stakeholders, fair competition, data privacy and applicable law.
This framework is essential to achieving Redevco’s mission and ensuring responsible governance. The practical applications of the framework are detailed below.
Redevco’s Business Integrity Principles and Whistleblowing Policy encourage employees to seek advice and report concerns about potential incidents of bribery, fraud, misconduct or other violations of our values and business integrity principles. The Whistleblowing Policy is explained during the annual integrity training to ensure that all employees know the reporting procedure. No cases were reported under this policy in 2020.
“We are committed to maintaining and strengthening a company culture of integrity, eco-friendliness, respect and compliance.”