IMI Hydronic Engineering has installed its newest and
most efficient balancing & control solution into the ALMA
Hospital, Eelko in Belgium, which will help the customer
to meet their efficiency targets.
Our Code of Conduct is a crucial component of The IMI
Way - we must always behave responsibly and ethically.
The Precision Engineering team in France collected
200kg of litter and debris from a National Forest in the
vicinity of their manufacturing site.
IMI is a signatory to the UN Global Compact and we report our climate change data to the
Investor CDP programme, including the Supply Chain CDP to encourage action on climate
change from our key suppliers. FTSE4Good has again recognised our performance across
environmental, social and economic sustainability criteria by continuing to include us in its Index.
Code online
25
Strategic Review
Performance Review
Corporate Governance
Financial Statements
Introduction
Annual Report and Accounts 2014
Business integrity & ethics
Our Code of Conduct (the ‘Code’) sets out
the standards we expect everyone in the
Group to comply with and covers a number
of areas including workplace conduct, anti-
bribery and anti-corruption and fair market
competition. The Code is reviewed annually
and in 2014 amendments have been made
to bring the language in line with the current
expression of the Group’s purpose and
values. All employees are given annual face-
to-face refresher training on the Code and the
importance of ethical behaviour. The Code is
supported by more specific policy and training
and implementation programmes on the areas
it covers.
Our whistleblowing policy encourages
employees to speak up through line
management and our HR teams when they
see conduct that does not accord with the
Code. Where normal channels may not be
appropriate we provide a confidential,
independently operated reporting hotline
in more than 20 languages which enables
employees to raise issues anonymously.
Our Ethics and Compliance Committee
meets monthly to review hotline reports
and is chaired by Geoff Tranfield, Group
Human Resources Director. During 2014,
103 cases were reported which is down
from the previous year (2013: 116 cases).
We also operate a supplier evaluation process
which assesses our suppliers to ensure that
they comply with the provisions contained
within the Code and our Supply Chain Policy.
In 2014, 80 supplier audits took place.
Environment
Our technologies are helping our customers
respond to a number of global environmental
challenges, including climate change,
resource scarcity and urbanisation. In our
own day-to-day business operations, we are
committed to minimising the environmental
impact of our business operations and
becoming more energy efficient.
We operate a Group-wide energy efficiency
programme, Project 20:20, that was launched
in 2011 and covers 20 of our largest energy
using sites, which together account for more
than 70% of our overall energy consumption.
To date, Project 20:20 has identified over 100
best practice emissions reduction projects,
which are now being rolled out across this
group. Projects in 2014 included ‘right-sizing’
and modernisation of a ventilation system
saving some 18 tonnes of CO
2
at our IMI
Precision site in Farmington, USA. We also
enhanced the use of local hydro-electric
power at IMI Hydronic Engineering in Sweden
and this is providing us with 300,000 kWh of
electricity per annum. Collectively, the energy
efficiency initiatives completed in 2014 will
provide savings of around 800 tonnes of
CO
2
e per annum.
All this work has delivered some tremendous
savings. Our 2014 gross CO
2
e emissions
have reduced by 9% to 62,500 tonnes
compared with the previous year (2013:
69,000 tonnes). Of this amount 43,000
tonnes resulted from the purchase of
electricity, heat, steam or cooling by IMI
(2013: 47,500 tonnes). Our normalised
performance has improved from 39.6 to
37.4 tonnes per £million sales from 2013 to
2014, which is a 6% reduction. This is very
encouraging as we move into the final year
of our three-year target period that is seeking
at least 7.5% reduction compared to 2012.
For further information please refer to
page 142 of the Directors’ Report.
Community
We have a significant presence around the
world and in addition to benefits from creating
jobs and investment we believe we should
directly contribute through relevant charitable
and educational community programmes.
In addition to the Group charitable donations
policy, where we support a range of
national and international causes, some of
our business units have relationships with
charities that are local to their operating sites.
In the Czech Republic, colleagues from
IMI CCI Brno were nominated for a national
award by the Kociánka Center who they have
had a relationship with for a number of years.
The nomination was in appreciation of the
relationship between the Center and
employees who have not only given
donations, but also their time to help this
worthwhile organisation, which helps prepare
children and adolescents with physical or
learning difficulties for mainstream schools
and jobs.
In addition to programmes which run
throughout the year, on one dedicated day
each year – The IMI Way Day – all of our
employees spend time engaged in activities
to benefit their local community. These
activities included employees collecting
donations for food banks, renovating a local
play area used by disadvantaged children,
painting and clearing out a community centre
used by the elderly, volunteering at local
hospices, and raising money for a school
for blind children.
