Code of Practice for Corporate
1.1 The Corporate Social Responsibility Code of Practice has been adopted by the Board of Directors of Ace Oil Tools AS.
1.2 The purpose of the Code is to ensure that Corporate Social Responsibility is brought to bear in line with our Values, Code of Ethics, Corporate Governance Code of Practice and long-term value creation by the company for shareholders, employees, customers and the community.
1.3 The Code applies to employees of Ace Oil Tools AS (ACE). It also applies to elected board members when they act on behalf of the company. All employees of ACE shall comply with this Code.
2.1 ACE does not discriminate on the grounds of ethnicity, nationality, religion, age, gender, disability or sexual orientation. Respect for the individual is fundamental; everyone shall be treated with dignity and respect.
2.2 ACE wants fair and open competition in all markets. ACE has high standards of personal and professional integrity, and will not tolerate any form of corruption or bribery.
2.3 ACE follows established workplace and labour standards and complies with all requirements of relevant legislation. ACE will apply working methods that ensure good working conditions, with strict health, environment and safety requirements. ACE shall not make use of child labour.
2.4 ACE shall maintain open, reliable and responsive communication with stakeholders and the community at large.
2.5 ACE's products and services shall be reliable in terms of quality, origin and their impact on health and environment.
2.6 ACE shall seek to prevent or mitigate any adverse environmental impact caused by its activities.
3. COMPLIANCE, CONTROL AND SANCTIONS
3.1 ACE shall at all times ensure compliance with all aspects of this Corporate Social Responsibility Code of Practice as an integral part of its internal and external auditing activities.
3.2 ACE shall methodically assess any social impact of its activities, and implement improvements and other measures where necessary.
3.3 ACE shall help ensure compliance of contractors with the principles specified in article 2.2 by including them in its requirements for contractors.
3.4 Notification of violations of the Code is the same as for the Code of Ethics. All material violations of the Code shall also be reported to the ACE Board of Directors.