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GE ENVIRONMENTAL, SOCIAL AND GOVERNANCE
“Our technology solves the world’s toughest problems. We fight for and support our customers in more than 180 countries. We innovate and drive new industrial paradigms like additive manufacturing and software and analytics. We launch products that lead in their industries. We operate with the highest integrity and commitment to compliance. We invest in our leaders and in developing global, diverse talent. And our employees dedicate themselves day in and day out to fulfilling GE’s mission.”
John Flannery, CEO and Chairman, GE
GE infuses compliance and governance into every aspect of its business.
We are committed to maintaining a world - class compliance culture in every GE business and everywhere we operate around the world. We recognize that our reputation for integrity and compliance is a competitive advantage, and are proud to have been honored as one of Ethisphere’s World’s Most Ethical Companies for 12 straight years (2007 – 2018).
At the heart of GE’s Integrity & Compliance program is The Spirit & The Letter.
GE’s commitment to performing with integrity is instilled in every employee as a nonnegotiable expectation of behavior. This expectation is guided by our integrity policy, The Spirit & The Letter, and is underscored by an extensive system of policies, processes, training and communications. A summary of the most critical elements is available as a Simple Reference Guide.
GE’s Integrity & Compliance program focuses on prevention, detection and response.
It begins with personal engagement on integrity from GE’s leadership and is supported by robust compliance processes. GE leaders personally drive a culture of integrity everywhere GE operates – everyone, everywhere, every day, achieve the active oversight of compliance risk areas.
A hallmark of GE’s compliance program is a steadfast commitment to a vibrant, well-publicized and effective “open reporting environment.”
Employees are encouraged to raise integrity concerns and to feel confident that they can do so without fear of retaliation. GE employees remain the Company’s first and best line of defense in the early detection of potential compliance issues. During 2017, more than 4,440 integrity concerns were reported, leading to 1,423 disciplinary actions as of March, 2018.
Elements of Our Program
GE strives to be out in front of significant compliance risks to ensure the Integrity & Compliance program is evolving as new risks emerge. With changing workforce demographics and modes of communication, our program requires constant reinvention to stay relevant for a global community.
GE believes that simpler compliance is better compliance, and therefore has been making strides to simplify the program. For example, in 2016, GE began piloting compliance-based training within the applications employees use each day.
Data is increasingly important in how we work. Systems and processes result in data that can yield insights into program health. For example, in 2016 we piloted a monitoring program for business courtesies.
Working Horizontally (Respond)
It’s increasingly important to get the balance right between local and global processes. Where controls are similar, GE finds that one policy and process results in better outcomes. For example, the centralized business courtesies monitoring.
GE’s policy against improper payments in business transactions is a key element of The Spirit & The Letter and represents a core belief in how we do business.
GE’s approach to compliance in this critical area is multifaceted. GE’s policy against improper payments in business transactions is a key element of The Spirit & The Letter and represents a core belief in how we do business. Among its key features are: policies and procedures, controls, investigation and remediation, training, due diligence, and Corporate Audit Staff support.
World’s Most Ethical Companies
Ethisphere Magazine, 2018
World’s Most Admired Companies
World’s Most Respected Companies
Attorneys that Matter
Ethisphere Magazine, 2017