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As a company, we strive to do business only with those suppliers who share these principles. Continue to automate and digitize Supply Chain processes in To this end, we work closely with our supply chain to pursue fair-minded competition, continuous Chains and society, and a mutual focus on ethical conduct.
Inthe Supply Chain group updated both its risk assessment and its maintenance technology. As we continue to digitize processes, we expect to generate additional cash flow through improved integration of site maintenance programs and our global procurement and logistics system. Supplier Conduct As part of our commitment to human rights, Barrick developed and implemented a Supplier Code of Business Conduct and Ethics in and added enhancements to it in It covers important issues such as anti-bribery, anti-corruption, human rights, health, safety, and environmental protection — principles Barrick holds dear and expects our partners to share.
It is our intent to deal only? Low-value transactions, non-repetitive transactions in Chains and society areas, and some transactions with local suppliers will not undergo the same rigor as those suppliers being fully certified. The group sources products ranging from diesel fuel and chemical reagents to IT equipment and haul trucks from more than 20, vendors worldwide.
Under the Standard, we conduct due diligence on all entities receiving funds from Barrick—including suppliers, service providers, and civil society groups. The process itself may include internal and external questionnaires, a search of the World Check? World Check is a database that is used to help to identify and manage financial, regulatory and reputational risk.
World Check research identifies hidden risk, and reveals connections and associations between illicit parties, to provide a comprehensive view of risk across the global financial crime landscape. This information is then screened against international watch lists and verified to help meet anti-bribery compliance regulations, as well as compliance with emerging cross-border government regulations, conflict minerals reporting requirements, anti-money laundering laws, and forced-labor trafficking laws.
Under the system, all new vendors are to be assessed according to the Standard and current vendors are to be assessed every three years. High-risk vendors are to be assessed every year. Once Barrick agrees to do business with a supplier, relevant contracts will contain human rights compliance provisions.
We may also provide focused training and support to certain suppliers. We will also ask relevant suppliers to periodically provide certifications that they are not aware of any unreported human rights allegations, and we may offer focused training to certain suppliers.
Local Procurement We believe that responsible economic development can and should improve the lives of stakeholders in the regions where we operate. When done responsibly, economic development is a contributor to a broad spectrum of positive impacts.
Through local procurement, for example, the presence of our operations can directly help host communities and individuals enjoy the rights to work, to food and property, and to an adequate standard of living.
We developed a Local Procurement Standard in The Standard was implemented in under the direction of the Community Relations group. To support these efforts, Barrick has also put in place a local content framework. The development of the framework was a collaboration with all groups impacted by local content policies, including Supply Chain leads, Community Relations, Human Resource leads, mine General Managers, country Executive Directors, Construction Managers, and Project Directors.
This framework outlines the steps needed to develop local employment and local procurement programs, referencing best international practice and embedding lessons learned from other Barrick sites.
An important emphasis is on engaging with internal end users on the mine site and making sure local content programs align with their needs and concerns. Along with buying locally whenever possible, Barrick often works with regional government economic development committees, where they exist, to help our suppliers diversify so that the eventual closure of a mine will not impose undue hardships on local businesses.Importance of ISO Certification for Supply Chains, Sustainability and Society at Large ISO certifications are, in short, standards for businesses practices internationally.
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