Wesco 2024 Sustainability Report: Culture of Compliance
Wesco's 2024 Sustainability Report highlights the company's robust ESG oversight and compliance framework. The Board's oversight is distributed among key committees: Audit Committee oversees business ethics and cybersecurity, Compensation Committee handles human capital and safety, and Nominating and Governance Committee manages environmental and supply chain matters.
The Board demonstrates strong diversity metrics with 60% diverse directors, including 30% female representation and 40% racial diversity. Notably, 70% of directors possess environmental and human capital management expertise.
The company's ethics program is built on four pillars: risk assessments, written standards, training, and monitoring. The Code of Business Ethics serves as the foundation, requiring annual certification from all employees. Key policies include Global Anti-Bribery, Human Rights, and Anti-Retaliation measures. In 2023, the company conducted 84 operational audits and enhanced its Business Integrity Line reporting system.
Il Rapporto di Sostenibilità 2024 di Wesco mette in evidenza il robusto framework di supervisione e conformità ESG dell'azienda. La supervisione del Consiglio è distribuita tra i comitati chiave: il Comitato di Audit si occupa di etica aziendale e cybersicurezza, il Comitato per le Compensazioni gestisce il capitale umano e la sicurezza, e il Comitato per le Nomine e la Governance si occupa di questioni ambientali e della catena di approvvigionamento.
Il Consiglio dimostra solidi indicatori di diversità con il 60% di amministratori diversi, includendo il 30% di rappresentanza femminile e il 40% di diversità razziale. È significativo che il 70% degli amministratori possieda competenze in gestione ambientale e del capitale umano.
Il programma etico dell'azienda si basa su quattro pilastri: valutazioni dei rischi, standard scritti, formazione e monitoraggio. Il Codice di Etica Aziendale funge da fondamento, richiedendo una certificazione annuale da parte di tutti i dipendenti. Le politiche chiave includono misure Global Anti-Bribery, Diritti Umani e Anti-Retaliation. Nel 2023, l'azienda ha condotto 84 audit operativi e ha migliorato il suo sistema di segnalazione della Business Integrity Line.
El Informe de Sostenibilidad 2024 de Wesco destaca el robusto marco de supervisión y cumplimiento ESG de la empresa. La supervisión de la Junta se distribuye entre los comités clave: el Comité de Auditoría supervisa la ética empresarial y la ciberseguridad, el Comité de Compensación maneja el capital humano y la seguridad, y el Comité de Nominaciones y Gobierno gestiona asuntos ambientales y de cadena de suministro.
La Junta demuestra sólidos índices de diversidad con un 60% de directores diversos, incluyendo un 30% de representación femenina y un 40% de diversidad racial. Notablemente, el 70% de los directores posee experiencia en gestión ambiental y de capital humano.
El programa de ética de la empresa se fundamenta en cuatro pilares: evaluaciones de riesgos, estándares escritos, capacitación y monitoreo. El Código de Ética Empresarial sirve como base, requiriendo certificación anual de todos los empleados. Las políticas clave incluyen medidas Global Anti-Bribery, Derechos Humanos y Anti-Retaliation. En 2023, la empresa realizó 84 auditorías operativas y mejoró su sistema de informes de la Business Integrity Line.
Wesco의 2024 지속 가능성 보고서는 회사의 강력한 ESG 감독 및 준수 프레임워크를 강조합니다. 이사회는 주요 위원회에 따라 감독이 분산되어 있습니다: 감사위원회는 비즈니스 윤리 및 사이버 보안을 감독하고, 보상위원회는 인적 자본 및 안전을 담당하며, 추천 및 거버넌스 위원회는 환경 및 공급망 문제를 관리합니다.
이사회는 60%의 다양한 이사 등 강력한 다양성 지표를 보여주며, 여기에는 30%의 여성 대표와 40%의 인종적 다양성이 포함됩니다. 특히, 이사 중 70%가 환경 및 인적 자본 관리 전문성을 갖추고 있습니다.
회사의 윤리 프로그램은 네 가지 기둥을 기반으로 합니다: 위험 평가, 서면 기준, 교육 및 모니터링. 비즈니스 윤리 강령은 기초가 되며, 모든 직원에게 연례 인증을 요구합니다. 주요 정책에는 글로벌 반부패, 인권 및 반보복 조치가 포함됩니다. 2023년에는 84개의 운영 감사가 실시되었고, 비즈니스 무결성 보고 시스템이 개선되었습니다.
Le Rapport de Durabilité 2024 de Wesco met en lumière le cadre solide de surveillance et de conformité ESG de l'entreprise. La supervision du Conseil est répartie entre les comités clés : le Comité d'Audit supervise l'éthique des affaires et la cybersécurité, le Comité de Rémunération gère le capital humain et la sécurité, et le Comité de Nominations et de Gouvernance s'occupe des questions environnementales et de la chaîne d'approvisionnement.
Le Conseil démontre de solides indicateurs de diversité avec 60 % de directeurs diversifiés, dont 30 % de femmes et 40 % de diversité raciale. Il est à noter que 70 % des directeurs possèdent une expertise en gestion environnementale et du capital humain.
Le programme d'éthique de l'entreprise repose sur quatre piliers : évaluations des risques, normes écrites, formation et suivi. Le Code d'Éthique des Affaires sert de fondement, exigeant une certification annuelle de tous les employés. Les politiques clés incluent des mesures Global Anti-Bribery, Droits Humains et Anti-Retaliation. En 2023, l'entreprise a réalisé 84 audits opérationnels et a amélioré son système de signalement de la Business Integrity Line.
Wescos Nachhaltigkeitsbericht 2024 hebt den robusten ESG-Überwachungs- und Compliance-Rahmen des Unternehmens hervor. Die Aufsicht des Vorstands wird auf wichtige Ausschüsse verteilt: Der Prüfungsausschuss überwacht Unternehmensethik und Cybersicherheit, der Vergütungsausschuss kümmert sich um Humankapital und Sicherheit, und der Nominierungs- und Governance-Ausschuss verwaltet Umwelt- und Lieferkettenfragen.
Der Vorstand weist starke Diversitätskennzahlen auf mit 60% diversen Direktoren, darunter 30% Frauenrepräsentation und 40% ethnische Diversität. Bemerkenswert ist, dass 70% der Direktoren über Fachwissen im Bereich Umwelt- und Humankapitalmanagement verfügen.
Das Ethikprogramm des Unternehmens basiert auf vier Säulen: Risikobewertungen, schriftliche Standards, Schulungen und Überwachung. Der Code of Business Ethics dient als Grundlage und erfordert eine jährliche Zertifizierung von allen Mitarbeitern. Wichtige Richtlinien umfassen globale Anti-Bestechungs-, Menschenrechts- und Anti-Retaliation-Maßnahmen. Im Jahr 2023 führte das Unternehmen 84 Betriebsprüfungen durch und verbesserte sein Reporting-System für die Business Integrity Line.
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Wesco ESG oversight
NORTHAMPTON, MA / ACCESSWIRE / January 6, 2025 / Wesco International
Read the 2024 Wesco Sustainability Report here
ESG Oversight
The Board is committed to supporting the company's efforts to conduct its business in a principled, transparent and accountable manner. The Board believes that its effective oversight of ESG matters is central to its risk oversight function. The Nominating and Governance Committee is responsible for oversight of significant ESG matters, and the Audit and Compensation Committees are delegated responsibility for oversight of specific ESG topics.
Audit: Responsible for Business Ethics, Cybersecurity, Regulatory Compliance and Legal compliance. Also responsible for ESG-related impacts on our financial reporting and ESG-related disclosures.
Compensation: Responsible for Human Capital Management, Talent, Human Rights, Labor Standards, Health and Safety and Inclusion & Diversity. Also responsible for programs and policies related to the foregoing topics.
Nominating and Governance: Responsible for Shareholder Rights, Board Structure, Climate Change Impact, Waste, Water and Energy, Supply Chain Transparency and Product Lifecycle Management. Also responsible for oversight of significant ESG matters not delegated to another Committee.
Management Teams work with senior leaders to set strategy and develop goals to embed sustainability and ESG objectives across our organization.
Board of Directors
Demographic Highlights:
Diverse directors in terms of gender, race or ethnicity:
60% Female directors:
30% Directors with diversity in terms of race:
40% Audit, Compensation and Nominating & Governance Committee Independence:
100%
Ethics and Compliance
Wesco is firmly committed to operating with the highest levels of ethics and integrity. This commitment is reflected in our global ethics and compliance program, built on four pillars: (i) continuous risk assessments to address ethical and compliance risks, (ii) written standards that set out expected behaviors for employees, managers and other stakeholders, (iii) training and communications to convey expected behaviors, and (iv) monitoring through the use of internal reporting channels, investigations and audits.
Our ethics and compliance program operates under the leadership of the Chief Ethics and Compliance Officer (CCO). The work of the CCO is directly supported by Regional Compliance Officers worldwide. The Executive Compliance Committee provide high-level oversight of the program, comprised of Wesco's chief executive officer, chief financial officer, chief human resources officer, general counsel, and vice president of internal audit and chaired by the CCO. The CCO also provides regular program updates to the Audit Committee of Wesco's Board of Directors during its regular meetings.
The Wesco Code of Business Conduct (the Code) is the foundation of our ethics and compliance program, setting forth standards and guidance for conducting business with the highest degree of honesty and integrity. It defines the basis for decisions and actions across a range of matters, including preventing corrupt business practices, avoiding conflicts of interest, fostering non-harassment and non-discrimination, and protecting personal and corporate data and information. It applies to everyone associated with Wesco - all directors, officers and employees of its subsidiaries- helping us all comply with the laws and ethical principles governing our business. In many cases, the Code requires higher standards of ethical conduct than what is required by law.
We reinforce the principles articulated in the Code to our employees through training and regular communications in local languages. As of 2024, all Wesco employees are annually required to complete Code training and certify that they have read, understand, and agree to comply with the Code. Additional compliance training is also provided to employees based on risks identified in their job roles on topics such as anti-bribery and anti-corruption, conflicts of interest, preventing counterfeit products in our supply chain, and protection of human rights and prevention of modern slavery and human trafficking.
Acting on our principles and speaking up about potential violations of our Code, related company policies and the law is required of all employees. Updated in 2023, Our Business Conduct and Duty to Report Policy describes how employees can report legal or ethical concerns and the measures we take to investigate and address such reports. Our Antiretaliation Policy establishes our promise that those who report issues or concerns will be protected from retaliation.
Wesco provides multiple channels for employees to seek advice and help on ethics and compliance issues. They are encouraged to discuss the issues with a member of management or human resources. Wesco also provides an option for around-the-clock anonymous reporting through the Wesco Business Integrity Line (unless prohibited by local law). Wesco's Business Integrity Line website and web intake form were also upgraded and reintroduced to our employees through a communications campaign launched in 2023.
As we continue to grow and develop our business, we are committed to continuously evaluating and improving our ethics and compliance program. The ethics and compliance office leads an annual review of the Code and related policies to ensure we effectively address and communicate our standards to internal and external stakeholders. Changes are made to the program periodically based on new or updates to existing, applicable laws, emerging and shifting risks and compliance-related trends.
The following list provides an overview of our key ethics and compliance program elements, and additional information can be found in the linked policies and on Wesco.com. Ethics and compliance issues that may be out of the scope of our normal operations that are not covered by a specific policy or program are addressed on an individual basis. When appropriate, we create a new policy, training program, or other proactive measure to address the issue.
Code of Business Conduct: Defines the basis for decisions and actions across a range of matters, including preventing corrupt business practices, avoiding conflicts of interest, fostering non-harassment and non-discrimination, and protecting personal and corporate data and information. It applies to everyone associated with Wesco - all directors, officers and employees of its subsidiaries - helping us all comply with the laws and ethical principles governing our business. In many cases, the Code requires higher standards of ethical conduct than what is required by law.
Global Anti-Bribery and Corruption Policy: Global ethics and compliance policy that articulates Wesco's zero-tolerance approach to corrupt business practices. It establishes a framework to prevent and combat bribery and corruption by promoting integrity, transparency, and ethical business practices within Wesco.
Human Rights Policy: Articulates Wesco's commitment to adhering to business practices aligned with the principles outlined by the United Nations Global Compact, Universal Declaration of Human Rights, UN Declaration on the Rights of Indigenous Peoples (UNDRIP), OECD Guidelines for Multinational Enterprises.
Internal Audit Program: Wesco's internal audit department performs periodic assessments of location branches, distribution centers, and enterprise-level processes and controls to ensure compliance with our policies. In 2023, 84 operational audits were conducted with satisfactory results. Management implemented Internal Audit's recommendations where appropriate.
The internal audit group is also directly involved with the Chief Compliance Officer (CCO) reviewing reported or suspected unethical behavior. It also assists the CCO in conducting special investigations to help enforce the Code of Business Conduct.
Business Conduct and Duty to Report Policy: Our ethics and compliance policy that articulates that all Wesco directors, officers and employees are expected to follow high standards of business and personal ethics while carrying out their job responsibilities. It requires all employees to disclose violations of the Code, related policies, or the misappropriation of Wesco funds or assets. It also provides clear instructions on how to use the numerous channels for reporting issues or concerns.
Anti-Retaliation (Whistleblower) Policy: Policy designed to create a safe and transparent work environment where employees feel comfortable reporting concerns or participating in internal investigations without fear of reprisal.
Anti-Fraud Program: Fraud in any form is not tolerated at Wesco. We fully investigate any suspected acts of fraud, misappropriation, or other similar irregularity regardless of a person's position, title, length of service, or relationship with the company. Anti-fraud guidelines are included in both our Code of Business Conduct and Supplier Code of Conduct. Wesco maintains a robust internal control environment to prevent and detect fraud. Local management serves as the first line of defense in the company against fraud. Senior management, including the corporate controllership, quality assurance, the Vice President, Corporate Ethics and Compliance, and others formulate a second line of defense to prevent and detect fraud. Finally, internal audit, reporting independently to the Audit Committee of the Board of Directors, conducts audits and other reviews of controls and business processes with an obligation to use its expertise to identify trends and patterns that might suggest fraud.
Diverse Business Contracting Compliance: Wesco supports the growth and development of qualified minority, women and disadvantaged business enterprises (MWDBEs). Our Diverse Business Contracting Compliance Policy helps ensure that we are complying with applicable laws and regulations concerning MWDBE participation on government-funded projects. We are committed to the legitimate participation of properly certified MWDBEs that can and will perform a commercially useful function on the public projects in which they participate.
Supplier Code of Conduct: The Supplier Code of Conduct clarifies Wesco's expectations of ethical and responsible corporate business practices for its suppliers. It requires suppliers to conduct their business in compliance with all applicable laws, including those related to employment, protection of human rights, data privacy, health and safety, environmental protection, anticorruption, antitrust and trade sanctions. It also requires suppliers to adopt management systems, policies, procedures, and training to uphold the ethical and legal standards and expectations outlined in it within their business operations.
Business Partner Anticorruption Policy: Wesco policy that applies to all suppliers of products or services to Wesco. It extends Wesco's zero-tolerance for corrupt business practices to its supply chain by strictly prohibiting anyone acting on behalf of Wesco, whether directly or indirectly, from making or receiving improper payments, or engaging in any form of corrupt business practices.
To learn more, download the 2024 Wesco Sustainability Report here.
About This Report
Unless otherwise stated, this report covers activities, data and initiatives from our fiscal year 2023.
ESG Disclosure and Framework Alignment
The topics covered in this report include those that we have determined to be material for our business and stakeholders as noted on page 12. Wesco aligns with several ESG frameworks and disclosures in support of our commitment to transparency and our fulfillment of stakeholder needs and expectations. We leverage the following frameworks and standards to provide robust ESG information disclosure:
Global Reporting Initiative (GRI): GRI offers a list of global standards and guidelines around sustainability reporting.
Sustainability Accounting Standards Board (SASB): SASB provides a comprehensive set of industry-specific disclosure topics and guidelines.
Task Force on Climate-Related Financial Disclosures (TCFD): TCFD provides disclosure recommendations on thematic ESG topics such as governance, strategy, risk management, metrics and targets to provide stakeholders with fuller information surrounding climate risks.
CDP: Formerly the Carbon Disclosure Project, CDP is an international organization that helps companies and cities measure and disclose important environmental impact information through an annual questionnaire and rating system.
United Nations Global Compact (UNGC): UNGC is an initiative that aims to help businesses align their strategies and work toward the U.N.'s Sustainable Development Goals.
United Nations Sustainable Development Goals (U.N. SDGs): U.N. SDGs provide a shared set of 17 toward peace and prosperity for people and planet goals and create a call to action by all countries in a global partnership.
We also regularly engage with our investors, employees, customers, regulators, ratings agencies and others on ESG and business issues. Additional information about Wesco can be found in our public financial filings-including our annual report and proxy filings-as well as on the Security and Exchange Commission's website at www.sec.gov or on the Investors page of our website at Wesco.com.
Wesco plans to continue to report annually as we monitor, measure, and deepen our ESG initiatives and disclosures.
Wesco endorses the United Nations Sustainable Development Goals (SDGs), which are a call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity.
More information about our SDG aligned initiatives is included throughout this report.
Assurance
We did not seek third-party assurance for this report; however, we will consider doing so for future reporting. The information and data contained in this report was vetted by internal subject matter experts on the various ESG topics included in this report.
Contact Us
We appreciate and welcome feedback on our ESG initiatives and reporting and invite you to contact us directly via email at Sustainability@Wesco.com.
View additional multimedia and more ESG storytelling from Wesco International on 3blmedia.com.
Contact Info:
Spokesperson: Wesco International
Website: https://www.3blmedia.com/profiles/wesco-international
Email: info@3blmedia.com
SOURCE: Wesco International
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