Objectives and scope

Corporate responsibility is the continuing responsible commitment to ethics, stakeholders, and Environment Health and Safety, while at the same time contributing to economic development.

We believe that corporate responsibility reflects in action taken by Premas which includes and strives to go beyond our legal or regulatory obligations, in matters that concern our stakeholders. Our stake holders include our business partners, communities around our businesses, our employees, our shareholders, statutory authorities. Our Corporate responsibility policy will be aligned with our values and shall be the guiding principle in defining all related company policies, including the code of conduct, and our decision making. This policy applies to any activity undertaken by Premas, anywhere in the world. We believe that adherence to this corporate responsibility policy, supported by good governance will provide Premas with a sustainable advantage in terms of image reputation and respect both within and outside the company.

Business ethics

We will assert ethical business behavior. We will reflect integrity in all our actions, and expect integrity from our employees, business partners, and others who act on Premas behalf. They are expected to work with the highest standards and follow the laws of the land wherever they operate. This will be applicable in all dealings that we have. We believe in exhibiting and expecting mutual respect in all our business dealings. We will promote growth through responsible business practices.

Stake holders

In all our relationships with our stakeholders we will ensure ethical business transparency. We will abide by our contractual obligations with our business partners. We will at all times respect and protect the Confidentiality and Intellectual property rights of our business partners.

We believe that we have a social obligation to return value to the community with which our business is interrelated, and we will therefore add value to the community through appropriate interaction. We will also ensure sufficient safeguards that prevent an adverse affect of our business on the community at large.

We trust our employees and believe in the concept of fairness. We will hire, retain, promote and reward employees based on merit and their adherence to our values. We do not discriminate on grounds of race, caste, creed, religion language, and gender. We will facilitate development of our employees, by providing them with the right learning environment to and thereby grow our human capital. We will provide a safe work environment that promotes ownership, excellence and mutual respect, and is free from sexual harassment, and offensive behavior.

We believe that shareholder value is better addressed by creating value for all stakeholders. We will strive to maximize shareholder return, within the framework of our corporate responsibility commitment.

We will abide by the laws of the land. We will involve the statutory authorities with a fair and law abiding approach and present a clean image by word and deed.

Environment, Health and Safety

We will ensure that our commitment to Environment Health and Safety is embodied in the development and adherence to systems and procedures that ensure the safety of our operations, and commitment to environment. We will comply with all environment regulations. We will reduce waste generation as far as is practical and dispose of waste in a responsible manner without creating legacy issues and liabilities. We will continuously explore and implement where feasible, greener environmentally friendly choices including renewable energy products. We will ensure continuous efforts to conserve scarce resources such as water and energy.

We will continuously and systematically anticipate, manage and mitigate related medical and occupational risks and health issues if any, arising to our stakeholders and the local community out of our processes.

Premas will also ensure that appropriate structures are in place to effectively identify, monitor, and manage Corporate Responsibility issues and performance relevant to our business.