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Conduit Ventures Limited has considered the statements of business principles of some of its Limited Partners and has adopted similar principles where they are appropriate to our role as a provider of venture capital.
Objectives:
The objective of Conduit Ventures Limited is to engage efficiently and responsibly in the fuel cell and related infrastructure industry. Conduit Ventures Limited seeks a high standard of performance.
Responsibilities:
Conduit Ventures Limited recognises five areas of responsibility:
1. To investors and capital providers:
To protect our Limited Partners’ interests and provide outstanding investment returns.
2. To investees:
To assist any companies in which Conduit Ventures Limited invests to achieve their technological, financial and commercial objectives.
3. To employees:
To respect the human rights of their employees, to provide their employees with good and safe conditions of work, and good and competitive terms and conditions of service, to promote the development and best use of human talent and equal opportunity employment, and to encourage the involvement of employees in the planning and direction of their work, and in the application of these principles within Conduit Ventures Limited. It is recognized that commercial success depends on the full commitment of all employees.
4. To those with whom they do business:
To seek mutually beneficial relationships with contractors, suppliers and in joint ventures and to promote the application of these principles in so doing.
5. To society:
To conduct business as responsible corporate members of society, to observe the laws of the countries in which Conduit Ventures Limited operates, to express support for fundamental human rights in line with the legitimate role of business and to give proper regard to health, safety and the environment consistent with Conduit Ventures Limited's commitment to contribute to sustainable development.
These five areas of responsibility are seen as inseparable. Therefore it is the duty of management continuously to assess the priorities and discharge its responsibilities as best it can on the basis of that assessment.
Economic principles:
Obtaining an attractive return on the investments made by Conduit Ventures Limited is essential to our limited partners and to support the continuing investment required to develop and produce safe and economic fuel cells and hydrogen technologies to meet customer needs. Without a strong financial foundation, it would not be possible to fulfill the responsibilities outlined above.
Conduit Ventures Limited works in a wide variety of changing social, political and economic environments, but we believe that the interests of the community can be served most efficiently by a market economy.
Business integrity:
Conduit Ventures Limited insists on honesty, integrity and fairness in all aspects of its business and expects the same in its relationships with all those with whom it does business. The direct or indirect offer, payment, soliciting and acceptance of bribes in any form are unacceptable practices. Employees must avoid conflicts of interest between their private financial activities and their part in the conduct of company business. All business transactions on behalf of Conduit Ventures Limited must be reflected accurately and fairly in the accounts of the company in accordance with established procedures and be subject to audit.
Political activities:
Of Conduit Ventures Limited:
Conduit Ventures Limited acts in a socially responsible manner within the laws of the countries in which it operates in pursuit of its legitimate commercial objectives.
Conduit Ventures Limited does not make payments to political parties, organizations or their representatives or take any part in party politics. However, when dealing with governments, Conduit Ventures Limited has the right and the responsibility to make its position known on any matter which affects it, its employees, its customers, or its shareholders. Conduit Ventures Limited also has the right to make its position known on matters affecting the community, where it has a contribution to make.
Of employees:
Where individuals wish to engage in activities in the community, they will be given the opportunity to do so where this is appropriate in the light of local circumstances and their obligations to Conduit Ventures Limited.
Health, Safety and the Environment:
Consistent with its commitment to contribute to sustainable development Conduit Ventures Limited pays close attention to health, safety and environmental management.
The Community:
The most important contribution that companies can make to the social and material progress of the countries in which they operate is in performing their basic activities as effectively as possible. In addition Conduit Ventures Limited take a constructive interest in societal matters. Opportunities for involvement; for example through community or educational programs will vary depending upon the size of resources available to Conduit Ventures Limited at any particular time and the nature of the local society, and the scope for useful private initiatives.
Competition:
Conduit Ventures Limited supports free enterprise. It seeks to compete fairly and ethically and within the framework of applicable competition laws and will not prevent others from competing freely with it.
Communication:
Conduit Ventures Limited recognizes that in view of the importance of the activities in which it is engaged open communication is essential. To this end, Conduit Ventures Limited has a corporate information program and provides full relevant information to legitimately interested parties, subject to any overriding considerations of business confidentiality and cost. We are highly sensitive to confidentiality and respect the confidentiality of information which we receive in the marketplace. While we do not typically sign non-disclosure agreements, we are professional venture capitalists and respect confidentiality strictly.
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