Yokogawa has explicitly defined respect for human rights as part of the Group's policies in the Yokogawa Philosophy, the Yokogawa Group Code of Conduct, and the Group Management Standards (GMS). Yokogawa has also declared its support for the UN Global Compact; we pursue initiatives based on respect for the human-rights guidelines proclaimed in the Global Compact, as well as international human-rights standards.
The GMS, which are applied throughout the Yokogawa Group, state in writing the basic policies for the Group's management. These standards provide clear rules and guidelines relating to matters including human rights, obedience to the law, and occupational health and safety. Regarding human rights initiatives throughout our supply chain, our Sustainable Procurement Guidelines include provisions prohibiting forced labor, child labor and discrimination. The guidelines also cover appropriate wages, legal compliance regarding work hours, and employees' right to organize. Our suppliers are required to obey these guidelines.
The Yokogawa Group Code of Conduct, which provides a basic policy and standards of action to guide the Group and all individuals engaged in Group business to achieve our corporate philosophy, sets the standards regarding human rights shown below. (The following is an excerpt from the Yokogawa Group Code of Conduct)
Respect for human rights
Relationship between the company and employees
Relationship with local communities and society
Yokogawa supports the human rights recognized internationally by the following standards and guidelines and works to promote human rights.
The Yokogawa Group Code of Conduct, which defines the basic policy on human rights, was established with the approval of the Board of Directors. We have established an internal system in which the President and CEO has the highest responsibility for human rights in the Group, and we are implementing ongoing efforts. The Human Rights Committee Working Group, which members are selected from the departments related to human rights, is working on concrete human rights agenda.
Yokogawa is committed to implementing human rights due diligence to identify, prevent, and mitigate potential negative impacts on human rights throughout our business and the supply chain and to achieve accountability for our activities.
We have built internal control systems for the entire group for occupational safety and health, labor management, and purchasing and sales management, and are working to reduce risks with taking corrective actions when we identify problems.
In addition, we have set up hotlines for everyone working at Yokogawa as a means to prevent human rights violations.
In fiscal 2019, we assessed potential human rights risks throughin our business activities and value chain, partneringtogether with BSR (Business for Social Responsibility),, whichwho is an NGO that is globally active working in the areas of business and sustainability.
This assessment identified human rights issues of high priority by confirming company policies, business activities and the operating status of the internal control systems, and interviewing relevant parties in the Group as well. The priority is determined by two perspectives: salience of the risk of giving adversely impact through our business activities and business relationships, and Yokogawa’s ability to manage the risks.
Human Rights Risk of the Yokogawa Group
As a results of risk assessment, the following six items were identified as human rights risks with highest priority; social and environmental impacts, forced, bonded or compulsory labor (employee), health and safety (employee), fair business practices, product quality and security, and working conditions (employee).
Regarding high priority human rights risks, we will work further to reduce the risks, taking into account the characteristics of each country and region. If we find some problem, we will take appropriate measures.