Community and Social Issues Policies and Practices
Our Community and Social Issues policies and practices include:
- Community Impact – We support the communities where our employees live and work through local programs and initiatives to help generate local economic activity. We meet with communities to address concerns and alert the public to operational changes that could affect them.
- Charitable Donations – We support charitable causes through corporate grants, our Matching Gift program and in-kind donations. A donations committee reviews requests for financial assistance. We match employees’ eligible donations dollar for dollar between $25 and $10,000 per employee per year. We have developed a matching gift template in partnership with the Saskatoon Community Foundation which other companies can use to develop their own matching gift programs.
- Scholarships – We provide college scholarships for selected children of employees at all locations. All scholarship winners receive the same divisional or corporate monetary award, regardless of country of residence.
- Public Policy Involvement – Given our significant role in the business of modern agriculture, it is important for us to participate in business discussions and public policy debates. PotashCorp supports membership in organizations that aim to maintain a sound business environment. Through active trade association memberships, public affairs activities and political lobbying, we take a leadership role in many of these discussions. Political lobbying takes place primarily through fertilizer associations in the United States and Canada and registered lobbyists in North Carolina and Florida. The PotashCorp Political Action Committee (PAC), created in 2003, is funded solely by US employees to make specific political contributions at federal, state and local levels. In Trinidad, senior management participates in the Port Authority of Trinidad and Tobago, the Regulated Industries Commission, Trinidad and Tobago Chamber of Industry and Commerce and the Board of Governors of the University of Trinidad and Tobago.
- Competition and Pricing – We compete vigorously and independently in conducting our business. At all times we maintain independence of judgment and action when producing, pricing and selling products. We never contravene antitrust or competition laws in any of the jurisdictions where we do business.
- Bribery and Corruption – We will never offer, pay, solicit or accept bribes in any form, directly or indirectly. Employees must reject any demand for or offer of any kind of bribe, and report it immediately to management. We provide guidance on giving and accepting gifts and entertainment. Business partners may not act on our behalf contrary to these policies.
- Fraud Tracking Procedures – Our Legal department has a formal process for reporting, confirming and tracking violations. Each year it reports to the board on the number and nature of complaints. This report is reviewed by the audit committee.
- Risk Analysis – In the past, we have hired consultants to perform high-level Fraud Vulnerability Assessments to identify vulnerabilities and to make recommendations to mitigate risk associated with fraud. The recommendations have been addressed.
