Our Respect for Governance
Competition and Fair Dealing
Every Neo employee has to abide by the competitive behaviour guidance, as defined in the Neo Code of Business Conduct and Ethics Policy that is signed at commencement of employment and re-signed annually. We compete fairly and honestly by developing leading products based on design and performance. We do not engage in unethical or illegal business practices such as stealing proprietary information, possessing trade secret information that was obtained without the owner’s consent or inducing disclosure of this type of information by past or present employees of other companies.
Protection and Proper Use of Company Assets
Every Neo employee has to abide by the company assets use corporate guidance, as defined in the Neo Code of Business Conduct and Ethics Policy document that is signed at commencement of employment.
Theft, carelessness, and waste of NEO assets have a direct impact on our profitability and should be avoided. Any suspected incident of fraud or theft should be immediately reported to a supervisor or, if appropriate, a more senior manager for investigation. We carefully safeguard our confidential information. Unauthorized use or distribution of confidential information is prohibited and could also be illegal, resulting in civil or even criminal penalties.
Compliance with Laws and Regulations
Compliance with laws and regulations guides every decision we take at Neo. The strength of Neo’s compliance record is at the core of its ability to expand operations or gain permits. Neo had no significant instances of non-compliance with laws and regulations in 2021 – by extension, neither fines nor nonmonetary sanctions were incurred.
Monitoring the level of non-compliance within Neo helps indicate the ability of management to ensure that operations conform to certain performance parameters. From an economic perspective, ensuring compliance helps to reduce financial risks that occur either directly through fines or indirectly through impacts on reputation. In some circumstances, noncompliance can lead to clean-up obligations or other costly environmental liabilities. Neo’s legal team frequently assesses the risk of administrative or judicial sanctions for failure to comply with environmental laws and regulations.
The regulation monitored include both environmental (e.g. emissions, effluents, and waste, as well as material use, energy, water, and biodiversity) and other ones related to our products or our administration (e.g. Ontario Securities Commission). This includes binding voluntary agreements that are made with regulatory authorities and developed as a substitute for implementing a new regulation.