Our Responsible Procurement

The Group's main suppliers include companies that process copper, aluminium, steel and iron, and manufacturers of motor fans. In this context, the Code of Ethics and the General Purchasing Conditions formalise the behavioural principles that guide the Group's activities and the ethical principles and rules of conduct, also relevant in the context of relations with suppliers and business partners.

With the aim of increase control over the supply chain, the LU-VE has defined the specific targets in the Sustainability Plan: i) increase the number of audits on suppliers (15 audits by the end of 2025; ii) increase the percentage of relevant suppliers that have signed the Supplier Form, that requires compliance to regulation on environmental, working condition and human rights (target: >71% by 2025).

Furthermore, LU-VE is diligently working on its supply chain for "Conflict Minerals". Although not subject to the obligations defined by this regulatory framework, the Group has nevertheless voluntarily chosen to adopt a responsible metal sourcing policy based on the OECD document "Guidelines on due diligence for responsible supply chains of minerals from conflict-affected and high-risk areas". The Group applies due diligence to the sourcing of tin, tantalum, tungsten and gold (“3TG”), and their derivatives, as well as cobalt and mica, through the direct and periodic involvement of our suppliers to identify and mitigate the risks associated with their sourcing.