Piaggio & C. S.p.A. has the conviction that the ethics of its business management is to be pursued in conjunction with the success of the enterprise. (Code of Ethics, art. 1)

Piaggio & C. has adopted a Code of Ethics since 2004 for the Organisational Model pursuant to Italian Legislative Decree 231/2001.

The Code of Ethics was last revised in 2017 as part of the revision carried out on the Organisation Model pursuant to Legislative Decree 231/2001. In particular, a new article has been introduced, specifically dedicated to safeguarding human rights, with a focus on preventing "modern slavery". Through this article, the company expresses its commitment to recognising and ensuring the utmost respect for the principles that protect human rights, as shared at international level and articulated in a number of international conventions, specifically with regard to respect for personal dignity and for rights relating to personality and the prohibition of all forms of discrimination, in particular where employees are concerned.

These principles, already adopted by the company in that they are implicit in the Code of Ethics, have been described more explicitly, with a view to ensuring that the Code is fully in line with the ethical and social values that inspire Piaggio Group's activities, and upon which these are based.

Even before the introduction of the article, these principles were respected by the company, in light of the fact that they are implicit in the Code of Ethics and inherent to the Group; here, they have been described more explicitly, with a view to ensuring that the Code is fully in line with the ethical and social values that inspire Piaggio Group's activities, and upon which these are based.

The company has also issued a Modern Slavery Statement, designed to ensure that the Group's activities comply with the regulatory provisions set out under the Modern Slavery Act 2015, as issued by the British Parliament; all companies operating in the UK are obliged to observe the stipulations contained therein.

The Code of Ethics, available on the company's website (www.piaggiogroup.com/Governance), has been disseminated extensively and is in force in all of the Group's companies. It defines the principles and values which the entire company organisation takes inspiration from in a clear and transparent manner:

  • Complying with the laws of countries where Piaggio operates;
  • Dismissing and condemning unlawful and improper behaviour;
  • Preventing breaches of lawfulness, constant search for transparency and openness in managing the business;
  • Seeking excellence and market competitiveness;
  • Respecting, protecting and valuing human resources;
  • Pursuing sustainable development while respecting the environment and rights of future generations.

The Group's Code of Ethics sets out the social and ethical responsibilities of each member of the company's organisation. In particular the ethical and social responsibilities of senior management, middle management, employees and suppliers are defined in order to prevent any party acting in the name of and on behalf of Group companies, from adopting a conduct which is irresponsible or unlawful.

The articles of the Code of Ethics also set forth an important principle on how to manage relations with policy makers: “The company does not make contributions or offer advantages and/or benefits to political parties and trade unions or to their representatives or candidates without prejudice to compliance with applicable law."

In view of the specificity and relevance of the Indian economy, the Code of Business Conduct & Ethics and the Whistle Blower Policy have been drafted and adopted since December 2016 for the Indian affiliate; the Whistle Blower Policy is specifically intended to protect and guarantee those who report any alleged violations of the Code, thereby also safeguarding the effective application of the Code itself.

At the same time, again in view of the peculiarities of the Indian society, a "Policy on Prevention of Sexual Harassment of Women in the Workplace” has been adopted by the Indian affiliate to prevent incidents of sexual harassment at the factory.

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