Sponsorships can provide a way for Albemarle to help strengthen our communities, engage with customers and partners, and raise awareness of Albemarle’s role in the communities in which we operate. To address fraud and corruption concerns we must ensure that sponsorship funds are paid to the authorized recipient and used for their intended purpose.
- We undertake commercial sponsorships for legitimate business and brand development purposes.
- We do not offer or provide or promise commercial sponsorships directly or indirectly with the intent to improperly influence any person (including a government official) in order to gain business or an improper advantage.
- We do not use commercial sponsorships to inappropriately benefit ourselves, our relatives, friends, or associates.
Our Code Principles in Action
- Ensure planned commercial sponsorships are included in the appropriate Annual Operating Plan.
- Obtain pre-approval before offering or providing a commercial sponsorship on behalf of Albemarle in accordance with the Anti-Corruption Policy and the Commercial Sponsorships Procedure.
- Follow this Code (Offering or Accepting Gifts & Hospitality) if the sponsorship will entail providing anything of value, including gifts or hospitality, to event participants.
- Consult with Corporate Communications to ensure the recipient of the commercial sponsorship uses the appropriate trademarks, and other Albemarle branding materials.
- Ensure that the commercial sponsorships is paid to the authorized recipient; used for the approved purpose; supported by a receipt; in line with any local tax requirements; and booked to an appropriate Group Ledger account.
- In accordance with this Code (Managing Conflicts of Interest) discuss with your supervisor and register the conflict if you, your spouse, your partner or your relative is directly or indirectly associated with the recipient of a sponsorship that you have requested or have been asked to authorize.