Publication of 2024 Ethics and Compliance Report
Baar, Switzerland
15 April 2025
We are pleased to present the latest edition of our Ethics and Compliance Report. This report offers a comprehensive overview of our Ethics and Compliance Programme (Programme), including a summary of our approach, compliance governance and structure, as well as the various systems and processes we have implemented to support our Programme.
It also includes insights from some of our regional and local Compliance teams, who discuss the challenges they face and their achievements in implementing our Programme across our diverse and complex global business. Additionally, it features a selection of functional and departmental leaders discussing their collaboration with the Compliance function, the support they receive from Compliance, and their efforts in helping Compliance implement the Programme.
Shaun Teichner, General Counsel, notes “We value the feedback of our stakeholders and are committed to transparency. Our Ethics and Compliance Report provides an overview of where we have been focusing our efforts over the past year as we continue to apply and improve our Programme.”
We have engaged constructively with our independent compliance monitors over the last two years and made significant strides to embed a culture of compliance and to continue to enhance our Programme. The Company is pleased that the US Department of Justice (DOJ) has recognised these efforts and terminated the monitorships earlier than scheduled.
Gary Nagle, CEO, commented “I appreciate the recent acknowledgement from the DOJ on our efforts to enhance our Programme. While the monitorships have required a tremendous amount of work over the past two years, we have a stronger Programme as a result. I would like to thank our leadership team for their support and collaboration during this period.”
As we move forward, we remain committed to maintaining an effective Programme and meeting our obligations under the resolutions with the DOJ. We encourage our stakeholders to review this year’s report to learn more about the initiatives we have undertaken. We will continue to provide updates on our Programme in our annual reporting suite as part of our efforts to maintain transparency and accountability and keep our stakeholders informed.
Read the full report at glencore.com/publications
For further information please contact:
Investors
Martin Fewings
t: +41 41 709 28 80
m: +41 79 737 56 42
martin.fewings@glencore.com
Media
Charles Watenphul
t: +41 41 709 24 62
m: +41 79 904 33 20
charles.watenphul@glencore.com
Company Secretarial
John Burton
t: +41 41 709 26 19
m: +41 79 944 54 34
john.burton@glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 30 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.
Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
We will support the global effort to achieve the goals of the Paris Agreement through our efforts to decarbonise our own operational footprint. For more information see our 2024-2026 Climate Action Transition Plan, available on our website at glencore.com/publications.
Important information
This material does not purport to contain all of the information you may wish to consider. For further important information, including in connection with forward-looking statements and other cautionary information, refer to the Important notice section of Glencore’s 2024 Annual Report, which is available at glencore.com/publications. This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.