Olympic – Supplier Declaration

1. Introduction

This Supplier declaration sets forth ethical, legal, and sustainability standards expected from suppliers working with OLYMPIC It aligns with globally recognized principles, including:

• OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (2023)
• United Nations Guiding Principles on Business and Human Rights (UNGP)
• International Labour Organization (ILO) standards
• United Nations Global Compact (UNGC) – Ten Principles

All Olympic Suppliers must incorporate responsible business practices in line with the above instruments across their operations and supply chains, and adhere to all applicable laws and regulations

2. Commitment to Human Rights and Labour rights

Suppliers to Olympic are expected to uphold and respect human rights in all aspects of their business operations as outlined in the UNGP.

Expectations of our suppliers

• The existence of a policy commitment to meet suppliers’ responsibility to respect human and labour rights.
• A human and labour rights due diligence process to identify, prevent, mitigate and account for how suppliers address their impacts on human rights across the whole value chain.  
• Processes to enable the remediation of any adverse human and labour rights impacts suppliers may cause, to which they contribute or are linked to.
• Suppliers must take proactive measures to prevent any involvement in human and labour rights violations in own operations or through business relationships, including:
  • No forced labour or modern slavery – Suppliers must ensure that all work is performed voluntarily and without coercion (ILO Convention No. 29).
  • No child labour – Compliance with minimum age requirements and protections for young workers (ILO Conventions No. 138 and 182).
  • Equality and no discrimination – Equal treatment regardless of race, gender, disability, religion, or any other status (ILO Conventions No. 100 and 111).
  • Suppliers must create fair, safe, and ethical working conditions, ensuring
    * Freedom of association and collective bargaining – Workers have the right to form and join unions and negotiate working conditions freely (ILO Conventions No. 87 and 98)..
    * Fair wages and working hours – Compensation should meet or exceed legal minimum wages, and working hours should comply with national laws and industry standards.
    * Safe and healthy working environment – Suppliers must provide adequate safety measures to protect workers from hazards (ILO Convention No. 155).
    * Special considerations must be made for protecting vulnerable groups, if relevant:
        - Indigenous peoples – Respecting land rights and cultural heritage.
        - Women and marginalized communities – Preventing gender-based discrimination and supporting diversity.
        - Migrant workers – Ensuring fair wages, contracts, and protection from exploitation.
• Security Resources As a supplier to Olympic, we will observe strict requirements for the selections of security contractors to avoid human rights risks in countries where security firms are not properly regulated. 

3. Environmental Responsibility

Suppliers must take environmental responsibility and minimize their environmental footprint.

Expectations include:

• Climate Action: Reduce GHG emissions, improve energy efficiency, and integrate climate risk adaptation strategies where appropriate.
• Larger suppliers must be able to provide yearly GHG data on products and services provided when requested by Olympic.
• Biodiversity & Ecosystems: Prevent biodiversity loss, avoid deforestation and ecosystem degradation, and ensure sustainable land use.
  • High risk suppliers must be able to document policies, actions and targets for biodiversity and ecosystems in their value chain.
• Pollution Prevention: Minimize air, water, and soil pollution, comply with environmental regulations, and adopt clean production methods.
  • High risk suppliers must be able to document policies, actions and targets for pollution prevention in their value chain.
• Microplastics prevention: Minimize the use and spread of microplastics.
  • High risk suppliers must be able to document policies, actions and targets for microplastics pollution prevention in their value chain.
• Circular Economy & Waste Management: Reduce waste, promote reuse, remanufacturing and recycling, and ensure safe disposal of hazardous substances.
  • High risk suppliers must be able to document policies, actions and targets for circular economy in their value chain.
• Water & Resource Efficiency: Optimize water usage, improve wastewater treatment, and support sustainable resource sourcing (including avoidance of virgin material extraction and responsible mineral and raw material extraction).
  • High risk suppliers must be able to document policies, actions and targets for water and resource efficiency in their value chain.

4. Business Integrity and Anti-Corruption

Suppliers must promote a culture of integrity across all corporate levels.

• Prohibit all forms of bribery, fraud, extortion, and kickbacks, including indirect facilitation payments:
  • Improper payments. As a supplier to Olympic we will not obtain or retain business or any advantage in the conduct of business, offer, promise, or give improper advantage to a public or official (or a third party) to make the official act or refrain from acting in relation to the performance of her/his official duties. This applies regardless of whether the advantage is offered directly or through an intermediary.
  • Gifts, hospitality, and expenses. As a supplier to Olympic we will not offer, directly or indirectly, to Olympic employees or representatives or anyone closely related to them gifts except for promotional items of minimal value normally bearing a company logo. Hospitality such as social events, meals or entertainment may be offered if there is a clear business reason, but the cost must be kept within reasonable limits. Hospitality, expenses, gifts or other favours shall not be offered or received in situations of contract bidding, evaluation or award.
  • Conflict of interest.  As a supplier to Olympic we, and our employees, will not take part in or seek to influence any decision under circumstances that can give rise to an actual or perceived conflict of interest. Such circumstances may be a business interest or a personal interest in the subject matter – economically or otherwise – directly or through someone closely related. If we become aware of a potential conflict of interest we will, without delay, notify Olympic.
• Comply with national and international anti-corruption regulations, such as the OECD Anti-Bribery Convention and UN Global Compact Principle 10.
• Ensure no undue influence is exerted on public officials, regulatory bodies, or business partners.
• Ensure ethical lobbying and responsible political engagement.
• Establish confidential reporting mechanisms for employees and stakeholders to report misconduct. Protect whistleblowers from retaliation, ensuring fair investigation procedures.
• Comply with competition laws and fair market practices. Avoid anti-competitive behaviours, including price-fixing or market manipulation. Ensure contracts and business engagements are transparent and fair.
• Adhere to applicable laws and regulations in all jurisdictions of operation. Avoid aggressive tax avoidance schemes. Ensure honest financial reporting and cooperation with authorities.
• Ensure protection of data and privacy, complying with international regulations.

5. Product and service safety and quality

Suppliers must:

• Guarantee product and service quality and safety.
• Provide accurate and transparent product and service information.

6. Compliance and Monitoring

To ensure continuous improvement, suppliers must:

• Regularly review and improve responsible business practices.
• Establish grievance mechanisms for workers and stakeholders.
• Cooperate with audits and assessments to verify compliance.

7. Implementation and Accountability

Failure to adhere to this Supplier declaration may result in corrective actions, contract termination, or exclusion from future business with OLYMPIC.  Suppliers must ensure all employees and partners understand and uphold these commitments.