Governance

Governance

Ethics and Integrity

Toromont’s Code of Conduct, developed and approved by our Board of Directors, enshrines our corporate values including values that promote, protect and positively contribute to the betterment of Toromont and society as a whole.

The Code applies to all who represent Toromont, including Directors, officers and employees. Everyone at Toromont is required, in writing, to confirm they understand and comply with the Code each year. The Audit Committee and the Human Resources and Health and Safety Committee of the Board receive regular compliance reports and the Code is reviewed annually by the Board and amended when appropriate.

Among Code provisions are requirements to:

  • act with the utmost integrity at all times
  • respect all human rights in the environments in which we operate including respecting the rights of Indigenous peoples and the right of employees to collectively bargain
  • uphold all laws including international anti-corruption and trade regulations
  • promote diversity, equity and inclusion
  • protect and positively contribute to environmental stewardship alone and in collaboration with customers and business partners
  • respect that we have a responsibility to the community and make a positive difference in the world through our actions

The Code encourages employees, customers, suppliers and shareholders to report any suspected violation to the company’s General Counsel or anonymously through an independent third-party Compliance reporting system without fear of reprisal.

Toromont’s Supplier Code of Conduct enshrines the key values and principles found in our Corporate Code of Conduct. We ask our business partners to embrace our Supplier Code of Conduct as part of contractor qualification and compliance programs.

2021 Key Outcomes and Actions

  • tied incentive compensation for senior leaders to safety outcomes
  • developed a performance-based long-term incentive program for introduction in 2022
  • confirmed employee adherence with our Code of Code
  • paid taxes at our effective tax rate of 27.2%
  • maintained targeted recruitment activities