Ethical conduct: Our Employee Code of Conduct sets out specific guidance for SolarEdge employees to conduct business in accordance with the highest ethical standards and establishes an expectation that all employees will act in accordance with personal and professional integrity. The code has recently undergone an update, to include expanded guidance relating to whistleblowing practices, political and trade union involvement and human rights. The Employee Code of Conduct has been translated into the local languages commonly used in most of the regions where our employees reside. A copy of the Employee Code of Conduct is included in each new employee’s contract, appearing in a language the employee can understand (same as with our employment contracts). All new employees receive training regarding the code requirements and confirm in writing their intent to comply with these requirements and their willingness to report suspected violations.
The Company has also recently revised its Insider Trading Policy, among other things to prohibit all employees and non-employee directors from engaging in any speculative transactions, hedging and pledging transactions and trading on margin.
Since 2022, we conduct an annual on-line employee code of conduct training program. In the cases of some production employees who do not have computer access, the training is conducted in on-site group sessions. The training includes emphasis on realistic work-place scenarios regarding issues such as anti-harassment and discrimination, anti-corruption, conflict of interest, political involvement, and more. The training also re-informs the employees regarding the different channels available for reporting code violations. The new code of conduct training is mandatory for all employees world-wide, including part-time employees, and including contractor employees who work for the Company as external consultants.
Over 5,200 employees, which comprise over 90% of the end-of-year workforce, have successfully completed the Employee Code of Conduct training in 2023.
In 2023, and in addition to the global on-line training, the Company held specific code-of-conduct training sessions for dozens of procurement-related personnel, who are involved in sensitive procurement decisions. The training focused on potential conflict of interest cases relevant to procurement decisions, such as avoiding inappropriate gifts from established or potential vendors, or issues related to carrying out business with organizations that employ /are owned by family members or personal friends.
3
50%
50%
3
Business integrity
Human resources, diversity and workplace respect
Proportion of total reports
Number of reports
Topic
As a result of our investigations, two employees were subject to disciplinary action.
In 2022, ten reports were investigated (6 reports regarding human resources, diversity and workplace respect; 3 reports regarding business integrity; 1 report on EHS issues). Seven employees were subject to disciplinary action.
In 2021, eight reports were investigated (3 reports regarding business integrity; 2 reports regarding human resources, diversity and workplace respect; 2 reports regarding misuse of company assets; 1 report on EHS issues). Nine employees were subject to disciplinary action.
Whistleblowing: Employees are encouraged to report suspected violations of the Employee Code of Conduct through different means, including a confidential hotline. All reports are promptly investigated, and action is taken as required. In 2023, we investigated six compliance related allegations as follows:
Compliance: Compliance is fundamental to our business as it protects us from risk, fosters trust with our stakeholders and provides a solid basis for sustainable growth and a positive contribution to society. We aim to conduct business in line with all applicable laws and regulations governing our operations in all countries.
In 2023, with the exception of a minimal fine paid to the SEC with respect to delayed Form 4 filings of one of our directors, SolarEdge was not subject to any fines for non-compliance with any of the laws and regulations that apply in all the regions where we operate. For more information, see our Approach to Compliance.
Sustainability Report 2023 /
Ethics
& Compliance
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*Slide to the left to see entire table'
Ethical conduct: Our Employee Code of Conduct sets out specific guidance for SolarEdge employees to conduct business in accordance with the highest ethical standards and establishes an expectation that all employees will act in accordance with personal and professional integrity. The code has recently undergone an update, to include expanded guidance relating to whistleblowing practices, political and trade union involvement and human rights. The Employee Code of Conduct has been translated into the local languages commonly used in most of the regions where our employees reside. A copy of the Employee Code of Conduct is included in each new employee’s contract, appearing in a language the employee can understand (same as with our employment contracts). All new employees receive training regarding the code requirements and confirm in writing their intent to comply with these requirements and their willingness to report suspected violations.
The Company has also recently revised its Insider Trading Policy, among other things to prohibit all employees and non-employee directors from engaging in any speculative transactions, hedging and pledging transactions and trading on margin.
Since 2022, we conduct an annual on-line employee code of conduct training program. In the cases of some production employees who do not have computer access, the training is conducted in on-site group sessions. The training includes emphasis on realistic work-place scenarios regarding issues such as anti-harassment and discrimination, anti-corruption, conflict of interest, political involvement, and more. The training also re-informs the employees regarding the different channels available for reporting code violations. The new code of conduct training is mandatory for all employees world-wide, including part-time employees, and including contractor employees who work for the Company as external consultants.
Over 5,200 employees, which comprise over 90% of the end-of-year workforce, have successfully completed the Employee Code of Conduct training in 2023.
In 2023, and in addition to the global on-line training, the Company held specific code-of-conduct training sessions for dozens of procurement-related personnel, who are involved in sensitive procurement decisions. The training focused on potential conflict of interest cases relevant to procurement decisions, such as avoiding inappropriate gifts from established or potential vendors, or issues related to carrying out business with organizations that employ /are owned by family members or personal friends.
As a result of our investigations, two employees were subject to disciplinary action.
In 2022, ten reports were investigated (6 reports regarding human resources, diversity and workplace respect; 3 reports regarding business integrity; 1 report on EHS issues). Seven employees were subject to disciplinary action.
In 2021, eight reports were investigated (3 reports regarding business integrity; 2 reports regarding human resources, diversity and workplace respect; 2 reports regarding misuse of company assets; 1 report on EHS issues). Nine employees were subject to disciplinary action.
Whistleblowing: Employees are encouraged to report suspected violations of the Employee Code of Conduct through different means, including a confidential hotline. All reports are promptly investigated, and action is taken as required. In 2023, we investigated six compliance related allegations as follows:
Compliance: Compliance is fundamental to our business as it protects us from risk, fosters trust with our stakeholders and provides a solid basis for sustainable growth and a positive contribution to society. We aim to conduct business in line with all applicable laws and regulations governing our operations in all countries.
In 2023, with the exception of a minimal fine paid to the SEC with respect to delayed Form 4 filings of one of our directors, SolarEdge was not subject to any fines for non-compliance with any of the laws and regulations that apply in all the regions where we operate. For more information, see our Approach to Compliance.
Ethics
& Compliance
Sustainability Report 2023 /