The Procurement Policy determines, through the recording of the basic guidelines and rules, the framework of procurement operation in the exercise of the Group's activities. It aims at the timely and qualitative coverage of the needs in materials, equipment, services and projects, under the best possible terms (quality, responsibility, price, payment method, guarantees, etc.) in order to:
• Strike a balance between technical adequacy, quality and price of tenders, as well as quality and acceptance of the supplier, in order to maximize the overall benefit.
• Ensure transparency, objectivity, impartiality and equal opportunities.
• Minimise operational and credit risks arising from partnerships with suppliers.
• Increase reliability vis-à-vis third parties.
In the context of strengthening the understanding and acceptance of corporate values by the Group's entire supply chain, in December 2022 the Board of Directors approved the Supplier Code of Conduct, which is available at https://www.lamdadev.com and contains the ethical principles that must govern the conduct of any suppliers, contractors, service providers and consultants that enter into a contractual relationship with the Group.
The purpose of the Supplier Code of Conduct is, among other things, to promote safe and fair working conditions, as well as the responsible management of social, ethical and environmental issues in the Group's supply chain. Suppliers are required to ensure that their own suppliers and subcontractors are subject to principles of conduct equivalent to those set out in the Group's Supplier Code of Conduct. The Supplier Code of Conduct is incorporated into the tenders issued by the Group before the commencement of any contractual relationship (except in cases where the prospective supplier has its own stricter framework). Specifically, it is requested that potential suppliers be accepted in writing, through a relevant questionnaire, as part of their preliminary evaluation and through the terms of their participation in the Group's tenders.
Strengthening Transparency: we recognise that our activities need to be underpinned by a strong and transparent corporate governance framework that ensures the sustainable and orderly operation of the Group.
To this end, we have updated the Internal Rules of Procedure and established the Sustainable Development Unit. The Unit's responsibilities include, among others, the formulation of the overall Group's Sustainable Development strategy proposed to the Senior Management, the compliance with the procedures governing the Group's operation and ensuring compliance with national and international sustainable development regulations, as well as the coordination of relevant initiatives. In addition, we created a supplier evaluation questionnaire with Environmental (E), Social (S), and Governance (G) criteria and developed a new platform for whistleblowing, with the aim of enhancing the Group's transparency, accountability and integrity, as well as protecting its interests and reputation.
Customer Privacy: in 2022, the Board of Directors approved the Revised version of the Subject Access Rights Management Procedure and the Information Systems Security Policy which contain issues related to the processing of personal data. During the reporting year, there were no incidents of breach of customer privacy and/or loss of customer data.
Customer Health and Safety: the Group's priority is the protection and safety of both its staff and visitors to the malls. Thus, it cooperates with distinguished security companies, which have signed the Code of Conduct, in order to meet the standards of service quality set by LAMDA Development, which are a prerequisite for the smooth operation of the malls.
The risk cases and the assessment of the data are contained in the Crisis Manual and the Risk Assessment. Systems (Enterprise Risk Management) and related control procedures (Center Management) are also in place to continuously improve and develop key areas such as health, safety, security, environment and service quality.
It is worth noting that the Compliance Report, which is prepared quarterly by the Compliance Unit and submitted to the Audit Committee, includes the health and safety issues for The Ellinikon and the actions taken to comply with the relevant legislation.
- Contribution to Innovation: as the retail market is constantly transforming, Lamda Development, maintaining its leadership in innovation, is constantly seeking channels to reach out to start-up entrepreneurship, while seeking to be a source of inspiration for young people to move towards the entrepreneurial world.
