Code of Ethics

On 18 January 2022, the new Code of Ethics, intended as the set of values, principles and lines of conduct that must inspire all the people who play a part in the pursuit of corporate goals and objectives, was approved by the Cefla Board of Directors.

Purpose of the Code of Ethics

Cefla, appreciating the importance of ethical and social values in work and business, is committed to the sound and responsible management of its business operations, to building a transparent and sincere relationship with social partners, and to the welfare of the community to which it belongs. This commitment forms the basis of its Code of Ethics which states:

  • the general principles and values that Cefla wishes to pursue and share with its Stakeholders;
  • the specific rules of conduct followed by the Addressees of this Code of Ethics;
  • the procedures for implementing and monitoring compliance with the Code of Ethics.

The values, principles, and rules of conduct set out in this Code of Ethics, as part of the corporate governance system, are a binding expression of Cefla’s commitment to “doing business responsibly”, avoiding all merely opportunistic actions and ensuring constant dialogue and engagement with all our Stakeholders.

In pursuing the company’s mission, Cefla endeavours to promote the principles set out in this Code of Ethics through their acknowledgement and adoption by its management, by its employees (both members and non-members), by its customers and suppliers, and by society at large.

Cefla is committed to ensuring that all its business activities are conducted lawfully, with honesty and integrity and in good faith, and in keeping with the legitimate interests of its employees, contractors, and business partners.

Scope of application

This Code of Ethics applies to Cefla and to all companies belonging to the Group, and to all their activities; it is to be implemented at all levels of the organization, in all the countries where Cefla operates.

The Code of Ethics is intended as an addition to the company’s regulations, procedures, and provisions, to guide its Addressees in the performance of their tasks. As such, it represents an essential quality element in the employment relationship, therefore, non-compliance with the Code of Ethics may be punished with disciplinary action, in accordance with employment contracts in force.


This Code of Ethics Addressees are:

  • members of corporate boards (chairpersons, directors, and statutory auditors);
  • employees and contractors, including contracted consultants, who are managed and supervised by the senior management functions that have appointed them, or to whom they report in actual practice;
  • other partners appointed directly or indirectly by Cefla on an ongoing or temporary basis, who have dealings or otherwise are in business relations with Cefla that contribute to the pursuit of the company’s objectives.

Addressees are required to abide by the laws and regulations applicable in the different countries in which they are called to operate on behalf of Cefla, basing their conduct on the values, principles, and rules set out in this Code of Ethics.

Accordingly, Cefla undertakes to circulate the Code of Ethics to all persons concerned by it, to ensure that its contents are properly interpreted, and to provide the means to promote its application.

Cefla has, in addition, set up the necessary measures to monitor and check the application of the Code of Ethics, including penalties in the event of non-compliance. To this end, the Supervisory Board has the task, inter alia, of overseeing the application of the Code of Ethics.

Values and principles set out in the Code of Ethics:

Cefla embraces the greater values of civilisation and democracy endorsed by the Italian Constitution, the European Constitution, and the Universal Declaration of Human Rights, acknowledging dignity, freedom, equality, solidarity, and justice as the core values of civilized life.

In particular, Cefla fully identifies with Article 41 of the Italian Constitution, which states that private enterprise “cannot be carried on in conflict with the common good or in such a way as to harm human safety, freedom, and dignity”.

Cefla pursues its business activities on the basis of the principles set out in this Code of Ethics and reserves the right to decline or interrupt dealings of any kind with people or entities that show they do not endorse the contents and spirit of the Code and/or breach its principles and rules of conduct.

Transparency and Completeness of Information and Disclosures
Compliance with Laws
Fair Governance and the Proper Use of Funds
Accounting and Tax
Dealings with Government Agencies
Protection and Empowerment of People
Sustainable Development and the Environment
Protection of the Company’s Image
Fair Competition and Fair Advertising
Protection and Confidentiality of Information and Personal Data
Transparency in Dealings with Competent Control and Supervisory Authorities
The Role of Members
Relationship with local communities
Association and Policies
Conflicts of Interest
Gifts and Gratuities
Use of IT Tools
Relations with Mass Media and Social Media Management

Download our Code of Ethics